First Potomac Realty Trust Downgraded by Raymond James to “Market Perform” (FPO)
First Potomac Realty Trust (NYSE:FPO) was downgraded by equities researchers at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday, TheFlyOnTheWall.com reports.
Separately, analysts at Morgan Stanley cut their price target on shares of First Potomac Realty Trust from $18.00 to $16.00 in a research note on Monday, May 12th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $14.98.
Shares of First Potomac Realty Trust (NYSE:FPO) traded down 0.75% on Tuesday, hitting $13.26. 86,998 shares of the company’s stock traded hands. First Potomac Realty Trust has a 1-year low of $10.96 and a 1-year high of $14.39. The stock has a 50-day moving average of $13.16 and a 200-day moving average of $12.92. The company’s market cap is $779.8 million.
First Potomac Realty Trust (NYSE:FPO) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The company had revenue of $41.19 million for the quarter, compared to the consensus estimate of $41.04 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts expect that First Potomac Realty Trust will post $0.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 15th. Stockholders of record on Wednesday, August 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 4.49%. The ex-dividend date of this dividend is Monday, August 4th.
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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