Fuller & Thaler Asset Management Inc. Acquires 169,590 Shares of Franklin Street Properties Corp. (FSP)

Fuller & Thaler Asset Management Inc. boosted its position in shares of Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,152,990 shares of the real estate investment trust’s stock after buying an additional 169,590 shares during the quarter. Franklin Street Properties Corp. makes up 1.1% of Fuller & Thaler Asset Management Inc.’s holdings, making the stock its 26th biggest position. Fuller & Thaler Asset Management Inc. owned about 7.60% of Franklin Street Properties Corp. worth $86,585,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FSP. Prudential Financial Inc. grew its position in Franklin Street Properties Corp. by 18.2% during the third quarter. Prudential Financial Inc. now owns 2,155,062 shares of the real estate investment trust’s stock valued at $22,887,000 after buying an additional 331,950 shares during the period. JPMorgan Chase & Co. grew its position in Franklin Street Properties Corp. by 58.7% during the second quarter. JPMorgan Chase & Co. now owns 823,060 shares of the real estate investment trust’s stock valued at $9,120,000 after buying an additional 304,281 shares during the period. Laurion Capital Management LP acquired a new stake in Franklin Street Properties Corp. during the second quarter valued at $2,925,000. Marshall Wace North America L.P. acquired a new stake in Franklin Street Properties Corp. during the second quarter valued at $2,713,000. Finally, State Street Corp grew its position in Franklin Street Properties Corp. by 6.0% during the first quarter. State Street Corp now owns 3,991,539 shares of the real estate investment trust’s stock valued at $48,453,000 after buying an additional 225,648 shares during the period.

In other Franklin Street Properties Corp. news, Director Dennis J. Mcgillicuddy purchased 100,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were purchased at an average cost of $9.88 per share, for a total transaction of $988,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian N. Hansen purchased 12,500 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were acquired at an average price of $9.96 per share, for a total transaction of $124,500.00. The disclosure for this purchase can be found here. Insiders have purchased 120,000 shares of company stock worth $1,187,050 over the last 90 days.

Shares of Franklin Street Properties Corp. (NYSEAMERICAN FSP) traded up $0.02 during midday trading on Tuesday, hitting $10.48. 347,500 shares of the stock traded hands, compared to its average volume of 407,588. 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 earnings results on Tuesday, October 31st. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. Franklin Street Properties Corp. had a negative net margin of 25.44% and a negative return on equity of 7.52%. The business had revenue of $67.30 million for the quarter, compared to analyst estimates of $66.31 million. During the same quarter last year, the business earned $0.26 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Friday, October 20th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, October 19th. This represents a $0.76 dividend on an annualized basis and a yield of 7.25%. Franklin Street Properties Corp.’s payout ratio is presently -844.44%.

Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Franklin Street Properties Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. ValuEngine upgraded shares of Franklin Street Properties Corp. from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. B. Riley reiterated a “buy” rating on shares of Franklin Street Properties Corp. in a research report on Thursday, November 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $10.00 target price on shares of Franklin Street Properties Corp. in a research report on Thursday, September 21st. Finally, Janney Montgomery Scott assumed coverage on shares of Franklin Street Properties Corp. in a research report on Friday, September 8th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $11.75.

TRADEMARK VIOLATION NOTICE: This news story was posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://sportsperspectives.com/2017/11/21/fuller-thaler-asset-management-inc-acquires-169590-shares-of-franklin-street-properties-corp-fsp.html.

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.

Want to see what other hedge funds are holding FSP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Street Properties Corp. (NYSEAMERICAN:FSP).

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

Receive News & Ratings for Franklin Street Properties Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Street Properties Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply