Ergoteles LLC Acquires New Position in Franklin Street Properties Corp. (NYSEAMERICAN:FSP)

Posted by Defense World Staff on Mar 5th, 2023

Ergoteles LLC acquired a new stake in shares of Franklin Street Properties Corp. (NYSEAMERICAN:FSP – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 105,399 shares of the real estate investment trust’s stock, valued at approximately $277,000. Ergoteles LLC owned about 0.10% of Franklin Street Properties at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Great West Life Assurance Co. Can grew its position in Franklin Street Properties by 1.7% in the first quarter. Great West Life Assurance Co. Can now owns 165,107 shares of the real estate investment trust’s stock worth $1,002,000 after acquiring an additional 2,802 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Franklin Street Properties by 0.5% in the first quarter. Prudential Financial Inc. now owns 1,061,356 shares of the real estate investment trust’s stock worth $6,262,000 after purchasing an additional 5,300 shares in the last quarter. Raymond James & Associates increased its position in Franklin Street Properties by 19.2% during the first quarter. Raymond James & Associates now owns 42,322 shares of the real estate investment trust’s stock worth $250,000 after buying an additional 6,821 shares during the last quarter. Penserra Capital Management LLC raised its holdings in Franklin Street Properties by 10.9% during the third quarter. Penserra Capital Management LLC now owns 71,499 shares of the real estate investment trust’s stock valued at $188,000 after buying an additional 7,000 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Franklin Street Properties by 3.2% in the second quarter. Swiss National Bank now owns 244,963 shares of the real estate investment trust’s stock worth $1,021,000 after buying an additional 7,600 shares during the last quarter. Hedge funds and other institutional investors own 83.37% of the company’s stock.

Wall Street Analyst Weigh In

FSP has been the topic of a number of analyst reports. TheStreet lowered Franklin Street Properties from a “c-” rating to a “d” rating in a report on Wednesday, February 15th. B. Riley lowered their price target on Franklin Street Properties from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Wednesday, February 22nd.

Franklin Street Properties Price Performance

Franklin Street Properties stock opened at $2.42 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 0.80. Franklin Street Properties Corp. has a fifty-two week low of $2.33 and a fifty-two week high of $6.14. The stock’s fifty day moving average price is $3.24. The firm has a market cap of $249.84 million, a price-to-earnings ratio of 242.24 and a beta of 0.89.

Franklin Street Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Friday, January 27th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, January 26th. This represents a $0.04 annualized dividend and a dividend yield of 1.65%. Franklin Street Properties’s dividend payout ratio is presently 400.40%.

Insider Activity at Franklin Street Properties

In related news, Director Brian N. Hansen bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 17th. The shares were acquired at an average price of $2.75 per share, with a total value of $137,500.00. Following the completion of the transaction, the director now owns 568,066 shares of the company’s stock, valued at approximately $1,562,181.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Brian N. Hansen bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 17th. The shares were acquired at an average price of $2.75 per share, with a total value of $137,500.00. Following the completion of the transaction, the director now owns 568,066 shares of the company’s stock, valued at approximately $1,562,181.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian N. Hansen bought 40,903 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The shares were bought at an average cost of $2.38 per share, for a total transaction of $97,349.14. Following the transaction, the director now directly owns 718,066 shares of the company’s stock, valued at approximately $1,708,997.08. The disclosure for this purchase can be found here. Insiders acquired a total of 175,903 shares of company stock worth $444,899 in the last 90 days. 4.66% of the stock is owned by company insiders.

Franklin Street Properties Profile

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Franklin Street Properties Corp. is an investment company, which specializes and focuses on the asset class of real estate. It operates through the Real Estate Operations segment, which is involved in real estate rental operations, leasing, secured financing of real estate and services provided for asset management, property management, property acquisitions, dispositions and development.