AQR Capital Management LLC Sells 529,316 Shares of Franklin Street Properties Corp. (NYSE:FSP)

AQR Capital Management LLC cut its holdings in shares of Franklin Street Properties Corp. (NYSE:FSP) by 54.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 442,252 shares of the company’s stock after selling 529,316 shares during the period. AQR Capital Management LLC’s holdings in Franklin Street Properties were worth $677,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FSP. Cannon Global Investment Management LLC acquired a new stake in shares of Franklin Street Properties in the 1st quarter valued at about $25,000. Point72 DIFC Ltd acquired a new stake in shares of Franklin Street Properties in the 2nd quarter valued at about $34,000. Fifth Lane Capital LP acquired a new stake in shares of Franklin Street Properties in the 1st quarter valued at about $56,000. Bfsg LLC raised its stake in shares of Franklin Street Properties by 16.2% in the 2nd quarter. Bfsg LLC now owns 63,410 shares of the company’s stock valued at $97,000 after purchasing an additional 8,860 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Franklin Street Properties in the 1st quarter valued at about $147,000. 61.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Franklin Street Properties from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th.

Franklin Street Properties Stock Performance

NYSE FSP opened at $1.60 on Monday. The company has a quick ratio of 2.79, a current ratio of 2.79 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $165.49 million, a price-to-earnings ratio of -2.86 and a beta of 0.81. The stock has a fifty day simple moving average of $1.66 and a 200 day simple moving average of $1.77. Franklin Street Properties Corp. has a twelve month low of $1.47 and a twelve month high of $2.72.

Franklin Street Properties (NYSE:FSP) last posted its earnings results on Tuesday, July 30th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.12). Franklin Street Properties had a negative return on equity of 10.06% and a negative net margin of 52.85%. The firm had revenue of $30.83 million for the quarter. Sell-side analysts expect that Franklin Street Properties Corp. will post 0.13 EPS for the current year.

Franklin Street Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Friday, October 18th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.04 annualized dividend and a yield of 2.50%. Franklin Street Properties’s dividend payout ratio (DPR) is presently -7.14%.

Franklin Street Properties Profile

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.