Franklin Street Properties (NYSEAMERICAN:FSP) Rating Increased to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Franklin Street Properties (NYSEAMERICAN:FSP) from a hold rating to a buy rating in a research note published on Friday, Zacks.com reports. They currently have $9.25 price target on the real estate investment trust’s stock.

According to Zacks, “Franklin Street Properties Corp., a real estate investment trust, is focused on investing in institutional-quality office properties in major U.S. markets. FSP’s strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis on their top five markets of Atlanta, Dallas, Denver, Houston, and Minneapolis. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income. FSP’s primary real estate operations include property acquisitions and dispositions, leasing, development and asset management. FSP has also been a cyclical investor in San Diego, Silicon Valley, Greater Boston, Raleigh-Durham, and Greater Washington, DC, and will continue to monitor these markets, as well as other markets, for opportunistic investments. “

Several other equities research analysts have also recently issued reports on FSP. TheStreet raised shares of Franklin Street Properties from a d+ rating to a c rating in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their price objective on shares of Franklin Street Properties from $7.00 to $8.00 and gave the company a hold rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets reissued a hold rating and issued a $8.00 price objective on shares of Franklin Street Properties in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Franklin Street Properties currently has an average rating of Buy and an average target price of $8.56.

Franklin Street Properties stock opened at $7.65 on Friday. Franklin Street Properties has a 1 year low of $5.87 and a 1 year high of $8.69.

Franklin Street Properties (NYSEAMERICAN:FSP) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.18). The business had revenue of $66.81 million for the quarter, compared to the consensus estimate of $65.23 million.

The firm also recently declared a dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, July 19th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, July 18th.

Several large investors have recently bought and sold shares of FSP. Nisa Investment Advisors LLC raised its holdings in shares of Franklin Street Properties by 334.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 6,510 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 5,010 shares in the last quarter. CAPROCK Group Inc. bought a new stake in shares of Franklin Street Properties in the 1st quarter valued at about $93,000. Magnus Financial Group LLC bought a new stake in shares of Franklin Street Properties in the 1st quarter valued at about $104,000. Pictet Asset Management Ltd. raised its holdings in shares of Franklin Street Properties by 57.1% in the 1st quarter. Pictet Asset Management Ltd. now owns 16,500 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of Franklin Street Properties in the 1st quarter valued at about $148,000.

Franklin Street Properties Company Profile

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on investing in institutional-quality office properties in the U.S. FSP's strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis on our five core markets of Atlanta, Dallas, Denver, Houston, and Minneapolis.

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