First Potomac Realty Trust (FPO) Downgraded to “D+” at TheStreet

TheStreet lowered shares of First Potomac Realty Trust (NYSE:FPO) from a c rating to a d+ rating in a research note issued to investors on Wednesday.

Several other brokerages also recently issued reports on FPO. SunTrust Banks, Inc. downgraded First Potomac Realty Trust from a buy rating to a hold rating and set a $11.00 target price on the stock. in a research note on Thursday, January 19th. Zacks Investment Research raised First Potomac Realty Trust from a hold rating to a buy rating and set a $12.00 target price on the stock in a research note on Monday, February 27th. Evercore ISI raised First Potomac Realty Trust from a hold rating to an outperform rating in a research note on Friday, March 3rd. Finally, Wells Fargo & Co reissued a hold rating and set a $10.00 target price on shares of First Potomac Realty Trust in a research note on Thursday, December 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $10.45.

Analyst Recommendations for First Potomac Realty Trust (NYSE:FPO)

Shares of First Potomac Realty Trust (NYSE:FPO) traded down 0.60% during mid-day trading on Wednesday, reaching $9.95. The company’s stock had a trading volume of 8,046 shares. First Potomac Realty Trust has a 12-month low of $8.01 and a 12-month high of $11.16. The stock’s market capitalization is $584.05 million. The company’s 50-day moving average price is $10.05 and its 200-day moving average price is $9.79.

First Potomac Realty Trust (NYSE:FPO) last issued its earnings results on Thursday, February 23rd. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. The company had revenue of $38.97 million for the quarter, compared to the consensus estimate of $39.83 million. First Potomac Realty Trust had a negative return on equity of 8.28% and a negative net margin of 22.83%. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS. On average, equities research analysts forecast that First Potomac Realty Trust will post ($0.08) earnings per share for the current fiscal year.

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A number of hedge funds have recently modified their holdings of FPO. BlackRock Group LTD increased its stake in shares of First Potomac Realty Trust by 5.0% in the third quarter. BlackRock Group LTD now owns 417,197 shares of the company’s stock valued at $3,817,000 after buying an additional 19,764 shares during the period. BlackRock Inc. increased its stake in shares of First Potomac Realty Trust by 20.8% in the third quarter. BlackRock Inc. now owns 84,429 shares of the company’s stock valued at $772,000 after buying an additional 14,538 shares during the period. Prudential Financial Inc. increased its stake in shares of First Potomac Realty Trust by 2.2% in the third quarter. Prudential Financial Inc. now owns 5,196,561 shares of the company’s stock valued at $47,548,000 after buying an additional 111,028 shares during the period. JPMorgan Chase & Co. increased its stake in shares of First Potomac Realty Trust by 1.5% in the third quarter. JPMorgan Chase & Co. now owns 842,779 shares of the company’s stock valued at $7,712,000 after buying an additional 12,467 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in shares of First Potomac Realty Trust by 8.1% in the third quarter. UBS Asset Management Americas Inc. now owns 89,679 shares of the company’s stock valued at $821,000 after buying an additional 6,700 shares during the period. 91.75% of the stock is currently owned by institutional investors.

First Potomac Realty Trust Company Profile

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).

5 Day Chart for NYSE:FPO

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