Wall Street analysts forecast that First Potomac Realty Trust (NYSE:FPO) will report $34.84 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for First Potomac Realty Trust’s earnings, with the highest sales estimate coming in at $37.14 million and the lowest estimate coming in at $33.57 million. First Potomac Realty Trust posted sales of $40.17 million during the same quarter last year, which would indicate a negative year over year growth rate of 13.3%. The firm is expected to report its next quarterly earnings results on Thursday, October 26th.

According to Zacks, analysts expect that First Potomac Realty Trust will report full-year sales of $34.84 million for the current year, with estimates ranging from $138.33 million to $149.25 million. For the next financial year, analysts expect that the firm will report sales of $136.74 million per share, with estimates ranging from $129.84 million to $145.15 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for First Potomac Realty Trust.

First Potomac Realty Trust (NYSE:FPO) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. First Potomac Realty Trust had a net margin of 26.86% and a return on equity of 8.96%. The company had revenue of $35.40 million during the quarter, compared to analyst estimates of $34.94 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The business’s quarterly revenue was down 8.1% compared to the same quarter last year.

FPO has been the topic of a number of recent research reports. Stifel Nicolaus reiterated a “sell” rating and set a $11.15 price target (up previously from $9.50) on shares of First Potomac Realty Trust in a research note on Thursday, June 29th. BidaskClub upgraded shares of First Potomac Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. TheStreet upgraded shares of First Potomac Realty Trust from a “d+” rating to a “c+” rating in a research note on Thursday, April 27th. Zacks Investment Research downgraded shares of First Potomac Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, SunTrust Banks, Inc. downgraded shares of First Potomac Realty Trust from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a research report on Tuesday, June 13th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.03.

Several large investors have recently added to or reduced their stakes in FPO. Koch Industries Inc. acquired a new stake in First Potomac Realty Trust during the second quarter worth $122,000. Susquehanna International Group LLP purchased a new position in First Potomac Realty Trust during the second quarter valued at $554,000. The Manufacturers Life Insurance Company boosted its position in First Potomac Realty Trust by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 48,217 shares of the real estate investment trust’s stock valued at $536,000 after buying an additional 902 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in First Potomac Realty Trust during the second quarter valued at $500,000. Finally, CNH Partners LLC purchased a new position in First Potomac Realty Trust during the second quarter valued at $4,474,000. 87.34% of the stock is owned by institutional investors.

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Shares of First Potomac Realty Trust (NYSE:FPO) opened at 11.13 on Wednesday. The company’s 50-day moving average is $11.14 and its 200-day moving average is $10.68. First Potomac Realty Trust has a 12-month low of $8.01 and a 12-month high of $11.46. The firm has a market capitalization of $653.78 million, a price-to-earnings ratio of 15.97 and a beta of 0.83.

First Potomac Realty Trust Company Profile

First Potomac Realty Trust (First Potomac) is engaged in ownership, management, redevelopment and development 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. The Company conducts its business through First Potomac Realty Investment Limited Partnership, its operating partnership.

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Earnings History and Estimates for First Potomac Realty Trust (NYSE:FPO)

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