Franklin Street Properties Corp. (AMEX:FSP) released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01, Briefing.com reports. The firm had revenue of $68.37 million during the quarter, compared to analysts’ expectations of $67.75 million. Franklin Street Properties Corp. had a negative return on equity of 7.52% and a negative net margin of 25.44%. Franklin Street Properties Corp.’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. Franklin Street Properties Corp. updated its Q guidance to $0.25 to $0.26 EPS and its FY17 guidance to $1.04 to $1.08 EPS.
Franklin Street Properties Corp. (AMEX:FSP) traded down 0.10% during trading on Friday, hitting $10.02. The stock had a trading volume of 562,639 shares. Franklin Street Properties Corp. has a 52 week low of $9.74 and a 52 week high of $13.27. The company’s 50-day moving average is $10.69 and its 200 day moving average is $11.60. The firm’s market cap is $1.07 billion.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 10th. Stockholders of record on Friday, July 21st were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 7.60%. The ex-dividend date was Wednesday, July 19th. Franklin Street Properties Corp.’s dividend payout ratio (DPR) is currently 330.43%.
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In other Franklin Street Properties Corp. news, Director Kathryn P. O’neil bought 5,000 shares of the stock in a transaction on Tuesday, June 13th. The shares were purchased at an average price of $11.33 per share, with a total value of $56,650.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 17,070 shares of company stock worth $185,573 in the last ninety days.
Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Franklin Street Properties Corp. by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,296,739 shares of the real estate investment trust’s stock worth $16,805,000 after buying an additional 69,167 shares during the period. UBS Asset Management Americas Inc. raised its stake in Franklin Street Properties Corp. by 3.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 145,554 shares of the real estate investment trust’s stock worth $1,886,000 after buying an additional 5,154 shares during the period. Teachers Advisors LLC raised its stake in Franklin Street Properties Corp. by 28.0% in the fourth quarter. Teachers Advisors LLC now owns 228,774 shares of the real estate investment trust’s stock worth $2,965,000 after buying an additional 49,997 shares during the period. Bank of Montreal Can raised its stake in Franklin Street Properties Corp. by 11.5% in the first quarter. Bank of Montreal Can now owns 24,998 shares of the real estate investment trust’s stock worth $304,000 after buying an additional 2,576 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in Franklin Street Properties Corp. by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 43,700 shares of the real estate investment trust’s stock worth $531,000 after buying an additional 600 shares during the period.
FSP has been the subject of a number of analyst reports. Robert W. Baird cut Franklin Street Properties Corp. from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $14.00 to $12.00 in a report on Thursday, May 4th. BidaskClub cut Franklin Street Properties Corp. from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Zacks Investment Research upgraded Franklin Street Properties Corp. from a “sell” rating to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, April 25th. ValuEngine cut Franklin Street Properties Corp. from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Finally, FBR & Co restated an “outperform” rating and issued a $13.00 price target on shares of Franklin Street Properties Corp. in a report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.00.
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 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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