First Potomac Realty Trust (NYSE:FPO) Downgraded to “Hold” at Zacks Investment Research
First Potomac Realty Trust (NYSE:FPO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “First Potomac Realty Trust is a self-administered, self-managed real estate investment trust that acquires, operates and develops industrial and flex properties in Maryland, Virginia and the Washington, D.C. metropolitan area. “
Several other research analysts have also recently commented on FPO. ValuEngine cut shares of First Potomac Realty Trust from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. TheStreet upgraded shares of First Potomac Realty Trust from a “d+” rating to a “c+” rating in a report on Thursday, April 27th. SunTrust Banks, Inc. lowered shares of First Potomac Realty Trust from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a research report on Tuesday, June 13th. They noted that the move was a valuation call. BidaskClub lowered shares of First Potomac Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Stifel Nicolaus reaffirmed a “sell” rating and set a $11.15 price target (up from $9.50) on shares of First Potomac Realty Trust in a research report on Thursday, June 29th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $11.03.
Shares of First Potomac Realty Trust (NYSE:FPO) remained flat at $11.13 during mid-day trading on Wednesday. The company had a trading volume of 825,378 shares. The stock has a 50 day moving average price of $11.14 and a 200-day moving average price of $10.66. The firm has a market cap of $653.78 million, a PE ratio of 15.97 and a beta of 0.83. 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 issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. The firm had revenue of $35.40 million during the quarter, compared to analysts’ expectations of $34.94 million. First Potomac Realty Trust had a net margin of 26.86% and a return on equity of 8.96%. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. On average, analysts expect that First Potomac Realty Trust will post ($0.08) EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp raised its position in First Potomac Realty Trust by 11.8% in the first quarter. Stifel Financial Corp now owns 11,606 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 1,225 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in First Potomac Realty Trust during the first quarter worth approximately $147,000. Forsta AP Fonden acquired a new position in First Potomac Realty Trust during the second quarter worth approximately $178,000. Credit Agricole S A raised its position in First Potomac Realty Trust by 48.7% in the first quarter. Credit Agricole S A now owns 18,780 shares of the real estate investment trust’s stock worth $193,000 after buying an additional 6,152 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in First Potomac Realty Trust during the first quarter worth approximately $246,000. 91.37% of the stock is currently owned by institutional investors and hedge funds.
About First Potomac Realty Trust
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.
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