First Potomac Realty Trust Price Target Cut to $16.00 (FPO)
Research analysts at Morgan Stanley dropped their target price on shares of First Potomac Realty Trust (NYSE:FPO) from $18.00 to $16.00 in a report released on Monday, Analyst Ratings Network reports. Morgan Stanley’s price target would indicate a potential upside of 21.86% from the company’s current price.
FPO has been the subject of a number of other recent research reports. Analysts at Evercore Partners reiterated an “equal weight” rating on shares of First Potomac Realty Trust in a research note on Tuesday, April 29th. They now have a $14.00 price target on the stock. Analysts at MLV & Co
initiated coverage on shares of First Potomac Realty Trust in a research note on Tuesday, March 25th. They set a “buy” rating and a $16.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. First Potomac Realty Trust has an average rating of “Buy” and a consensus price target of $14.99.
First Potomac Realty Trust (NYSE:FPO) traded up 0.84% during mid-day trading on Monday, hitting $13.24. 184,888 shares of the company’s stock traded hands. First Potomac Realty Trust has a 52-week low of $10.96 and a 52-week high of $15.86. The stock has a 50-day moving average of $12.8 and a 200-day moving average of $12.37. The company’s market cap is $778.0 million. First Potomac Realty Trust also saw a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 2,513,344 shares, an increase of 48.4% from the April 15th total of 1,693,590 shares. Based on an average trading volume of 150,229 shares, the short-interest ratio is presently 16.7 days. Currently, 4.4% of the shares of the company are short sold.
First Potomac Realty Trust (NYSE:FPO) last released its earnings data on Thursday, April 24th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.01. During the same quarter in the previous year, the company posted $0.30 earnings per share. On average, analysts predict that First Potomac Realty Trust will post $0.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 15th. Shareholders of record on Tuesday, May 6th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Friday, May 2nd.
First Potomac Realty Trustis engaged in the ownership, management, development and redevelopment of office, business park and industrial properties in the greater Washington, D.
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