Insider Buying: Franklin Street Properties Corp. (NYSE:FSP) Director Acquires 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 dated Wednesday, December 11th. The stock was bought at an average price of $1.87 per share, for a total transaction of $206,801.43. Following the completion of the purchase, the director now owns 3,405,463 shares in the company, valued at $6,368,215.81. This represents a 3.36 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Franklin Street Properties Trading Up 6.3 %

Shares of FSP stock traded up $0.12 during trading hours on Friday, hitting $2.01. 760,018 shares of the company’s stock traded hands, compared to its average volume of 598,831. The stock has a market cap of $208.18 million, a PE ratio of 10.50 and a beta of 0.82. The stock’s 50 day simple moving average is $1.82 and its 200 day simple moving average is $1.72. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Franklin Street Properties Corp. has a 12 month low of $1.47 and a 12 month high of $2.72.

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

Franklin Street Properties Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new stake in shares of Franklin Street Properties during the second quarter worth $34,000. BNP Paribas Financial Markets grew its holdings in Franklin Street Properties by 33.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,718 shares of the company’s stock worth $38,000 after acquiring an additional 5,433 shares during the period. XTX Topco Ltd bought a new position in shares of Franklin Street Properties in the 3rd quarter worth about $39,000. Virtu Financial LLC acquired a new position in shares of Franklin Street Properties in the 3rd quarter valued at about $43,000. Finally, SG Americas Securities LLC boosted its position in shares of Franklin Street Properties by 92.1% during the 3rd quarter. SG Americas Securities LLC now owns 32,846 shares of the company’s stock valued at $58,000 after purchasing an additional 15,750 shares in the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Franklin Street Properties from a “hold” rating to a “sell” rating in a research note 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.