A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $126K invested across 2 purchases by George J. Carter, CEO at Franklin Street Properties Corp (AMEX: FSP).
Click here to find out which other top insider buys by the ''top brass'' you need to know about »
Carter bets big on FSP:
| Purchased | Insider | Title | Shares | Price/Share | Value |
|---|---|---|---|---|---|
| 08/31/2015 | George J. Carter | President and CEO | 9,000 | $10.50 | $94,490.00 |
| 10/30/2015 | George J. Carter | President and CEO | 3,000 | $10.50 | $31,500.00 |
Carter's average cost works out to $10.50/share. In trading on Monday, bargain hunters could buy shares of Franklin Street Properties Corp (AMEX: FSP) and achieve a cost basis lower than Carter, with shares changing hands as low as $10.27 per share. Shares of Franklin Street Properties Corp were changing hands at $10.49 at last check, trading up about 0.5% on Monday. The chart below shows the one year performance of FSP shares, versus its 200 day moving average:
Looking at the chart above, FSP's low point in its 52 week range is $10.17 per share, with $13.60 as the 52 week high point — that compares with a last trade of $10.49.
The current annualized dividend paid by Franklin Street Properties Corp is $0.76/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 10/21/2015. Below is a long-term dividend history chart for FSP, which can be of good help in judging whether the most recent dividend with approx. 7.3% annualized yield is likely to continue.
According to the ETF Finder at ETFChannel.com, FSP makes up 1.31% of the First Trust RBA Quality Income ETF (NASD: QINC) which is trading relatively unchanged on the day Monday.
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