First Potomac Realty Trust (NYSE:FPO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “First Potomac Realty Trust is a self-administered, self-managed real estate investment trust that acquires, operates and develops industrial and flex properties in Maryland, Virginia and the Washington, D.C. metropolitan area. “
A number of other equities analysts have also recently weighed in on FPO. TheStreet raised shares of First Potomac Realty Trust from a “d+” rating to a “c+” rating in a research report on Thursday, April 27th. Stifel Nicolaus cut shares of First Potomac Realty Trust from a “hold” rating to a “sell” rating and set a $9.50 price target on the stock. in a research report on Tuesday, May 2nd. ValuEngine cut shares of First Potomac Realty Trust from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Evercore ISI cut shares of First Potomac Realty Trust from an “in-line” rating to an “underperform” rating and set a $11.00 price target on the stock. in a research report on Monday, June 12th. Finally, SunTrust Banks, Inc. cut 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. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. First Potomac Realty Trust presently has an average rating of “Hold” and a consensus target price of $11.03.
First Potomac Realty Trust (NYSE:FPO) remained flat at $11.13 on Wednesday. The company’s stock had a trading volume of 825,378 shares. First Potomac Realty Trust has a 52-week low of $8.01 and a 52-week high of $11.46. The firm has a 50 day moving average price of $11.14 and a 200-day moving average price of $10.66. The firm has a market cap of $653.78 million, a price-to-earnings ratio of 15.97 and a beta of 0.83.
First Potomac Realty Trust (NYSE:FPO) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $35.40 million during the quarter, compared to analysts’ expectations of $34.94 million. During the same period in the prior year, the company earned $0.27 EPS. The firm’s revenue was down 8.1% on a year-over-year basis. Analysts expect that First Potomac Realty Trust will post ($0.08) earnings per share for the current year.
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Several large investors have recently made changes to their positions in FPO. Stifel Financial Corp raised its stake in shares of First Potomac Realty Trust by 11.8% in the first quarter. Stifel Financial Corp now owns 11,606 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 1,225 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of First Potomac Realty Trust during the first quarter valued at approximately $147,000. Forsta AP Fonden purchased a new stake in shares of First Potomac Realty Trust during the second quarter valued at approximately $178,000. Credit Agricole S A raised its stake in shares of First Potomac Realty Trust by 48.7% in the first quarter. Credit Agricole S A now owns 18,780 shares of the real estate investment trust’s stock valued at $193,000 after buying an additional 6,152 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of First Potomac Realty Trust during the first quarter valued at approximately $246,000. Institutional investors own 91.37% of the company’s stock.
About First Potomac Realty Trust
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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