Private Management Group Inc. Acquires 673,231 Shares of Franklin Street Properties Corp. (NYSE:FSP)

Private Management Group Inc. lifted its holdings in Franklin Street Properties Corp. (NYSE:FSP - Free Report) by 7.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,222,820 shares of the company's stock after buying an additional 673,231 shares during the quarter. Private Management Group Inc. owned approximately 8.90% of Franklin Street Properties worth $16,324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Point72 DIFC Ltd purchased a new stake in Franklin Street Properties during the 2nd quarter valued at about $34,000. Fifth Lane Capital LP purchased a new stake in Franklin Street Properties during the 1st quarter valued at about $56,000. SG Americas Securities LLC grew its position in 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 during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Franklin Street Properties during the 2nd quarter valued at about $66,000. Finally, Algert Global LLC grew its position in Franklin Street Properties by 123.1% during the 2nd quarter. Algert Global LLC now owns 60,225 shares of the company's stock valued at $92,000 after purchasing an additional 33,233 shares during the last quarter. 61.41% of the stock is owned by hedge funds and other institutional investors.

Franklin Street Properties Stock Performance

FSP traded up $0.15 during midday trading on Friday, hitting $1.92. 944,212 shares of the company traded hands, compared to its average volume of 619,576. The company has a quick ratio of 2.79, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $198.85 million, a PE ratio of -4.92 and a beta of 0.81. The company's 50-day moving average is $1.72 and its 200 day moving average is $1.73. Franklin Street Properties Corp. has a 52 week low of $1.47 and a 52 week high of $2.72.

Franklin Street Properties (NYSE:FSP - Get Free Report) last posted 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). The company had revenue of $29.68 million for the quarter. Franklin Street Properties had a negative net margin of 32.11% and a negative return on equity of 5.88%. During the same quarter in the prior year, the company earned ($0.44) EPS. On average, research analysts expect that Franklin Street Properties Corp. will post 0.13 EPS for the current year.

Franklin Street Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, October 18th. Franklin Street Properties's dividend payout ratio is currently -10.26%.

Analysts Set New Price Targets

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.