Franklin Street Properties Corp. (NYSEMKT:FSP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $13.00 price objective on the real estate investment trust’s stock. Zacks Investment Research’s price objective suggests a potential upside of 9.15% from the stock’s current price.
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. “
Several other brokerages have also recently commented on FSP. Robert W. Baird upgraded Franklin Street Properties Corp. from a “neutral” rating to an “outperform” rating and upped their target price for the company from $10.00 to $15.00 in a report on Friday, July 29th. BMO Capital Markets reissued a “market perform” rating and set a $13.00 price objective (up previously from $12.51) on shares of Franklin Street Properties Corp. in a research note on Monday, August 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $13.38.