Private Management Group Inc. Has $17.41 Million Holdings in Franklin Street Properties Corp. (NYSE:FSP)

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.

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

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in Franklin Street Properties by 7.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 111,568 shares of the company's stock worth $205,000 after purchasing an additional 7,311 shares during the period. ProShare Advisors LLC grew its stake in Franklin Street Properties by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 27,470 shares of the company's stock valued at $50,000 after buying an additional 9,040 shares during the last quarter. GAMMA Investing LLC raised its holdings in Franklin Street Properties by 78.0% in the 1st quarter. GAMMA Investing LLC now owns 22,531 shares of the company's stock valued at $40,000 after acquiring an additional 9,873 shares during the period. Tower Research Capital LLC TRC raised its holdings in Franklin Street Properties by 118.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 19,654 shares of the company's stock valued at $36,000 after acquiring an additional 10,674 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Franklin Street Properties by 22.6% during the fourth quarter. Wells Fargo & Company MN now owns 67,651 shares of the company's stock worth $124,000 after acquiring an additional 12,468 shares during the last quarter. 61.41% of the stock is currently owned by institutional investors.

Franklin Street Properties Stock Down 2.3%

FSP opened at $1.67 on Friday. The stock has a fifty day moving average of $1.74 and a 200-day moving average of $1.74. The company has a market capitalization of $172.96 million, a P/E ratio of -3.34 and a beta of 0.87. Franklin Street Properties Corp. has a fifty-two week low of $1.36 and a fifty-two week high of $2.21. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.20 and a current ratio of 2.20.

Franklin Street Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, July 25th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Friday, July 25th. Franklin Street Properties's dividend payout ratio (DPR) is -6.25%.

Wall Street Analysts Forecast Growth

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

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.

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