First Potomac Realty Trust (FPO) Stock Price Up 3.2%
Shares of First Potomac Realty Trust (NYSE:FPO) rose 3.2% during mid-day trading on Thursday . The stock traded as high as $10.06 and last traded at $10.02, with a volume of 62,359 shares changing hands. The stock had previously closed at $9.71.
FPO has been the subject of several recent research reports. BMO Capital Markets downgraded First Potomac Realty Trust from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $15.00 to $10.25 in a report on Thursday, June 30th. Stifel Nicolaus increased their price target on First Potomac Realty Trust from $8.00 to $9.00 and gave the company a “sell” rating in a report on Monday, August 1st. Finally, Zacks Investment Research downgraded First Potomac Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $10.54.
The firm’s market capitalization is $585.94 million. The firm’s 50 day moving average is $9.79 and its 200 day moving average is $9.07.
First Potomac Realty Trust (NYSE:FPO) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The business earned $38.49 million during the quarter, compared to analyst estimates of $39.08 million. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 EPS. Analysts predict that First Potomac Realty Trust will post $1.00 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Monday, August 8th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Thursday, August 4th.
A hedge fund recently bought a new stake in First Potomac Realty Trust stock. Jennison Associates LLC acquired a new stake in shares of First Potomac Realty Trust (NYSE:FPO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 101,844 shares of the company’s stock, valued at approximately $1,161,000. Jennison Associates LLC owned about 0.18% of First Potomac Realty Trust as of its most recent SEC filing.
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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