According to Zacks, “Franklin Street Properties Corp., a real estate investment trust, is focused on investing in institutional-quality office properties in major U.S. markets. FSP’s strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis on their top five markets of Atlanta, Dallas, Denver, Houston, and Minneapolis. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income. FSP’s primary real estate operations include property acquisitions and dispositions, leasing, development and asset management. FSP has also been a cyclical investor in San Diego, Silicon Valley, Greater Boston, Raleigh-Durham, and Greater Washington, DC, and will continue to monitor these markets, as well as other markets, for opportunistic investments. “
Several other brokerages have also recently issued reports on FSP. Robert W. Baird upgraded Franklin Street Properties Corp. from a neutral rating to an outperform rating and boosted their price target for the company from $10.00 to $15.00 in a research note on Friday, July 29th. BMO Capital Markets reiterated a market perform rating and issued a $13.00 price target (up from $12.51) on shares of Franklin Street Properties Corp. in a research note on Monday, August 22nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. Franklin Street Properties Corp. has an average rating of Hold and a consensus price target of $13.63.
Shares of Franklin Street Properties Corp. (NYSEMKT:FSP) opened at 11.49 on Tuesday. The stock has a 50 day moving average price of $12.49 and a 200 day moving average price of $11.88. Franklin Street Properties Corp. has a 1-year low of $8.67 and a 1-year high of $13.18. The firm has a market capitalization of $1.15 billion, a PE ratio of 50.62 and a beta of 0.84.
Franklin Street Properties Corp. (NYSEMKT:FSP) last posted its earnings results on Tuesday, July 26th. The real estate investment trust reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. The firm earned $59.45 million during the quarter, compared to analyst estimates of $58.73 million. During the same period in the previous year, the company posted $0.27 EPS. Equities research analysts anticipate that Franklin Street Properties Corp. will post $1.05 earnings per share for the current fiscal year.
In other Franklin Street Properties Corp. news, Director Kenneth A. Hoxsie bought 8,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was purchased at an average cost of $12.45 per share, for a total transaction of $99,600.00. Following the completion of the purchase, the director now directly owns 40,000 shares of the company’s stock, valued at $498,000. The acquisition was disclosed in a filing with the SEC, which is available at this link.
A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Franklin Street Properties Corp. by 2.7% in the second quarter. Vanguard Group Inc. now owns 14,199,496 shares of the real estate investment trust’s stock valued at $174,227,000 after buying an additional 379,616 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Franklin Street Properties Corp. by 5.9% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 7,396,048 shares of the real estate investment trust’s stock valued at $90,750,000 after buying an additional 410,339 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Franklin Street Properties Corp. by 6.9% in the second quarter. BlackRock Fund Advisors now owns 6,002,684 shares of the real estate investment trust’s stock valued at $73,653,000 after buying an additional 387,986 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Franklin Street Properties Corp. by 1.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,494,644 shares of the real estate investment trust’s stock valued at $37,078,000 after buying an additional 39,109 shares during the last quarter. Finally, State Street Corp boosted its stake in Franklin Street Properties Corp. by 3.4% in the second quarter. State Street Corp now owns 2,999,255 shares of the real estate investment trust’s stock valued at $36,800,000 after buying an additional 99,047 shares during the last quarter.
About Franklin Street Properties Corp.
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’s segment is real estate operations. The Company owns and operates a portfolio of real estate consisting of approximately 40 office properties.
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