First Potomac Realty Trust (NYSE:FPO) has been assigned a $12.00 price target by KeyCorp in a research note issued on Sunday. The firm currently has a “buy” rating on the real estate investment trust’s stock. KeyCorp’s price target suggests a potential upside of 7.62% from the stock’s previous close.
Several other research analysts also recently commented on FPO. BidaskClub downgraded First Potomac Realty Trust from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Stifel Nicolaus restated a “sell” rating and set a $11.15 price objective on shares of First Potomac Realty Trust in a report on Thursday, September 21st. Finally, Zacks Investment Research downgraded First Potomac Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $11.19.
First Potomac Realty Trust (NYSE:FPO) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.02. First Potomac Realty Trust had a negative return on equity of 2.35% and a negative net margin of 7.99%. The firm had revenue of $35.40 million for the quarter, compared to the consensus estimate of $34.94 million. During the same period in the prior year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was down 8.1% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mizuho Securities USA LLC bought a new stake in First Potomac Realty Trust during the 3rd quarter valued at $4,667,000. Longfellow Investment Management Co. LLC bought a new stake in First Potomac Realty Trust during the 3rd quarter valued at $3,652,000. Koch Industries Inc. bought a new stake in First Potomac Realty Trust during the 2nd quarter valued at $122,000. Susquehanna International Group LLP bought a new stake in First Potomac Realty Trust during the 2nd quarter valued at $554,000. Finally, The Manufacturers Life Insurance Company boosted its position in First Potomac Realty Trust by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,217 shares of the real estate investment trust’s stock valued at $536,000 after acquiring an additional 902 shares in the last quarter. 93.07% of the stock is currently owned by institutional investors and hedge funds.
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.
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