Franklin Street Properties Corp. (NYSEMKT:FSP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Franklin Street Properties Corp., a real estate investment trust, is focused on investing in institutional-quality office properties in major U.S. markets. FSP’s strategy is to invest in select urban infill and central business district (CBD) properties, with primary emphasis on their top five markets of Atlanta, Dallas, Denver, Houston, and Minneapolis. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income. FSP’s primary real estate operations include property acquisitions and dispositions, leasing, development and asset management. FSP has also been a cyclical investor in San Diego, Silicon Valley, Greater Boston, Raleigh-Durham, and Greater Washington, DC, and will continue to monitor these markets, as well as other markets, for opportunistic investments. “
A number of other research analysts also recently weighed in on FSP. Robert W. Baird reissued an “outperform” rating and issued a $15.00 price objective on shares of Franklin Street Properties Corp. in a research note on Friday, August 26th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $13.00 price target (up from $12.51) on shares of Franklin Street Properties Corp. in a research report on Monday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $13.38.
Shares of Franklin Street Properties Corp. (NYSEMKT:FSP) traded up 0.81% during trading on Friday, reaching $11.20. The company had a trading volume of 348,617 shares. The stock has a 50 day moving average price of