Franklin Street Properties Corp. (FSP) Holdings Boosted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its holdings in Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,990 shares of the real estate investment trust’s stock after buying an additional 1,567 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Franklin Street Properties Corp. were worth $897,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Daiwa Securities Group Inc. lifted its stake in Franklin Street Properties Corp. 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 buying an additional 700 shares during the period. Shelton Capital Management acquired a new position in Franklin Street Properties Corp. in the second quarter valued at approximately $111,000. Sei Investments Co. lifted its stake in Franklin Street Properties Corp. by 2,435.8% in the second quarter. Sei Investments Co. now owns 11,132 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 10,693 shares during the period. Neuberger Berman Group LLC lifted its stake in Franklin Street Properties Corp. 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 buying an additional 113 shares during the period. Finally, QS Investors LLC lifted its stake in Franklin Street Properties Corp. by 9.6% in the second quarter. QS Investors LLC now owns 13,985 shares of the real estate investment trust’s stock valued at $155,000 after buying an additional 1,220 shares during the period.

Shares of Franklin Street Properties Corp. (NYSEAMERICAN:FSP) opened at $10.52 on Wednesday. Franklin Street Properties Corp. has a 1-year low of $9.59 and a 1-year high of $13.27.

Franklin Street Properties Corp. (NYSEAMERICAN:FSP) last announced its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. The business had revenue of $67.30 million during the quarter, compared to the consensus estimate of $66.31 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 revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, October 20th were paid a $0.19 dividend. The ex-dividend date was Thursday, October 19th. This represents a $0.76 dividend on an annualized basis and a yield of 7.22%. Franklin Street Properties Corp.’s dividend payout ratio (DPR) is presently -844.44%.

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In other news, Director Dennis J. Mcgillicuddy purchased 100,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was bought at an average price of $9.88 per share, for a total transaction of $988,000.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brian N. Hansen purchased 12,500 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were purchased at an average price of $9.96 per share, with a total value of $124,500.00. The disclosure for this purchase can be found here. Insiders acquired a total of 126,045 shares of company stock valued at $1,246,470 in the last 90 days.

FSP has been the topic of a number of research reports. Zacks Investment Research lowered Franklin Street Properties Corp. from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. ValuEngine lowered Franklin Street Properties Corp. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Janney Montgomery Scott initiated coverage on Franklin Street Properties Corp. in a research report on Friday, September 8th. They set a “buy” rating on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $10.00 target price on shares of Franklin Street Properties Corp. in a research report on Thursday, September 21st. Finally, B. Riley reaffirmed a “buy” rating on shares of Franklin Street Properties Corp. in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $11.75.

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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Institutional Ownership by Quarter for Franklin Street Properties Corp. (NYSEAMERICAN:FSP)

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