Short sellers have ramped up bets against FSP heading into next week's earnings print. Short interest climbed 29% over the past month to 3.9% of the float as the office REIT trades near $0.67.
Short interest stands at 4.05 million shares as of April 23, representing 3.9% of the float. Positions rose 2.4% over the past day and 2.9% over the past week. The one-month jump of 29% marks a significant acceleration in bearish bets. Days to cover sits at 13.5 based on the most recent FINRA settlement data.
Cost to borrow averaged 0.73% as of April 23, down 32% week-over-week after recent volatility. Utilisation stood at 11%, well below the 52-week high of 18.6% hit earlier this month.
Put-call ratio spiked to 87.2 on April 24, hitting a new 52-week high. The reading sits more than four standard deviations above the 20-day mean of 4.6. This extreme skew toward puts signals heavy defensive positioning or outright bearish sentiment ahead of the earnings release.
Coverage remains sparse and stale. The most recent analyst action came from B. Riley Securities in May 2023, when Craig Kucera maintained a Buy rating but lowered his target to $2.50 from $3.50. The standing price target of $1.25 implies 87% upside from current levels, though no consensus rating is available given the lack of active coverage.
The REIT trades at -8.8x trailing earnings as of early March 2023 data. Franklin Street ranks in the 49th percentile on ORTEX's analyst recommendation differential score and 45th percentile on dividend score. Short score sits at 49, close to neutral.
Insiders purchased $405,000 net over the trailing 90-day window as of December 2024, with Director Bruce Schanzer accounting for the bulk of the buying in mid-December. Private Management Group holds the largest institutional stake at 9.8%, followed by Newtyn Management at 6.9%. BlackRock and Vanguard added modestly to positions in Q1 2026.
The company last reported on March 10, 2026. Prior prints occurred in early March and mid-February 2026.
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