Franklin Street Properties Corp. (NYSEAMERICAN:FSP) Sees Significant Growth in Short Interest

Franklin Street Properties Corp. (NYSEAMERICAN:FSP) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 2,205,000 shares, a growth of 9.8% from the June 30th total of 2,007,300 shares. Approximately 2.1% of the company’s shares are short sold. Based on an average daily trading volume, of 285,900 shares, the short-interest ratio is presently 7.7 days.

FSP opened at $7.68 on Friday. Franklin Street Properties has a twelve month low of $5.87 and a twelve month high of $8.69.

Franklin Street Properties (NYSEAMERICAN:FSP) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.18). The business had revenue of $66.81 million for the quarter, compared to the consensus estimate of $65.23 million.

The company also recently announced a dividend, which was paid on Thursday, August 8th. Shareholders of record on Friday, July 19th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, July 18th.

FSP has been the topic of several analyst reports. TheStreet upgraded shares of Franklin Street Properties from a “d+” rating to a “c” rating in a report on Wednesday, July 31st. Zacks Investment Research upgraded shares of Franklin Street Properties from a “hold” rating to a “buy” rating and set a $9.25 target price on the stock in a report on Friday, August 2nd. BMO Capital Markets reiterated a “hold” rating and issued a $8.00 target price on shares of Franklin Street Properties in a report on Wednesday, May 1st. Finally, Stifel Nicolaus increased their target price on shares of Franklin Street Properties from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $8.56.

Institutional investors and hedge funds have recently bought and sold shares of the business. Bollard Group LLC increased its position in shares of Franklin Street Properties by 1.2% during the first quarter. Bollard Group LLC now owns 107,754 shares of the real estate investment trust’s stock worth $775,000 after acquiring an additional 1,299 shares in the last quarter. Piedmont Investment Advisors Inc. increased its position in shares of Franklin Street Properties by 6.2% during the first quarter. Piedmont Investment Advisors Inc. now owns 27,040 shares of the real estate investment trust’s stock worth $194,000 after acquiring an additional 1,575 shares in the last quarter. 6 Meridian increased its position in shares of Franklin Street Properties by 1.9% during the second quarter. 6 Meridian now owns 100,692 shares of the real estate investment trust’s stock worth $743,000 after acquiring an additional 1,875 shares in the last quarter. First Trust Advisors LP increased its position in shares of Franklin Street Properties by 9.5% during the second quarter. First Trust Advisors LP now owns 23,342 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 2,032 shares in the last quarter. Finally, Texas Permanent School Fund increased its position in shares of Franklin Street Properties by 3.8% during the first quarter. Texas Permanent School Fund now owns 72,808 shares of the real estate investment trust’s stock worth $523,000 after acquiring an additional 2,637 shares in the last quarter.

Franklin Street Properties Company Profile

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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