Bank of New York Mellon Corp grew its position in First Potomac Realty Trust (NYSE:FPO) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 485,438 shares of the real estate investment trust’s stock after acquiring an additional 14,798 shares during the quarter. Bank of New York Mellon Corp owned about 0.83% of First Potomac Realty Trust worth $5,408,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Gabelli Funds LLC purchased a new stake in shares of First Potomac Realty Trust in the third quarter valued at $652,000. Mizuho Securities USA LLC purchased a new position in First Potomac Realty Trust in the 3rd quarter worth about $4,667,000. Longfellow Investment Management Co. LLC purchased a new position in First Potomac Realty Trust in the 3rd quarter worth about $3,652,000. Koch Industries Inc. purchased a new position in First Potomac Realty Trust in the 2nd quarter worth about $122,000. Finally, Susquehanna International Group LLP purchased a new position in First Potomac Realty Trust in the 2nd quarter worth about $554,000. 93.07% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently commented on the stock. KeyCorp set a $12.00 price target on shares of First Potomac Realty Trust and gave the stock a “buy” rating in a research note on Sunday, October 29th. Stifel Nicolaus reaffirmed a “sell” rating and issued a $11.15 price target on shares of First Potomac Realty Trust in a research note on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $11.43.
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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.
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