Franklin Street Properties Corp. (FSP) Short Interest Up 23.5% in November
Franklin Street Properties Corp. (NYSEAMERICAN:FSP) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,574,060 shares, an increase of 23.5% from the October 31st total of 1,274,425 shares. Based on an average daily volume of 366,035 shares, the short-interest ratio is currently 4.3 days. Approximately 1.5% of the company’s shares are sold short.
A number of equities research analysts have recently commented on the company. Zacks Investment Research raised Franklin Street Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. ValuEngine raised Franklin Street Properties from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. B. Riley reissued a “buy” rating on shares of Franklin Street Properties in a research report on Thursday, November 2nd. Stifel Nicolaus reissued a “hold” rating and set a $10.00 price target on shares of Franklin Street Properties in a research report on Thursday, September 21st. Finally, Janney Montgomery Scott assumed coverage on Franklin Street Properties in a research report on Friday, September 8th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $11.75.
Shares of Franklin Street Properties (FSP) opened at $10.78 on Friday. Franklin Street Properties has a 1 year low of $9.59 and a 1 year high of $13.27.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, October 20th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 7.05%. The ex-dividend date of this dividend was Thursday, October 19th. Franklin Street Properties’s dividend payout ratio (DPR) is presently -844.44%.
In other Franklin Street Properties news, Director Brian N. Hansen acquired 7,500 shares of the stock in a transaction dated Tuesday, September 5th. The stock was acquired at an average price of $9.94 per share, with a total value of $74,550.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its position in Franklin Street Properties by 20.3% during the second quarter. BNP Paribas Arbitrage SA now owns 73,310 shares of the real estate investment trust’s stock valued at $812,000 after acquiring an additional 12,358 shares during the period. Marshall Wace North America L.P. purchased a new stake in shares of Franklin Street Properties in the second quarter worth about $2,713,000. First Trust Advisors LP boosted its position in shares of Franklin Street Properties by 164.8% in the second quarter. First Trust Advisors LP now owns 125,192 shares of the real estate investment trust’s stock worth $1,387,000 after buying an additional 77,915 shares during the period. Virginia Retirement Systems ET AL boosted its position in shares of Franklin Street Properties by 10.6% in the second quarter. Virginia Retirement Systems ET AL now owns 255,600 shares of the real estate investment trust’s stock worth $2,832,000 after buying an additional 24,600 shares during the period. Finally, IndexIQ Advisors LLC boosted its position in shares of Franklin Street Properties by 11.7% in the second quarter. IndexIQ Advisors LLC now owns 125,417 shares of the real estate investment trust’s stock worth $1,390,000 after buying an additional 13,147 shares during the period.
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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