Markets

Pick Up This Bargain 6.2% Yielder Even Cheaper Than Chief Operating Officer Anchondo Did

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on August 30, Franklin Street Properties Corp's Chief Operating Officer, Eriel Anchondo, invested $22,284.30 into 1,770 shares of FSP, for a cost per share of $12.59. Bargain hunters tend to pay particular attention to insider buys like this one, because 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. In trading on Monday, bargain hunters could buy shares of Franklin Street Properties Corp (Symbol: FSP) and achieve a cost basis 3.7% cheaper than Anchondo, with shares changing hands as low as $12.13 per share. Franklin Street Properties Corp shares are currently trading off about 0.7% on the day. The chart below shows the one year performance of FSP shares, versus its 200 day moving average:

Franklin Street Properties Corp Chart

Looking at the chart above, FSP's low point in its 52 week range is $8.67 per share, with $13.18 as the 52 week high point - that compares with a last trade of $12.31. By comparison, below is a table showing the prices at which FSP insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
04/29/2016 Kenneth A. Hoxsie Director 10,000 $10.57 $105,700.00
04/29/2016 Eriel Anchondo SVP/Operations 2,100 $10.64 $22,346.52
05/25/2016 John N. Burke Director 1,385 $11.08 $15,349.95
08/16/2016 Kenneth A. Hoxsie Director 8,000 $12.45 $99,566.40
08/30/2016 Eriel Anchondo Chief Operating Officer 1,770 $12.59 $22,284.30

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 07/20/2016. 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. 6.2% annualized yield is likely to continue.

FSP+Dividend+History+Chart

According to the ETF Finder at ETF Channel, FSP makes up 1.13% of the SuperDividend ETF (Symbol: SDIV) which is trading lower by about 0.7% on the day Monday.

Click here to find out which 9 other dividend bargains you can buy cheaper than insiders »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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