Franklin Street Properties Corp. [FSP] moved down -5.37: Why It’s Important

Franklin Street Properties Corp. [AMEX: FSP] loss -5.37% or -0.13 points to close at $2.29 with a heavy trading volume of 5321078 shares. The company report on March 3, 2023 that Fair Isaac & Co. Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600.

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S&P Dow Jones Indices (“S&P DJI”) will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices effective prior to the open of trading on Monday, March 20, to coincide with the quarterly rebalance. The changes are being made to ensure each index is more representative of its market capitalization range. The company moving to the S&P 500 is more representative of the large-cap market space. All companies moving to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies moving to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being discretionarily removed from the S&P SmallCap 600 are no longer representative of the small-cap market space.

S&P MidCap 400 constituent Fair Isaac & Co Inc. (NYSE:FICO) will replace Lumen Technologies Inc. (NYSE:LUMN) in the S&P 500, and Lumen Technologies will replace Bed Bath & Beyond Inc (NASD:BBBY) in the S&P SmallCap 600. Valaris Limited (NYSE:VAL) will replace Fair Isaac & Co in the S&P MidCap 400.

It opened the trading session at $2.25, the shares rose to $2.36 and dropped to $2.19, the range by which the price of stock traded the whole day. The daily chart for FSP points out that the company has recorded -20.21% loss over the past six months. However, it is still 1.72% lower than its most recent low trading price.

If we look at the average trading volume of 768.77K shares, FSP reached to a volume of 5321078 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Franklin Street Properties Corp. [FSP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FSP shares is $3.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FSP stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Robert W. Baird have made an estimate for Franklin Street Properties Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 07, 2020. The new note on the price target was released on January 07, 2020, representing the official price target for Franklin Street Properties Corp. stock.

The Average True Range (ATR) for Franklin Street Properties Corp. is set at 0.12, with the Price to Sales ratio for FSP stock in the period of the last 12 months amounting to 1.40. The Price to Book ratio for the last quarter was 0.31, with the Price to Cash per share for the same quarter was set at 0.04.

Trading performance analysis for FSP stock

Franklin Street Properties Corp. [FSP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.03. With this latest performance, FSP shares dropped by -26.84% in over the last four-week period, additionally sinking by -20.21% over the last 6 months – not to mention a drop of -60.65% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FSP stock in for the last two-week period is set at 25.43, with the RSI for the last a single of trading hit 19.90, and the three-weeks RSI is set at 30.42 for Franklin Street Properties Corp. [FSP]. The present Moving Average for the last 50 days of trading for this stock 2.82, while it was recorded at 2.38 for the last single week of trading, and 3.18 for the last 200 days.

An analysis of insider ownership at Franklin Street Properties Corp. [FSP]

There are presently around $209 million, or 84.90% of FSP stock, in the hands of institutional investors. The top three institutional holders of FSP stocks are: BLACKROCK INC. with ownership of 15,567,349, which is approximately 0.47% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 10,916,819 shares of the stock with an approximate value of $25.0 million in FSP stocks shares; and FULLER & THALER ASSET MANAGEMENT, INC., currently with $16.66 million in FSP stock with ownership of nearly 5.91% of the company’s market capitalization.

87 institutional holders increased their position in Franklin Street Properties Corp. [AMEX:FSP] by around 12,342,288 shares. Additionally, 88 investors decreased positions by around 8,036,032 shares, while 30 investors held positions by with 70,866,938 shares. The mentioned changes placed institutional holdings at 91,245,258 shares, according to the latest SEC report filing. FSP stock had 22 new institutional investments in for a total of 2,143,611 shares, while 29 institutional investors sold positions of 696,658 shares during the same period.


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