Franklin Street Properties Corp. (FSP) Sees Large Increase in Short Interest

Franklin Street Properties Corp. (NYSEAMERICAN:FSP) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,203,682 shares, an increase of 12.5% from the October 15th total of 1,958,342 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average trading volume of 364,778 shares, the short-interest ratio is presently 6.0 days.

A number of analysts have issued reports on FSP shares. B. Riley upgraded shares of Franklin Street Properties from a “neutral” rating to a “buy” rating and set a $9.00 price target on the stock in a report on Thursday, November 1st. Zacks Investment Research upgraded shares of Franklin Street Properties from a “sell” rating to a “hold” rating in a report on Monday, November 5th. Finally, BMO Capital Markets upgraded shares of Franklin Street Properties from an “underperform” rating to a “market perform” rating in a report on Friday, November 2nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $8.69.

Shares of NYSEAMERICAN FSP opened at $7.74 on Friday. Franklin Street Properties has a 52-week low of $6.93 and a 52-week high of $11.00.

Franklin Street Properties (NYSEAMERICAN:FSP) last announced its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The company had revenue of $68.71 million during the quarter, compared to the consensus estimate of $66.44 million.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Stockholders of record on Friday, October 19th were issued a $0.09 dividend. The ex-dividend date was Thursday, October 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.65%.

Institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in shares of Franklin Street Properties in the 2nd quarter worth about $100,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Franklin Street Properties in the 2nd quarter worth about $107,000. First American Bank bought a new stake in shares of Franklin Street Properties in the 3rd quarter worth about $148,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Franklin Street Properties in the 2nd quarter worth about $155,000. Finally, Advisors Asset Management Inc. increased its holdings in shares of Franklin Street Properties by 102.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 67,455 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 34,181 shares during the last quarter.

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About Franklin Street Properties

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on investing in institutional-quality office properties in the U.S. FSP's strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis on our five core markets of Atlanta, Dallas, Denver, Houston, and Minneapolis.

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