Brandywine Global Investment Management LLC lifted its position in shares of Franklin Street Properties Corp. (NYSEAMERICAN:FSP) by 77.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,169,247 shares of the real estate investment trust’s stock after acquiring an additional 508,574 shares during the period. Brandywine Global Investment Management LLC owned about 1.09% of Franklin Street Properties worth $6,150,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of FSP. BlackRock Inc. lifted its stake in Franklin Street Properties by 4.3% in the 1st quarter. BlackRock Inc. now owns 18,990,454 shares of the real estate investment trust’s stock worth $103,499,000 after acquiring an additional 783,415 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Franklin Street Properties by 1.5% during the 1st quarter. Principal Financial Group Inc. now owns 674,589 shares of the real estate investment trust’s stock valued at $3,676,000 after acquiring an additional 10,093 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Franklin Street Properties in the 1st quarter valued at approximately $66,000. Acadian Asset Management LLC acquired a new stake in Franklin Street Properties in the 1st quarter valued at approximately $48,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in Franklin Street Properties in the 1st quarter valued at approximately $243,000. Hedge funds and other institutional investors own 83.03% of the company’s stock.
FSP opened at $5.24 on Thursday. The stock has a market cap of $562.75 million, a P/E ratio of 12.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.07 and a current ratio of 2.07. Franklin Street Properties Corp. has a 52-week low of $3.79 and a 52-week high of $6.65.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 11th. Shareholders of record on Friday, October 22nd will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, October 21st. This represents a $0.36 dividend on an annualized basis and a yield of 6.87%. Franklin Street Properties’s payout ratio is currently 48.65%.
Separately, Zacks Investment Research upgraded Franklin Street Properties from a “sell” rating to a “hold” rating in a research report on Monday.
Franklin Street Properties Company Profile
Franklin Street Properties Corp. is an investment company, which specializes and focuses on the asset class of real estate. It operates through the Real Estate Operations segment, which involves in real estate rental operations, leasing, secured financing of real estate and services provided for asset management, property management, property acquisitions, dispositions and development.
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