UPDATE: Stifel Nicolaus Upgrades Franklin Street Properties to Hold

Stifel Nicolaus is out with its report today on Franklin Street Properties FSP, upgrading FSP to Hold from Sell. In its report, Stifel Nicolaus writes, "We are upgrading Franklin Street from Sell to Hold as we like 1) its willingness to sell stabilized assets with long (over six year) average lease terms at attractive cap rates, 2) low leverage at 25%, 3) FFO can grow through occupancy gains, 4) lease rollover for 2011-2014 averages a very low 6.5% per annum, 5) that FSP finished the quarter at 87% leased, up 140 bps from 85.6% leased at YE10." Shares of FSP closed Wednesday at $12.52.