Bank of New York Mellon Corp decreased its position in shares of First Potomac Realty Trust (NYSE:FPO) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 456,516 shares of the real estate investment trust’s stock after selling 22,742 shares during the period. Bank of New York Mellon Corp owned 0.78% of First Potomac Realty Trust worth $4,693,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FPO. Macquarie Group Ltd. increased its stake in First Potomac Realty Trust by 12.3% in the fourth quarter. Macquarie Group Ltd. now owns 26,050 shares of the real estate investment trust’s stock worth $286,000 after buying an additional 2,850 shares during the last quarter. A.R.T. Advisors LLC purchased a new stake in First Potomac Realty Trust during the fourth quarter worth $300,000. Great West Life Assurance Co. Can increased its stake in First Potomac Realty Trust by 5.7% in the first quarter. Great West Life Assurance Co. Can now owns 38,294 shares of the real estate investment trust’s stock worth $394,000 after buying an additional 2,064 shares during the last quarter. IndexIQ Advisors LLC increased its stake in First Potomac Realty Trust by 12.7% in the first quarter. IndexIQ Advisors LLC now owns 61,677 shares of the real estate investment trust’s stock worth $634,000 after buying an additional 6,960 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake in First Potomac Realty Trust by 0.5% in the fourth quarter. Teachers Advisors LLC now owns 95,066 shares of the real estate investment trust’s stock worth $1,043,000 after buying an additional 441 shares during the last quarter. Institutional investors and hedge funds own 91.11% of the company’s stock.

Shares of First Potomac Realty Trust (FPO) remained flat at $11.14 on Friday. 431,236 shares of the stock traded hands. The firm has a market capitalization of $654.36 million, a PE ratio of 15.98 and a beta of 0.83. First Potomac Realty Trust has a 1-year low of $8.01 and a 1-year high of $11.46. The stock has a 50 day moving average price of $11.13 and a 200 day moving average price of $10.65.

First Potomac Realty Trust (NYSE:FPO) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. The firm had revenue of $35.40 million for 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 was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 EPS. Analysts predict that First Potomac Realty Trust will post ($0.08) EPS for the current year.

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A number of research firms have weighed in on FPO. Zacks Investment Research upgraded First Potomac Realty Trust from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Monday, July 3rd. Evercore ISI downgraded First Potomac Realty Trust from an “in-line” rating to an “underperform” rating and set a $11.00 price target on the stock. in a research report on Monday, June 12th. BidaskClub cut First Potomac Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. ValuEngine cut First Potomac Realty Trust from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, SunTrust Banks, Inc. cut First Potomac Realty Trust from a “buy” rating to a “hold” rating and set a $11.00 price objective on the stock. in a research note on Tuesday, June 13th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $11.03.

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.

Institutional Ownership by Quarter for First Potomac Realty Trust (NYSE:FPO)

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