First Potomac Realty Trust (FPO) Trading 3.2% Higher
First Potomac Realty Trust (NYSE:FPO) traded up 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 traded. The stock had previously closed at $9.71.
Several equities research analysts recently commented on the stock. BMO Capital Markets reiterated a “hold” rating on shares of First Potomac Realty Trust in a research note on Wednesday, July 6th. Stifel Nicolaus lifted their price target on shares of First Potomac Realty Trust from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Monday, August 1st. Finally, Zacks Investment Research lowered shares of First Potomac Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $10.54.
The company’s 50-day moving average price is $9.83 and its 200-day moving average price is $9.09. The firm’s market cap is $574.31 million.
First Potomac Realty Trust (NYSE:FPO) last issued its earnings results on Thursday, July 28th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. The firm had revenue of $38.49 million for the quarter, compared to analysts’ expectations of $39.08 million. The firm’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. Equities research analysts anticipate that First Potomac Realty Trust will post $1.00 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Monday, August 8th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 4.05%. 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 purchased a new stake in First Potomac Realty Trust (NYSE:FPO) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 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 at the end of the most recent reporting period.
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).