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Private Management Group Inc. Purchases 340,229 Shares of Franklin Street Properties Corp. (NYSE:FSP)

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Key Points

  • Private Management Group Inc. increased its holdings in Franklin Street Properties Corp. by 3.6%, owning approximately 9.44% of the company, valued at about $17.41 million.
  • Franklin Street Properties announced a quarterly dividend of $0.01, with a yield of 2.40%, set to be paid on August 14th.
  • Wall Street analysts have downgraded Franklin Street Properties from a "hold" to a "sell" rating, indicating a more cautious outlook on the stock.
  • Looking to export and analyze Franklin Street Properties data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Private Management Group Inc. grew its position in shares of Franklin Street Properties Corp. (NYSE:FSP - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 9,778,625 shares of the company's stock after purchasing an additional 340,229 shares during the quarter. Private Management Group Inc. owned 9.44% of Franklin Street Properties worth $17,406,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in Franklin Street Properties by 78.0% during the first quarter. GAMMA Investing LLC now owns 22,531 shares of the company's stock valued at $40,000 after purchasing an additional 9,873 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of Franklin Street Properties in the 4th quarter valued at approximately $300,000. Two Sigma Investments LP grew its stake in shares of Franklin Street Properties by 9.7% in the 4th 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 during the period. Bank of America Corp DE grew its stake in shares of Franklin Street Properties by 0.6% in the 4th 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 during the period. Finally, JPMorgan Chase & Co. grew its position in Franklin Street Properties by 78.6% during the 4th quarter. JPMorgan Chase & Co. now owns 413,898 shares of the company's stock worth $757,000 after acquiring an additional 182,217 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Get Our Latest Analysis on FSP

Franklin Street Properties Trading Up 2.1%

Shares of FSP stock traded up $0.04 during trading hours on Tuesday, reaching $1.71. The company had a trading volume of 71,769 shares, compared to its average volume of 377,465. The firm has a market cap of $176.58 million, a price-to-earnings ratio of -3.41 and a beta of 0.87. Franklin Street Properties Corp. has a 1-year low of $1.36 and a 1-year high of $2.21. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.20 and a quick ratio of 2.20. The company has a 50 day moving average of $1.74 and a 200 day moving average of $1.74.

Franklin Street Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, July 25th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Friday, July 25th. Franklin Street Properties's payout ratio is presently -6.25%.

About Franklin Street Properties

(Free Report)

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.

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Institutional Ownership by Quarter for Franklin Street Properties (NYSE:FSP)

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