First Potomac Realty Trust (FPO) Shares Down 1.7%
First Potomac Realty Trust (NYSE:FPO)’s share price was down 1.7% on Wednesday . The company traded as low as $8.83 and last traded at $8.88, with a volume of 96,783 shares. The stock had previously closed at $9.03.
A number of equities analysts have weighed in on FPO shares. SunTrust Banks Inc. upgraded shares of First Potomac Realty Trust from a “neutral” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Friday, September 16th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of First Potomac Realty Trust from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 1st. BMO Capital Markets cut shares of First Potomac Realty Trust from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $15.00 to $10.25 in a research report on Thursday, June 30th. Finally, Stifel Nicolaus upped their price objective on shares of First Potomac Realty Trust from $8.00 to $9.00 and gave the stock a “sell” rating in a research report on Monday, August 1st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. First Potomac Realty Trust has a consensus rating of “Hold” and an average price target of $10.45.
The firm’s market capitalization is $531.88 million. The company’s 50 day moving average price is $9.72 and its 200 day moving average price is $9.24.
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First Potomac Realty Trust (NYSE:FPO) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. First Potomac Realty Trust had a negative net margin of 21.37% and a negative return on equity of 7.60%. The firm had revenue of $38.49 million for the quarter, compared to analyst estimates of $39.08 million. During the same period last year, the firm posted $0.25 EPS. First Potomac Realty Trust’s quarterly revenue was down 10.6% on a year-over-year basis. On average, equities analysts anticipate that First Potomac Realty Trust will post $1.00 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of FPO. Virginia Retirement System purchased a new position in First Potomac Realty Trust during the first quarter worth $275,000. Prudential Financial Inc. raised its position in First Potomac Realty Trust by 5.7% in the first quarter. Prudential Financial Inc. now owns 4,185,209 shares of the company’s stock worth $37,918,000 after buying an additional 224,952 shares during the period. BlackRock Inc. raised its position in First Potomac Realty Trust by 5.0% in the first quarter. BlackRock Inc. now owns 57,025 shares of the company’s stock worth $516,000 after buying an additional 2,736 shares during the period. BlackRock Group LTD raised its position in First Potomac Realty Trust by 3.5% in the first quarter. BlackRock Group LTD now owns 430,325 shares of the company’s stock worth $3,900,000 after buying an additional 14,358 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in First Potomac Realty Trust by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,514,702 shares of the company’s stock worth $22,783,000 after buying an additional 21,128 shares during the period. Hedge funds and other institutional investors own 92.12% of the company’s stock.
About First Potomac Realty Trust
First Potomac Realty Trust is engaged in the ownership, management, development and redevelopment of office and business park properties in the greater Washington, DC region. The Company’s segments include Washington, DC, Maryland, Northern Virginia and Southern Virginia. It conducts its business through First Potomac Realty Investment Limited Partnership, the Company’s operating partnership (the Operating Partnership).
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