Franklin Street Properties (NYSE:FSP) Upgraded to Hold by StockNews.com

Franklin Street Properties (NYSE:FSP) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Franklin Street Properties Price Performance

Shares of NYSE:FSP traded up $0.03 on Tuesday, hitting $1.74. The stock had a trading volume of 187,265 shares, compared to its average volume of 637,121. The firm’s 50 day moving average price is $1.66 and its 200-day moving average price is $1.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.79 and a current ratio of 2.79. Franklin Street Properties has a twelve month low of $1.47 and a twelve month high of $2.72. The company has a market capitalization of $179.97 million, a price-to-earnings ratio of -3.11 and a beta of 0.82.

Franklin Street Properties (NYSE:FSP) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). Franklin Street Properties had a negative return on equity of 10.06% and a negative net margin of 52.85%. The company had revenue of $30.83 million for the quarter. On average, equities research analysts predict that Franklin Street Properties will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Franklin Street Properties

Hedge funds have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new position in Franklin Street Properties during the 2nd quarter valued at about $34,000. Algert Global LLC lifted its position in Franklin Street Properties by 123.1% during the 2nd quarter. Algert Global LLC now owns 60,225 shares of the company’s stock valued at $92,000 after purchasing an additional 33,233 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Franklin Street Properties during the 2nd quarter valued at about $66,000. Marshall Wace LLP lifted its position in Franklin Street Properties by 25.4% during the 2nd quarter. Marshall Wace LLP now owns 890,682 shares of the company’s stock valued at $1,363,000 after purchasing an additional 180,324 shares during the period. Finally, Private Management Group Inc. lifted its position in Franklin Street Properties by 30.0% during the 2nd quarter. Private Management Group Inc. now owns 8,549,589 shares of the company’s stock valued at $13,081,000 after purchasing an additional 1,970,790 shares during the period. Institutional investors own 61.41% of the company’s stock.

About Franklin Street Properties

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.