Franklin Street Properties shares are trading on heavy volume today, having fallen 0.5% to $12.20. Approximately 294,000 shares have changed hands today vs. average 30-day volume of 238,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.
Over the past year, Franklin Street Properties has traded in a range of $9.43 to $13.91 and is now at $12.20, 29% above that low. The 200-day and 50-day moving averages have moved 0.23% higher and 0.34% higher over the past week, respectively.
Franklin Street Properties Corporation operates real estate businesses and offers investment banking services. The Company organizes real estate investment trusts (REIT) and syndicates them through private placements, acquires real estate on behalf of the REITs, and offers asset management and property management services for the REITs.
Franklin Street Properties has overhead space with shares priced $12.20, or 1.1% below the average consensus analyst price target of $12.33. The stock should find initial support at its 50-day moving average (MA) of $11.33 and further support at its 200-day MA of $10.75.