Franklin Street Properties Corp. (FSP) Sees Large Decrease in Short Interest

Franklin Street Properties Corp. (NYSEAMERICAN:FSP) was the recipient of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 1,565,648 shares, a decline of 0.5% from the November 15th total of 1,574,060 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 382,983 shares, the days-to-cover ratio is currently 4.1 days.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC grew its position in shares of Franklin Street Properties by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 14,002 shares of the real estate investment trust’s stock valued at $155,000 after purchasing an additional 113 shares in the last quarter. Amalgamated Bank grew its position in shares of Franklin Street Properties by 1.0% in the second quarter. Amalgamated Bank now owns 14,310 shares of the real estate investment trust’s stock valued at $159,000 after purchasing an additional 137 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Franklin Street Properties by 0.4% in the second quarter. PNC Financial Services Group Inc. now owns 54,139 shares of the real estate investment trust’s stock valued at $600,000 after purchasing an additional 223 shares in the last quarter. Texas Permanent School Fund grew its position in shares of Franklin Street Properties by 0.8% in the second quarter. Texas Permanent School Fund now owns 78,290 shares of the real estate investment trust’s stock valued at $867,000 after purchasing an additional 654 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Franklin Street Properties by 8.2% in the second quarter. Daiwa Securities Group Inc. now owns 9,200 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 700 shares in the last quarter.

FSP has been the topic of several research reports. ValuEngine lowered Franklin Street Properties from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Janney Montgomery Scott initiated coverage on Franklin Street Properties in a research note on Friday, September 8th. They issued a “buy” rating on the stock. Stifel Nicolaus restated a “hold” rating and issued a $10.00 target price on shares of Franklin Street Properties in a research note on Thursday, September 21st. Zacks Investment Research upgraded Franklin Street Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, B. Riley restated a “buy” rating on shares of Franklin Street Properties in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $11.75.

Shares of Franklin Street Properties (NYSEAMERICAN:FSP) opened at $10.65 on Monday. Franklin Street Properties has a one year low of $9.59 and a one year high of $13.27.

Franklin Street Properties (NYSEAMERICAN:FSP) last announced its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The company had revenue of $67.30 million during the quarter, compared to analysts’ expectations of $66.31 million. Franklin Street Properties had a return on equity of 0.85% and a net margin of 2.77%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share.

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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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