Franklin Street Properties Corp. [FSP] Revenue clocked in at $165.60 million, down -31.50% YTD: What’s Next?

Franklin Street Properties Corp. [AMEX: FSP] surged by $0.01 during the normal trading session on Tuesday and reaching a high of $2.05 during the day while it closed the day at $1.87. The company report on March 10, 2023 that Franklin Street Properties Corp. Announces the Completion of the Sale of 50 Northwest Point in Elk Grove Village, Illinois for $29.1 Million.

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Franklin Street Properties Corp. (the “Company”, “FSP”, “our” or “we”) (NYSE American: FSP), a real estate investment trust (REIT), announced today the completion of the sale of 50 Northwest Point in Elk Grove Village, Illinois (the “Property”) for gross proceeds of $29.1 million.

The Company expects to record a gain of approximately $8.4 million in the first quarter of 2023 in connection with the sale of the Property.

Franklin Street Properties Corp. stock has also loss -13.82% of its value over the past 7 days. However, FSP stock has declined by -36.61% in the 3 months of the year. Over the past six months meanwhile, it has lost -41.74% and lost -31.50% year-on date.

The market cap for FSP stock reached $195.94 million, with 103.24 million shares outstanding and 92.49 million shares in the current float. Compared to the average trading volume of 984.91K shares, FSP reached a trading volume of 4644356 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $3.00 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 0.14, with the Price to Sales ratio for FSP stock in the period of the last 12 months amounting to 1.18. The Price to Book ratio for the last quarter was 0.25, with the Price to Cash per share for the same quarter was set at 0.04.

FSP stock trade performance evaluation

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 -13.82. With this latest performance, FSP shares dropped by -38.69% in over the last four-week period, additionally sinking by -41.74% over the last 6 months – not to mention a drop of -67.42% 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 16.45, with the RSI for the last a single of trading hit 10.87, and the three-weeks RSI is set at 22.02 for Franklin Street Properties Corp. [FSP]. The present Moving Average for the last 50 days of trading for this stock 2.7298, while it was recorded at 1.9740 for the last single week of trading, and 3.1097 for the last 200 days.

Franklin Street Properties Corp. [FSP]: Insider Ownership positions

There are presently around $171 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 $20.41 million in FSP stocks shares; and FULLER & THALER ASSET MANAGEMENT, INC., currently with $13.6 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, 87 investors decreased positions by around 8,035,318 shares, while 31 investors held positions by with 70,867,652 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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