Nuveen LLC Acquires New Shares in Franklin Street Properties Corp. $FSP

Key Points

• Nuveen LLC purchased a new stake in Franklin Street Properties Corp. with 302,167 shares valued at approximately $538,000, reflecting a growing interest from institutional investors.
• Franklin Street Properties recently experienced a downgrading from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a potential negative outlook on the stock.
• The company announced a quarterly dividend of $0.01 per share, translating to an annualized dividend yield of 2.4%, despite reporting negative financial metrics such as a return on equity of -7.79%.

Nuveen LLC acquired a new stake in Franklin Street Properties Corp. (NYSE:FSP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 302,167 shares of the company's stock, valued at approximately $538,000. Nuveen LLC owned approximately 0.29% of Franklin Street Properties as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. Private Management Group Inc. grew its holdings in shares of Franklin Street Properties by 3.6% in the first quarter. Private Management Group Inc. now owns 9,778,625 shares of the company's stock valued at $17,406,000 after purchasing an additional 340,229 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Franklin Street Properties by 0.6% in the fourth quarter. Bank of America Corp DE now owns 5,210,885 shares of the company's stock valued at $9,536,000 after purchasing an additional 29,773 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Franklin Street Properties by 17.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 748,965 shares of the company's stock valued at $1,333,000 after purchasing an additional 111,304 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of Franklin Street Properties by 9.7% in the fourth quarter. Two Sigma Investments LP now owns 494,156 shares of the company's stock valued at $904,000 after purchasing an additional 43,492 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Franklin Street Properties by 47.0% in the fourth quarter. Two Sigma Advisers LP now owns 417,100 shares of the company's stock worth $763,000 after acquiring an additional 133,300 shares during the last quarter. Institutional investors and hedge funds own 61.41% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Franklin Street Properties from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th.

Franklin Street Properties Stock Performance

Shares of FSP stock traded up $0.01 during midday trading on Wednesday, hitting $1.66. The company had a trading volume of 1,930 shares, compared to its average volume of 365,175. The company's 50 day simple moving average is $1.66 and its 200 day simple moving average is $1.69. Franklin Street Properties Corp. has a 52-week low of $1.36 and a 52-week high of $2.21. The stock has a market cap of $171.61 million, a price-to-earnings ratio of -3.31 and a beta of 0.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.20 and a quick ratio of 2.20.

Franklin Street Properties (NYSE:FSP - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.08) EPS for the quarter. Franklin Street Properties had a negative return on equity of 7.79% and a negative net margin of 43.90%. Research analysts anticipate that Franklin Street Properties Corp. will post 0.12 earnings per share for the current fiscal year.

Franklin Street Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, July 25th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, July 25th. Franklin Street Properties's dividend payout ratio is currently -7.69%.

About Franklin Street Properties

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.