Franklin Street Properties Corp. $FSP Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has reduced its stake in Franklin Street Properties Corp. by 41.9% in the first quarter, now holding approximately 0.56% of the company.
• Several hedge funds have recently made significant adjustments to their positions in Franklin Street Properties, with some increasing their holdings by over 100%.
• Wall Street Zen has downgraded Franklin Street Properties from a "hold" to a "sell" rating, reflecting a change in market sentiment towards the stock.

Russell Investments Group Ltd. reduced its stake in Franklin Street Properties Corp. (NYSE:FSP - Free Report) by 41.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 584,688 shares of the company's stock after selling 422,102 shares during the period. Russell Investments Group Ltd. owned 0.56% of Franklin Street Properties worth $1,041,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FSP. Tower Research Capital LLC TRC raised its position in shares of Franklin Street Properties by 118.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 19,654 shares of the company's stock valued at $36,000 after purchasing an additional 10,674 shares during the period. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 9,873 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Franklin Street Properties in the 4th quarter worth approximately $47,000. XTX Topco Ltd bought a new position in Franklin Street Properties in the 1st quarter worth $46,000. Finally, ProShare Advisors LLC raised its holdings in Franklin Street Properties by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 27,470 shares of the company's stock worth $50,000 after purchasing an additional 9,040 shares in 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 lowered shares of Franklin Street Properties from a "hold" rating to a "sell" rating in a research note on Thursday, May 15th.

Franklin Street Properties Stock Performance

Shares of FSP remained flat at $1.66 during mid-day trading on Friday. 116,089 shares of the company's stock were exchanged, compared to its average volume of 369,779. Franklin Street Properties Corp. has a fifty-two week low of $1.36 and a fifty-two week high of $2.21. The business's 50 day moving average price is $1.67 and its two-hundred day moving average price is $1.71. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.20 and a current ratio of 2.20. The firm has a market capitalization of $172.13 million, a price-to-earnings ratio of -3.32 and a beta of 0.87.

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

Franklin Street Properties Dividend Announcement

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

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.