Franklin Street Properties Corp. (NYSEAMERICAN:FSP) – B. Riley increased their Q1 2019 earnings per share estimates for Franklin Street Properties in a report released on Thursday, November 1st. B. Riley analyst C. Kucera now forecasts that the real estate investment trust will post earnings of $0.24 per share for the quarter, up from their prior forecast of $0.23. B. Riley currently has a “Buy” rating and a $9.00 target price on the stock. B. Riley also issued estimates for Franklin Street Properties’ Q2 2019 earnings at $0.24 EPS and FY2019 earnings at $0.96 EPS.
Franklin Street Properties (NYSEAMERICAN:FSP) last announced its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.08. The firm had revenue of $68.71 million during the quarter, compared to analyst estimates of $66.44 million.
Several other research firms have also weighed in on FSP. Zacks Investment Research raised Franklin Street Properties from a “sell” rating to a “hold” rating in a research report on Monday. BMO Capital Markets raised Franklin Street Properties from an “underperform” rating to a “market perform” rating in a research report on Friday, November 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $8.69.
Shares of Franklin Street Properties stock opened at $8.03 on Monday. Franklin Street Properties has a 52-week low of $6.93 and a 52-week high of $11.00.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Friday, October 19th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Thursday, October 18th.
Several large investors have recently bought and sold shares of the business. Systematic Financial Management LP increased its position in shares of Franklin Street Properties by 4.2% during the 2nd quarter. Systematic Financial Management LP now owns 174,320 shares of the real estate investment trust’s stock worth $1,492,000 after purchasing an additional 7,025 shares during the last quarter. Royal Bank of Canada increased its position in shares of Franklin Street Properties by 23.7% during the 1st quarter. Royal Bank of Canada now owns 38,932 shares of the real estate investment trust’s stock worth $327,000 after purchasing an additional 7,469 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Franklin Street Properties during the 2nd quarter worth approximately $100,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Franklin Street Properties during the 2nd quarter worth approximately $107,000. Finally, Xact Kapitalforvaltning AB increased its position in shares of Franklin Street Properties by 65.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 38,685 shares of the real estate investment trust’s stock worth $325,000 after purchasing an additional 15,300 shares during the last quarter.
About Franklin Street Properties
Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on investing in institutional-quality office properties in the U.S. FSP's strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis on our five core markets of Atlanta, Dallas, Denver, Houston, and Minneapolis.
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