Franklin Street Properties Corp. (FSP) Short Interest Up 14.5% in January
Franklin Street Properties Corp. (NYSEAMERICAN:FSP) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 2,054,072 shares, an increase of 14.5% from the January 12th total of 1,794,192 shares. Based on an average daily trading volume, of 411,194 shares, the days-to-cover ratio is currently 5.0 days. Currently, 2.0% of the company’s stock are short sold.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Franklin Street Properties from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. BidaskClub upgraded shares of Franklin Street Properties from a “strong sell” rating to a “sell” rating in a report on Thursday, November 9th. Finally, B. Riley reiterated a “buy” rating on shares of Franklin Street Properties in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $11.75.
Shares of Franklin Street Properties (FSP) opened at $9.53 on Wednesday. Franklin Street Properties has a fifty-two week low of $9.14 and a fifty-two week high of $12.84. The stock has a market cap of $1,040.00, a P/E ratio of -105.78 and a beta of 0.67.
Hedge funds have recently modified their holdings of the stock. Shelton Capital Management purchased a new stake in Franklin Street Properties in the second quarter worth approximately $111,000. Virtu Financial LLC purchased a new stake in Franklin Street Properties in the fourth quarter worth approximately $114,000. SeaCrest Wealth Management LLC purchased a new stake in Franklin Street Properties in the fourth quarter worth approximately $141,000. Schroder Investment Management Group purchased a new stake in Franklin Street Properties in the third quarter worth approximately $144,000. Finally, QS Investors LLC boosted its holdings in Franklin Street Properties by 9.6% in the second quarter. QS Investors LLC now owns 13,985 shares of the real estate investment trust’s stock worth $155,000 after purchasing an additional 1,220 shares during the last quarter.
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About Franklin Street Properties
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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