Franklin Street Properties Corp. (NYSE:FSP) Shares Acquired by Private Management Group Inc.

Private Management Group Inc. lifted its stake in shares of Franklin Street Properties Corp. (NYSE:FSP) by 7.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,222,820 shares of the company’s stock after buying an additional 673,231 shares during the period. Private Management Group Inc. owned approximately 8.90% of Franklin Street Properties worth $16,324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bfsg LLC lifted its stake in shares of Franklin Street Properties by 11.1% during the third quarter. Bfsg LLC now owns 70,430 shares of the company’s stock worth $125,000 after buying an additional 7,020 shares during the period. SG Americas Securities LLC lifted its stake in shares of Franklin Street Properties by 92.1% during the third quarter. SG Americas Securities LLC now owns 32,846 shares of the company’s stock worth $58,000 after buying an additional 15,750 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Franklin Street Properties during the second quarter worth $34,000. Algert Global LLC lifted its position in Franklin Street Properties by 123.1% during the second 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. Finally, The Manufacturers Life Insurance Company acquired a new position in Franklin Street Properties during the second quarter valued at $66,000. 61.41% of the stock is currently owned by institutional investors and hedge funds.

Franklin Street Properties Stock Performance

NYSE FSP traded up $0.15 on Friday, reaching $1.92. 944,212 shares of the company’s stock traded hands, compared to its average volume of 619,576. The firm has a market cap of $198.85 million, a price-to-earnings ratio of -4.91 and a beta of 0.81. The stock has a 50 day moving average price of $1.72 and a 200-day moving average price of $1.73. Franklin Street Properties Corp. has a fifty-two week low of $1.47 and a fifty-two week high of $2.72. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.79 and a current ratio of 2.28.

Franklin Street Properties (NYSE:FSP) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.10). Franklin Street Properties had a negative return on equity of 5.88% and a negative net margin of 32.11%. The firm had revenue of $29.68 million during the quarter. During the same period in the prior year, the business posted ($0.44) EPS. Equities research analysts predict that Franklin Street Properties Corp. will post 0.13 EPS for the current fiscal year.

Franklin Street Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Friday, October 18th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Friday, October 18th. Franklin Street Properties’s payout ratio is currently -10.26%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Franklin Street Properties from a “hold” rating to a “sell” rating in a research report on Monday, October 28th.

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.