Does Franklin Street Properties Corp. (FSP) offer a good opportunity for investors?

Franklin Street Properties Corp. (AMEX: FSP) stock fell -5.15% on Friday to $1.84 against a previous-day closing price of $1.94. With 2.25 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.72 million shares. During the session, the REIT – Office company that operates in wider Real Estate sector, reached to the highest price of $1.9900 whereas the lowest price it dropped to was $1.8000. The 52-week range on FSP shows that it touched its highest point at $3.19 and its lowest point at $1.13 during that stretch. It currently has a 1-year price target of $2.25. With its current market cap of 200.71 million, FSP has annualized dividend of $0.04 while the current yield stands at 2.17%. Beta for the stock currently stands at 0.79.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FSP was down-trending over the past week, with a drop of -2.65%, but this was down by -1.60% over a month. Three-month performance surged to 26.90% while six-month performance fell -1.08%. The stock lost -39.43% in the past year, while it has lost -32.60% so far this year. A look at the trailing 12-month EPS for FSP yields 0.08 with Next year EPS estimates of -0.19. For the next quarter, that number is -0.07. This implies an EPS growth rate of -98.80% for this year and -90.00% for next year.

Float and Shares Shorts:

At present, 103.33 million FSP shares are outstanding with a float of 81.60 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.77 million, which was 1.71% higher than short shares on Jul 30, 2023. In addition to Mr. George John Carter as the firm’s Chairman & CEO, Mr. Jeffrey B. Carter serves as its Pres & Chief Investment Officer.

Institutional Ownership:

Through their ownership of 83.47% of FSP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.25% of FSP, in contrast to 22.14% held by mutual funds. Shares owned by individuals account for 21.05%. As the largest shareholder in FSP with 8.50% of the stake, The Vanguard Group, Inc. holds 8,794,270 shares worth 8,794,270. A second-largest stockholder of FSP, Fuller & Thaler Asset Management, holds 7,316,532 shares, controlling over 7.07% of the firm’s shares. HighTower Advisors LLC is the third largest shareholder in FSP, holding 6,915,089 shares or 6.69% stake. With a 5.66% stake in FSP, the Undiscovered Managers Behavioral is the largest stakeholder. A total of 5,853,655 shares are owned by the mutual fund manager. The Vanguard Real Estate Index Fund, which owns about 3.32% of FSP stock, is the second-largest Mutual Fund holder. It holds 3,435,475 shares valued at 6.6 million. Vanguard Total Stock Market ETF holds 2.67% of the stake in FSP, owning 2,758,628 shares worth 5.3 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, FSP reported revenue of $41.30M and operating income of -$2.25M. The EBITDA in the recently reported quarter was $16.37M and diluted EPS was -$0.09.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FSP since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With FSP analysts setting a high price target of $2.50 and a low target of $2.00, the average target price over the next 12 months is $2.25. Based on these targets, FSP could surge 35.87% to reach the target high and rise by 8.7% to reach the target low. Reaching the average price target will result in a growth of 22.28% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded FSP stock several times over the past three months with 5 Buys and 0 Sells. In these transactions, 48,590 shares were bought while 0 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 996,095 while 365,000 shares were sold.

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