Third Avenue Management LLC held its stake in shares of First Potomac Realty Trust (NYSE:FPO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,000 shares of the real estate investment trust’s stock at the close of the 2nd quarter. Third Avenue Management LLC owned about 0.14% of First Potomac Realty Trust worth $889,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FPO. Stifel Financial Corp boosted its holdings in shares of First Potomac Realty Trust by 11.8% in the 1st quarter. Stifel Financial Corp now owns 11,606 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 1,225 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of First Potomac Realty Trust during the first quarter worth about $147,000. Forsta AP Fonden acquired a new stake in shares of First Potomac Realty Trust during the second quarter worth about $178,000. Credit Agricole S A increased its position in shares of First Potomac Realty Trust by 48.7% during the first quarter. Credit Agricole S A now owns 18,780 shares of the real estate investment trust’s stock worth $193,000 after purchasing an additional 6,152 shares in the last quarter. Finally, QS Investors LLC acquired a new stake in shares of First Potomac Realty Trust during the second quarter worth about $208,000. 93.07% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on FPO shares. Stifel Nicolaus restated a “sell” rating and set a $11.15 price target on shares of First Potomac Realty Trust in a research note on Thursday, September 21st. KeyCorp reissued a “buy” rating and issued a $12.00 target price on shares of First Potomac Realty Trust in a report on Friday, August 25th. BidaskClub cut shares of First Potomac Realty Trust from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Zacks Investment Research lowered shares of First Potomac Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, SunTrust Banks, Inc. cut shares of First Potomac Realty Trust from a “buy” rating to a “hold” rating and set a $11.00 price target for the company. in a report on Tuesday, June 13th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. First Potomac Realty Trust currently has a consensus rating of “Hold” and an average price target of $11.19.

Shares of First Potomac Realty Trust (NYSE FPO) traded down 0.09% during midday trading on Monday, reaching $11.14. The company’s stock had a trading volume of 1,951,606 shares. First Potomac Realty Trust has a 52 week low of $8.01 and a 52 week high of $11.46. The stock has a 50-day moving average price of $11.12 and a 200 day moving average price of $10.82. The stock has a market capitalization of $654.36 million, a PE ratio of 15.98 and a beta of 0.80.

First Potomac Realty Trust (NYSE:FPO) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The company had revenue of $35.40 million for the quarter, compared to analyst estimates of $34.94 million. First Potomac Realty Trust had a net margin of 26.86% and a return on equity of 8.96%. First Potomac Realty Trust’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 EPS. Equities analysts forecast that First Potomac Realty Trust will post ($0.08) earnings per share for the current year.

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First Potomac Realty Trust 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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