BMO Capital Markets lowered shares of Franklin Street Properties (NYSEAMERICAN:FSP) from a market perform rating to an underperform rating in a research report sent to investors on Tuesday morning, Marketbeat reports. They currently have $8.00 price objective on the real estate investment trust’s stock.
A number of other brokerages have also issued reports on FSP. Zacks Investment Research lowered shares of Franklin Street Properties from a hold rating to a sell rating in a research note on Thursday, February 15th. B. Riley lowered shares of Franklin Street Properties from a buy rating to a neutral rating and dropped their price target for the stock from $12.50 to $10.00 in a research note on Thursday, February 15th. Stifel Nicolaus lowered shares of Franklin Street Properties from a hold rating to a sell rating and dropped their price target for the stock from $10.00 to $7.00 in a research note on Wednesday, February 14th. Finally, BidaskClub upgraded shares of Franklin Street Properties from a strong sell rating to a sell rating in a research note on Thursday, November 9th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $10.33.
Franklin Street Properties (NYSEAMERICAN:FSP) opened at $8.21 on Tuesday. Franklin Street Properties has a 12-month low of $7.94 and a 12-month high of $12.84. The company has a market cap of $880.37, a price-to-earnings ratio of -54.73 and a beta of 0.67.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 8th. Shareholders of record on Friday, January 19th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $0.76 annualized dividend and a yield of 9.26%. Franklin Street Properties’s payout ratio is -506.67%.
In other Franklin Street Properties news, CEO George J. Carter bought 5,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was purchased at an average price of $8.85 per share, for a total transaction of $44,250.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have acquired 11,718 shares of company stock valued at $100,834.
A number of hedge funds have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB bought a new stake in Franklin Street Properties during the fourth quarter valued at $251,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in Franklin Street Properties during the fourth quarter valued at $422,000. MetLife Investment Advisors LLC bought a new stake in Franklin Street Properties during the fourth quarter valued at $517,000. Macquarie Group Ltd. increased its stake in Franklin Street Properties by 19.3% during the fourth quarter. Macquarie Group Ltd. now owns 98,012 shares of the real estate investment trust’s stock valued at $961,000 after purchasing an additional 15,828 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in Franklin Street Properties during the fourth quarter valued at $111,000.
ILLEGAL ACTIVITY WARNING: “Franklin Street Properties (FSP) Lowered to Underperform at BMO Capital Markets” was reported by Ticker Report and is the property of of Ticker Report. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.tickerreport.com/banking-finance/3227896/franklin-street-properties-fsp-lowered-to-underperform-at-bmo-capital-markets.html.
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.
Receive News & Ratings for Franklin Street Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Street Properties and related companies with MarketBeat.com's FREE daily email newsletter.