Franklin Street Properties Corp. (AMEX:FSP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
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. “
Separately, Robert W. Baird cut Franklin Street Properties Corp. from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $14.00 to $12.00 in a research report on Thursday, May 4th.
Franklin Street Properties Corp. (AMEX:FSP) opened at 11.44 on Wednesday. Franklin Street Properties Corp. has a 12 month low of $10.62 and a 12 month high of $13.27. The company has a market capitalization of $1.23 billion, a PE ratio of 116.73 and a beta of 0.84. The company has a 50-day moving average price of $11.76 and a 200 day moving average price of $12.22.
Franklin Street Properties Corp. (AMEX:FSP) last issued its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The business had revenue of $68.76 million for the quarter, compared to the consensus