Franklin Street Properties (NYSEAMERICAN:FSP) Price Target Cut to $4.50 by Analysts at B. Riley

Franklin Street Properties (NYSEAMERICAN:FSPGet Rating) had its target price lowered by B. Riley from $6.00 to $4.50 in a research note published on Friday morning, The Fly reports. B. Riley also issued estimates for Franklin Street Properties’ Q3 2022 earnings at $0.09 EPS, FY2022 earnings at $0.36 EPS, Q1 2023 earnings at $0.09 EPS, Q2 2023 earnings at $0.08 EPS, Q3 2023 earnings at $0.09 EPS, Q4 2023 earnings at $0.07 EPS and FY2023 earnings at $0.32 EPS.

Franklin Street Properties Trading Down 2.0 %

Shares of Franklin Street Properties stock opened at $3.35 on Friday. The stock has a market cap of $345.56 million, a price-to-earnings ratio of 6.98 and a beta of 0.87. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.46 and a current ratio of 1.46. Franklin Street Properties has a 12-month low of $3.30 and a 12-month high of $6.58.

Franklin Street Properties (NYSEAMERICAN:FSPGet Rating) last posted its earnings results on Tuesday, May 3rd. The real estate investment trust reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Franklin Street Properties had a net margin of 22.85% and a return on equity of 6.78%. Equities research analysts anticipate that Franklin Street Properties will post 0.56 EPS for the current year.

Franklin Street Properties Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Tuesday, July 19th will be issued a $0.01 dividend. The ex-dividend date is Monday, July 18th. This represents a $0.04 dividend on an annualized basis and a yield of 1.19%. Franklin Street Properties’s dividend payout ratio (DPR) is presently 8.33%.

Insider Activity at Franklin Street Properties

In other news, Director Brian N. Hansen purchased 42,500 shares of the stock in a transaction on Thursday, June 16th. The stock was purchased at an average price of $3.93 per share, for a total transaction of $167,025.00. Following the acquisition, the director now owns 275,000 shares in the company, valued at $1,080,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Brian N. Hansen purchased 50,000 shares of the stock in a transaction on Tuesday, June 14th. The stock was purchased at an average price of $3.96 per share, for a total transaction of $198,000.00. Following the acquisition, the director now owns 225,000 shares in the company, valued at $891,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian N. Hansen acquired 42,500 shares of Franklin Street Properties stock in a transaction dated Thursday, June 16th. The shares were bought at an average cost of $3.93 per share, with a total value of $167,025.00. Following the transaction, the director now owns 275,000 shares in the company, valued at $1,080,750. The disclosure for this purchase can be found here. 4.35% of the stock is owned by company insiders.

Institutional Trading of Franklin Street Properties

Large investors have recently modified their holdings of the stock. Truist Financial Corp acquired a new stake in Franklin Street Properties in the 1st quarter valued at $396,000. New York State Teachers Retirement System lifted its stake in Franklin Street Properties by 4.7% during the 1st quarter. New York State Teachers Retirement System now owns 121,152 shares of the real estate investment trust’s stock valued at $715,000 after acquiring an additional 5,400 shares in the last quarter. ProShare Advisors LLC lifted its stake in Franklin Street Properties by 60.2% during the 4th quarter. ProShare Advisors LLC now owns 25,175 shares of the real estate investment trust’s stock valued at $150,000 after acquiring an additional 9,459 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Franklin Street Properties during the 4th quarter valued at $967,000. Finally, Confluence Investment Management LLC lifted its stake in Franklin Street Properties by 30.3% during the 1st quarter. Confluence Investment Management LLC now owns 215,000 shares of the real estate investment trust’s stock valued at $1,268,000 after acquiring an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 81.65% of the company’s stock.

Franklin Street Properties Company Profile

(Get Rating)

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income.

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