Truist Financial Corp purchased a new position in Franklin Street Properties Corp. (NYSEAMERICAN:FSP – Get Rating) during the first quarter, HoldingsChannel reports. The firm purchased 67,090 shares of the real estate investment trust's stock, valued at approximately $396,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James & Associates boosted its stake in shares of Franklin Street Properties by 5.9% in the 4th quarter. Raymond James & Associates now owns 35,501 shares of the real estate investment trust's stock worth $211,000 after buying an additional 1,969 shares during the last quarter. Arrow Investment Advisors LLC raised its position in Franklin Street Properties by 3.7% in the fourth quarter. Arrow Investment Advisors LLC now owns 60,770 shares of the real estate investment trust's stock worth $362,000 after acquiring an additional 2,157 shares during the period. Advisor Partners LLC raised its position in Franklin Street Properties by 13.1% in the fourth quarter. Advisor Partners LLC now owns 22,441 shares of the real estate investment trust's stock worth $134,000 after acquiring an additional 2,608 shares during the period. Teacher Retirement System of Texas raised its position in Franklin Street Properties by 21.7% in the fourth quarter. Teacher Retirement System of Texas now owns 20,006 shares of the real estate investment trust's stock worth $119,000 after acquiring an additional 3,563 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in Franklin Street Properties by 7.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 80,950 shares of the real estate investment trust's stock worth $449,000 after acquiring an additional 5,800 shares during the period. 81.65% of the stock is currently owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
Separately, B. Riley decreased their price target on shares of Franklin Street Properties from $6.50 to $6.00 in a research report on Thursday, May 5th.
Insider Transactions at Franklin Street Properties
In related news, Director Brian N. Hansen purchased 50,000 shares of the firm's stock in a transaction on Tuesday, June 14th. The shares were acquired at an average price of $3.96 per share, for a total transaction of $198,000.00. Following the purchase, the director now directly owns 225,000 shares in the company, valued at $891,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Franklin Street Properties news, Director Brian N. Hansen bought 42,500 shares of Franklin Street Properties stock in a transaction on Thursday, June 16th. The shares were acquired at an average price of $3.93 per share, for a total transaction of $167,025.00. Following the completion of the purchase, the director now directly owns 275,000 shares in the company, valued at approximately $1,080,750. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian N. Hansen bought 50,000 shares of the firm's stock in a transaction dated Tuesday, June 14th. The shares were acquired at an average price of $3.96 per share, with a total value of $198,000.00. Following the completion of the transaction, the director now owns 225,000 shares of the company's stock, valued at approximately $891,000. The disclosure for this purchase can be found here. Insiders acquired a total of 102,900 shares of company stock valued at $414,841 over the last 90 days. Company insiders own 4.35% of the company's stock.
Franklin Street Properties Price Performance
Franklin Street Properties stock opened at $3.70 on Thursday. The company has a market capitalization of $381.66 million, a P/E ratio of 7.71 and a beta of 0.87. Franklin Street Properties Corp. has a 12-month low of $3.54 and a 12-month high of $6.58. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.89.
Franklin Street Properties (NYSEAMERICAN:FSP – Get Rating) last released its earnings results on Tuesday, May 3rd. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. Franklin Street Properties had a net margin of 22.85% and a return on equity of 6.78%. Sell-side analysts predict that Franklin Street Properties Corp. will post 0.56 earnings per share for the current year.
Franklin Street Properties Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Tuesday, July 19th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Monday, July 18th. Franklin Street Properties's dividend payout ratio (DPR) is 8.33%.
Franklin Street Properties Company Profile
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Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income.
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