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

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

Franklin Street Properties Price Performance

Franklin Street Properties stock opened at $1.70 on Friday. The business’s 50-day simple moving average is $1.68 and its 200 day simple moving average is $1.81. 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 stock has a market cap of $175.83 million, a price-to-earnings ratio of -3.04 and a beta of 0.82. Franklin Street Properties has a 12-month low of $1.47 and a 12-month high of $2.72.

Franklin Street Properties (NYSE:FSP) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The company had revenue of $30.83 million during the quarter. Franklin Street Properties had a negative return on equity of 10.06% and a negative net margin of 52.85%. As a group, research analysts anticipate that Franklin Street Properties will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Franklin Street Properties

Institutional investors have recently added to or reduced their stakes in the stock. Cannon Global Investment Management LLC bought a new stake in Franklin Street Properties during the first quarter worth about $25,000. Point72 DIFC Ltd bought a new stake in shares of Franklin Street Properties during the 2nd quarter worth approximately $34,000. Fifth Lane Capital LP acquired a new stake in shares of Franklin Street Properties in the 1st quarter valued at approximately $56,000. The Manufacturers Life Insurance Company bought a new position in shares of Franklin Street Properties in the second quarter valued at $66,000. Finally, Algert Global LLC raised its position in Franklin Street Properties by 123.1% during the second quarter. Algert Global LLC now owns 60,225 shares of the company’s stock worth $92,000 after acquiring an additional 33,233 shares in the last quarter. 61.41% of the stock is owned by institutional investors.

Franklin Street Properties Company Profile

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.