Insider Buying: Franklin Street Properties Corp. (NYSE:FSP) Director Purchases 110,589 Shares of Stock

Franklin Street Properties Corp. (NYSE:FSP) Director Bruce J. Schanzer purchased 110,589 shares of Franklin Street Properties stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average price of $1.87 per share, with a total value of $206,801.43. Following the transaction, the director now owns 3,405,463 shares of the company’s stock, valued at $6,368,215.81. This trade represents a 3.36 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Franklin Street Properties Stock Performance

NYSE:FSP opened at $2.01 on Friday. The company has a market capitalization of $208.17 million, a P/E ratio of -5.15 and a beta of 0.82. The business has a fifty day simple moving average of $1.82 and a two-hundred day simple moving average of $1.72. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.28 and a quick ratio of 2.28. Franklin Street Properties Corp. has a 1 year low of $1.47 and a 1 year high of $2.72.

Franklin Street Properties (NYSE:FSP) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.10). The firm had revenue of $29.68 million during the quarter. Franklin Street Properties had a negative return on equity of 5.88% and a negative net margin of 32.11%. During the same period in the prior year, the business posted ($0.44) earnings per share. On average, analysts expect that Franklin Street Properties Corp. will post 0.14 earnings per share for the current year.

Franklin Street Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Friday, October 18th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, October 18th. Franklin Street Properties’s payout ratio is currently -10.26%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FSP. Private Management Group Inc. boosted its holdings in shares of Franklin Street Properties by 30.0% in the second quarter. Private Management Group Inc. now owns 8,549,589 shares of the company’s stock worth $13,081,000 after acquiring an additional 1,970,790 shares during the period. RBF Capital LLC purchased a new stake in Franklin Street Properties during the 3rd quarter worth about $1,795,000. Acuitas Investments LLC boosted its stake in Franklin Street Properties by 39.5% in the 2nd quarter. Acuitas Investments LLC now owns 2,075,596 shares of the company’s stock worth $3,176,000 after purchasing an additional 587,401 shares during the period. Bank of New York Mellon Corp grew its holdings in Franklin Street Properties by 1,005.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 299,743 shares of the company’s stock valued at $459,000 after buying an additional 272,622 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Franklin Street Properties by 9.7% during the 2nd quarter. Acadian Asset Management LLC now owns 2,440,734 shares of the company’s stock valued at $3,732,000 after buying an additional 215,358 shares in the last quarter. 61.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Franklin Street Properties from a “hold” rating to a “sell” rating in a research report on Monday, October 28th.

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.