California Public Employees Retirement System increased its holdings in Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 10.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 411,258 shares of the real estate investment trust’s stock after buying an additional 37,698 shares during the period. California Public Employees Retirement System owned about 0.38% of Franklin Street Properties worth $4,417,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of FSP. LSV Asset Management raised its holdings in shares of Franklin Street Properties by 29.4% in the 4th quarter. LSV Asset Management now owns 4,908,775 shares of the real estate investment trust’s stock worth $52,720,000 after purchasing an additional 1,114,012 shares in the last quarter. Truepoint Inc. grew its position in Franklin Street Properties by 962.0% during the third quarter. Truepoint Inc. now owns 798,815 shares of the real estate investment trust’s stock valued at $799,000 after purchasing an additional 723,597 shares in the last quarter. Prudential Financial Inc. grew its position in Franklin Street Properties by 18.2% during the third quarter. Prudential Financial Inc. now owns 2,155,062 shares of the real estate investment trust’s stock valued at $22,887,000 after purchasing an additional 331,950 shares in the last quarter. Citadel Advisors LLC lifted its stake in Franklin Street Properties by 114.9% in the third quarter. Citadel Advisors LLC now owns 452,144 shares of the real estate investment trust’s stock valued at $4,802,000 after acquiring an additional 241,725 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in Franklin Street Properties by 2.1% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 8,152,990 shares of the real estate investment trust’s stock valued at $86,585,000 after acquiring an additional 169,590 shares during the last quarter.
Shares of FSP stock opened at $8.57 on Wednesday. The stock has a market capitalization of $892.16, a P/E ratio of -57.13 and a beta of 0.84. Franklin Street Properties Corp. has a 52 week low of $7.94 and a 52 week high of $12.71.
Franklin Street Properties (NYSEAMERICAN:FSP) last released its earnings results on Tuesday, February 13th. The real estate investment trust reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.30). Franklin Street Properties had a negative net margin of 7.38% and a negative return on equity of 2.25%. The firm had revenue of $66.84 million during the quarter, compared to the consensus estimate of $67.68 million.
A number of analysts have recently weighed in on FSP shares. B. Riley cut shares of Franklin Street Properties from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $12.50 to $10.00 in a research note on Thursday, February 15th. BMO Capital Markets lowered shares of Franklin Street Properties from a “market perform” rating to an “underperform” rating and set a $8.00 price target on the stock. in a report on Tuesday, February 27th. Zacks Investment Research lowered shares of Franklin Street Properties from a “hold” rating to a “sell” rating in a report on Thursday, February 15th. Finally, Stifel Nicolaus lowered shares of Franklin Street Properties from a “hold” rating to a “sell” rating and lowered their target price for the stock from $10.00 to $7.00 in a report on Wednesday, February 14th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Franklin Street Properties has a consensus rating of “Hold” and a consensus target price of $10.33.
In other Franklin Street Properties news, CEO George J. Carter bought 5,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were purchased at an average price of $8.85 per share, for a total transaction of $44,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders purchased 11,718 shares of company stock valued at $100,834.
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Franklin Street Properties Company Profile
Franklin Street Properties Corp. is a real estate investment trust (REIT). The Company is focused on commercial real estate investments primarily in office markets. The Company operates through the real estate operations segment. The Company’s investment objectives are to create shareholder value by increasing revenue from rental, dividend, interest and fee income and net gains from sales of properties, and increase the cash available for distribution in the form of dividends to its stockholders.
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