Franklin Street Properties (NYSE:FSP) Upgraded by StockNews.com to Hold

Franklin Street Properties (NYSE:FSP) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Franklin Street Properties Stock Performance

Franklin Street Properties stock opened at $1.72 on Tuesday. Franklin Street Properties has a twelve month low of $1.47 and a twelve month high of $2.72. 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 $177.90 million, a P/E ratio of -3.07 and a beta of 0.82. The stock’s 50 day moving average is $1.67 and its 200 day moving average is $1.84.

Franklin Street Properties (NYSE:FSP) last released its earnings results on Tuesday, July 30th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $30.83 million during the quarter. On average, equities research analysts predict that Franklin Street Properties will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Private Management Group Inc. boosted its position in shares of Franklin Street Properties by 30.0% during the second quarter. Private Management Group Inc. now owns 8,549,589 shares of the company’s stock valued at $13,081,000 after buying an additional 1,970,790 shares during the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Franklin Street Properties during the first quarter valued at $2,796,000. Acuitas Investments LLC boosted its position in shares of Franklin Street Properties by 39.5% during the second quarter. Acuitas Investments LLC now owns 2,075,596 shares of the company’s stock valued at $3,176,000 after buying an additional 587,401 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Franklin Street Properties by 25.9% during the first quarter. Acadian Asset Management LLC now owns 2,225,376 shares of the company’s stock valued at $5,050,000 after buying an additional 458,235 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Franklin Street Properties by 1,005.2% during the second quarter. Bank of New York Mellon Corp now owns 299,743 shares of the company’s stock valued at $459,000 after buying an additional 272,622 shares during the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.

About Franklin Street Properties

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.