Franklin Street Properties (NYSE:FSP) Shares Down 2.3% – What’s Next?

Franklin Street Properties Corp. (NYSE:FSP)’s share price traded down 2.3% during mid-day trading on Monday. The stock traded as low as $0.34 and last traded at $0.3421. 355,463 shares traded hands during trading, a decline of 38% from the average session volume of 569,637 shares. The stock had previously closed at $0.35.

Franklin Street Properties Stock Up 3.9%

The firm has a market capitalization of $38.90 million, a price-to-earnings ratio of -0.75 and a beta of 0.85. The business’s 50-day moving average is $0.41 and its two-hundred day moving average is $0.52. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.20 and a current ratio of 2.20.

Hedge Funds Weigh In On Franklin Street Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Private Management Group Inc. increased its position in shares of Franklin Street Properties by 1.1% in the 2nd quarter. Private Management Group Inc. now owns 10,161,175 shares of the company’s stock valued at $5,233,000 after buying an additional 107,557 shares in the last quarter. Bank of America Corp DE bought a new position in Franklin Street Properties during the second quarter worth about $2,466,000. Renaissance Technologies LLC grew its stake in Franklin Street Properties by 21.9% in the first quarter. Renaissance Technologies LLC now owns 1,692,603 shares of the company’s stock valued at $1,125,000 after acquiring an additional 304,177 shares during the period. BlackRock Inc. acquired a new position in Franklin Street Properties in the second quarter valued at about $716,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Franklin Street Properties in the second quarter worth about $257,000. 61.41% of the stock is owned by institutional investors.

Franklin Street Properties Company Profile

Franklin Street Properties Corp. is a self-administered real estate investment trust (REIT) that owns, operates and manages commercial real estate in the United States. The company has historically focused primarily on office properties, including buildings serving corporate, professional services and other business tenants.

Franklin Street Properties has pursued a strategy of acquiring and managing office assets in selected U.S. markets, with activities that may include leasing, property management, asset repositioning and the disposition of properties that no longer fit its investment objectives.