Franklin Street Properties Corp. (FSP) Shares Bought by Truepoint Inc.
Truepoint Inc. increased its stake in Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 962.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 798,815 shares of the real estate investment trust’s stock after purchasing an additional 723,597 shares during the quarter. Truepoint Inc. owned about 0.74% of Franklin Street Properties worth $799,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Prudential Financial Inc. lifted its holdings in Franklin Street Properties by 18.2% in the 3rd quarter. Prudential Financial Inc. now owns 2,155,062 shares of the real estate investment trust’s stock valued at $22,887,000 after acquiring an additional 331,950 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Franklin Street Properties by 58.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 823,060 shares of the real estate investment trust’s stock valued at $9,120,000 after acquiring an additional 304,281 shares during the last quarter. Laurion Capital Management LP acquired a new stake in Franklin Street Properties in the 2nd quarter valued at about $2,925,000. Marshall Wace North America L.P. acquired a new stake in Franklin Street Properties in the 2nd quarter valued at about $2,713,000. Finally, Citadel Advisors LLC lifted its holdings in Franklin Street Properties by 114.9% in the 3rd quarter. Citadel Advisors LLC now owns 452,144 shares of the real estate investment trust’s stock valued at $4,802,000 after acquiring an additional 241,725 shares during the last quarter.
A number of research firms have commented on FSP. BidaskClub raised shares of Franklin Street Properties from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 9th. Zacks Investment Research raised shares of Franklin Street Properties from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Monday, November 6th. B. Riley reaffirmed a “buy” rating on shares of Franklin Street Properties in a research note on Thursday, November 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $10.00 price objective on shares of Franklin Street Properties in a research note on Thursday, September 21st. Finally, Janney Montgomery Scott began coverage on shares of Franklin Street Properties in a research note on Friday, September 8th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, two have given 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 an average target price of $11.75.
Franklin Street Properties Corp. (FSP) traded up $0.22 during mid-day trading on Thursday, reaching $10.71. 229,300 shares of the company’s stock were exchanged, compared to its average volume of 402,790. Franklin Street Properties Corp. has a 52 week low of $9.59 and a 52 week high of $13.27.
Franklin Street Properties (NYSEAMERICAN:FSP) last posted its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $67.30 million during the quarter, compared to analyst estimates of $66.31 million. Franklin Street Properties had a net margin of 2.77% and a return on equity of 0.85%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 earnings per share.
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Franklin Street Properties Company Profile
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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