Janney Montgomery Scott Downgrades Franklin Street Properties (NYSEAMERICAN:FSP) to Neutral

Franklin Street Properties (NYSEAMERICAN:FSP) was downgraded by equities research analysts at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a report issued on Monday, April 9th, Marketbeat Ratings reports.

A number of other analysts have also recently weighed in on FSP. Zacks Investment Research cut shares of Franklin Street Properties from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. BMO Capital Markets cut shares of Franklin Street Properties from a “market perform” rating to an “underperform” rating and set a $8.00 target price on the stock. in a research note on Tuesday, February 27th. Stifel Nicolaus cut shares of Franklin Street Properties from a “hold” rating to a “sell” rating and lowered their target price for the company from $10.00 to $7.00 in a research note on Wednesday, February 14th. Finally, B. Riley cut shares of Franklin Street Properties from a “buy” rating to a “neutral” rating and lowered their target price for the company from $12.50 to $10.00 in a research note on Thursday, February 15th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Franklin Street Properties has a consensus rating of “Hold” and an average price target of $10.33.

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FSP traded down $0.06 during trading on Monday, hitting $7.53. The stock had a trading volume of 491,669 shares, compared to its average volume of 468,282. Franklin Street Properties has a 12 month low of $7.08 and a 12 month high of $12.45.



Franklin Street Properties (NYSEAMERICAN:FSP) last posted its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.30). Franklin Street Properties had a negative return on equity of 2.25% and a negative net margin of 7.38%. The company had revenue of $66.84 million for the quarter, compared to the consensus estimate of $67.68 million.

In other news, CEO George J. Carter purchased 5,000 shares of Franklin Street Properties stock in a transaction on Tuesday, February 20th. The shares were purchased at an average cost of $8.85 per share, for a total transaction of $44,250.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders acquired 11,718 shares of company stock worth $100,834.

Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in shares of Franklin Street Properties by 2.3% during the third quarter. Rhumbline Advisers now owns 235,216 shares of the real estate investment trust’s stock worth $2,498,000 after purchasing an additional 5,225 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of Franklin Street Properties by 3.5% during the fourth quarter. Teachers Advisors LLC now owns 194,529 shares of the real estate investment trust’s stock worth $2,089,000 after purchasing an additional 6,667 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Franklin Street Properties by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,500,921 shares of the real estate investment trust’s stock worth $15,940,000 after purchasing an additional 10,003 shares in the last quarter. Zeke Capital Advisors LLC acquired a new position in shares of Franklin Street Properties during the fourth quarter worth approximately $110,000. Finally, Verition Fund Management LLC acquired a new position in shares of Franklin Street Properties during the fourth quarter worth approximately $111,000.

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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.

Analyst Recommendations for Franklin Street Properties (NYSEAMERICAN:FSP)

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