FY2017 EPS Estimates for First Potomac Realty Trust Decreased by Analyst (FPO)
First Potomac Realty Trust (NYSE:FPO) – Investment analysts at KeyCorp decreased their FY2017 earnings per share (EPS) estimates for shares of First Potomac Realty Trust in a report issued on Monday. KeyCorp analyst C. Mailman now expects that the firm will post earnings per share of $0.83 for the year, down from their previous forecast of $0.84.
First Potomac Realty Trust (NYSE:FPO) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The business had revenue of $40.20 million for the quarter, compared to the consensus estimate of $39.54 million. First Potomac Realty Trust had a negative net margin of 22.83% and a negative return on equity of 8.28%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS.
Several other equities research analysts also recently issued reports on FPO. Zacks Investment Research downgraded First Potomac Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. SunTrust Banks Inc. raised First Potomac Realty Trust from a “neutral” rating to a “buy” rating and set a $11.00 price target for the company in a report on Friday, September 16th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $9.81.
First Potomac Realty Trust (NYSE:FPO) opened at 9.83 on Tuesday. First Potomac Realty Trust has a 12 month low of $7.90 and a 12 month high of $11.72. The company’s 50-day moving average is $8.96 and its 200 day moving average is $9.33. The firm’s market cap is $573.23 million.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 8th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Friday, November 4th. First Potomac Realty Trust’s dividend payout ratio is currently -46.51%.
Large investors have recently bought and sold shares of the company. Mizuho Trust & Banking Co. Ltd. increased its stake in 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 in the last quarter. SG Americas Securities LLC bought a new position in shares of First Potomac Realty Trust during the third quarter worth approximately $107,000. 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. Aperio Group LLC bought a new position in shares of First Potomac Realty Trust during the third quarter worth approximately $127,000. Finally, KCG Holdings Inc. bought a new position in shares of First Potomac Realty Trust during the second quarter worth approximately $134,000. 91.59% of the stock is owned by institutional investors.
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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