Oppenheimer Asset Management Inc. raised its stake in shares of First Potomac Realty Trust (NYSE:FPO) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,342 shares of the real estate investment trust’s stock after purchasing an additional 510 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.10% of First Potomac Realty Trust worth $648,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in First Potomac Realty Trust by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 9,053,824 shares of the real estate investment trust’s stock valued at $93,073,000 after purchasing an additional 216,332 shares during the period. Virginia Retirement Systems ET AL increased its position in First Potomac Realty Trust by 42.1% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 96,800 shares of the real estate investment trust’s stock valued at $1,075,000 after purchasing an additional 28,700 shares during the period. Ranger Global Real Estate Advisors LLC purchased a new position in First Potomac Realty Trust during the 1st quarter valued at $2,596,000. Kassirer Asset Management Corp purchased a new position in First Potomac Realty Trust during the 2nd quarter valued at $667,000. Finally, KBC Group NV increased its position in First Potomac Realty Trust by 3.1% during the 1st quarter. KBC Group NV now owns 59,481 shares of the real estate investment trust’s stock valued at $611,000 after purchasing an additional 1,773 shares during the period. 93.19% of the stock is currently owned by institutional investors and hedge funds.

Shares of First Potomac Realty Trust (NYSE FPO) opened at 11.12 on Thursday. The company has a market cap of $653.19 million, a PE ratio of 15.95 and a beta of 0.80. The stock’s 50 day moving average is $11.12 and its 200-day moving average is $10.79. First Potomac Realty Trust has a one year low of $8.01 and a one year high of $11.46.

First Potomac Realty Trust (NYSE:FPO) last released its 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 return on equity of 8.96% and a net margin of 26.86%. The business had revenue of $35.40 million for the quarter, compared to analyst estimates of $34.94 million. During the same quarter last year, the firm posted $0.27 earnings per share. The business’s revenue was down 8.1% compared to the same quarter last year. Equities research analysts expect that First Potomac Realty Trust will post ($0.08) earnings per share for the current year.

FPO has been the topic of a number of research analyst reports. KeyCorp reissued a “buy” rating and set a $12.00 price objective on shares of First Potomac Realty Trust in a research report on Friday, August 25th. ValuEngine downgraded shares of First Potomac Realty Trust from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research raised shares of First Potomac Realty Trust from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Monday, July 3rd. SunTrust Banks, Inc. downgraded shares of First Potomac Realty Trust from a “buy” rating to a “hold” rating and set a $11.00 price objective on the stock. in a research report on Tuesday, June 13th. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of First Potomac Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $11.19.

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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.

Institutional Ownership by Quarter for First Potomac Realty Trust (NYSE:FPO)

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