SunTrust Banks Inc. upgraded shares of First Potomac Realty Trust (NYSE:FPO) from a neutral rating to a buy rating in a report issued on Friday. The firm currently has $11.00 price objective on the stock. The analysts noted that the move was a valuation call.

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

Several other equities research analysts have also recently weighed in on FPO. BMO Capital Markets cut First Potomac Realty Trust from an outperform rating to a market perform rating and dropped their price objective for the stock from $15.00 to $10.25 in a report on Thursday, June 30th. Zacks Investment Research cut First Potomac Realty Trust from a hold rating to a sell rating in a report on Wednesday, August 3rd. Finally, Stifel Nicolaus increased their price objective on First Potomac Realty Trust from $8.00 to $9.00 and gave the stock a sell rating in a report on Monday, August 1st. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $10.45.

Shares of First Potomac Realty Trust (NYSE:FPO) opened at 9.15 on Friday. The company’s 50-day moving average price is $9.70 and its 200 day moving average price is $9.24. The company’s market cap is $531.88 million. First Potomac Realty Trust has a one year low of $7.90 and a one year high of $12.11.

First Potomac Realty Trust (NYSE:FPO) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. First Potomac Realty Trust had a negative return on equity of 7.60% and a negative net margin of 21.37%. The business had revenue of $38.49 million for the quarter, compared to analyst estimates of $39.08 million. During the same period last year, the company earned $0.25 EPS. First Potomac Realty Trust’s revenue for the quarter was down 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that First Potomac Realty Trust will post $1.00 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mizuho Trust & Banking Co. Ltd. boosted its position in shares of First Potomac Realty Trust by 5.1% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 11,226 shares of the company’s stock worth $103,000 after buying an additional 541 shares during the last quarter. Quantitative Systematic Strategies LLC boosted its position in shares of First Potomac Realty Trust by 18.2% in the second quarter. Quantitative Systematic Strategies LLC now owns 12,299 shares of the company’s stock worth $113,000 after buying an additional 1,892 shares during the last quarter. KCG Holdings Inc. bought a new position in shares of First Potomac Realty Trust during the second quarter worth about $134,000. Macquarie Group Ltd. boosted its position in shares of First Potomac Realty Trust by 4.9% in the second quarter. Macquarie Group Ltd. now owns 19,875 shares of the company’s stock worth $182,000 after buying an additional 925 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of First Potomac Realty Trust during the second quarter worth about $196,000. Institutional investors own 92.12% of the company’s stock.

About First Potomac Realty Trust

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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