Renaissance Technologies LLC boosted its holdings in Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 18.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,330,100 shares of the real estate investment trust’s stock after acquiring an additional 356,900 shares during the period. Renaissance Technologies LLC’s holdings in Franklin Street Properties were worth $25,025,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in FSP. LSV Asset Management lifted its holdings in Franklin Street Properties by 29.4% in the fourth quarter. LSV Asset Management now owns 4,908,775 shares of the real estate investment trust’s stock valued at $52,720,000 after acquiring an additional 1,114,012 shares during the last quarter. Truepoint Inc. lifted its stake in Franklin Street Properties by 962.0% during the third quarter. Truepoint Inc. now owns 798,815 shares of the real estate investment trust’s stock worth $799,000 after purchasing an additional 723,597 shares in the last quarter. BlackRock Inc. lifted its stake in Franklin Street Properties by 3.8% during the fourth quarter. BlackRock Inc. now owns 16,413,175 shares of the real estate investment trust’s stock worth $176,277,000 after purchasing an additional 602,668 shares in the last quarter. Citadel Advisors LLC lifted its stake in Franklin Street Properties by 114.9% during the third quarter. Citadel Advisors LLC now owns 452,144 shares of the real estate investment trust’s stock worth $4,802,000 after purchasing an additional 241,725 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in Franklin Street Properties by 2.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 8,321,934 shares of the real estate investment trust’s stock worth $89,378,000 after purchasing an additional 168,944 shares in the last quarter.
FSP has been the topic of a number of research reports. B. Riley cut Franklin Street Properties from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $12.50 to $10.00 in a research note on Thursday, February 15th. Stifel Nicolaus cut Franklin Street Properties from a “hold” rating to a “sell” rating and decreased their price target for the stock from $10.00 to $7.00 in a research note on Wednesday, February 14th. BMO Capital Markets set a $11.00 price target on Franklin Street Properties and gave the stock a “hold” rating in a research note on Wednesday, February 14th. Finally, Zacks Investment Research cut Franklin Street Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.33.
Franklin Street Properties (NYSEAMERICAN:FSP) last announced its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.30). The company had revenue of $66.84 million during the quarter, compared to analyst estimates of $67.68 million. Franklin Street Properties had a negative net margin of 7.38% and a negative return on equity of 2.25%.
In related news, CEO George J. Carter acquired 5,000 shares of Franklin Street Properties stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average cost of $8.85 per share, for a total transaction of $44,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders bought 11,718 shares of company stock worth $100,834.
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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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