Prudential Financial Inc. Has $27.767 Million Stake in First Potomac Realty Trust (FPO)

Prudential Financial Inc. lowered its stake in shares of First Potomac Realty Trust (NYSE:FPO) by 39.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,700,944 shares of the real estate investment trust’s stock after selling 1,771,969 shares during the period. Prudential Financial Inc.’s holdings in First Potomac Realty Trust were worth $27,767,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its stake in shares of First Potomac Realty Trust by 0.8% in the first quarter. BNP Paribas Arbitrage SA now owns 25,067 shares of the real estate investment trust’s stock valued at $258,000 after buying an additional 187 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of 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 valued at $1,043,000 after buying an additional 441 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of First Potomac Realty Trust by 2.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 37,200 shares of the real estate investment trust’s stock valued at $340,000 after buying an additional 800 shares in the last quarter. KBC Group NV boosted its stake in shares of First Potomac Realty Trust by 3.1% in the first quarter. KBC Group NV now owns 59,481 shares of the real estate investment trust’s stock valued at $611,000 after buying an additional 1,773 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of 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 valued at $394,000 after buying an additional 2,064 shares in the last quarter. Institutional investors own 91.75% of the company’s stock.

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

First Potomac Realty Trust (NYSE:FPO) traded down 1.18% during mid-day trading on Thursday, hitting $10.85. The company had a trading volume of 84,407 shares. The firm has a market capitalization of $637.07 million, a PE ratio of 16.87 and a beta of 0.65. The company has a 50 day moving average of $10.77 and a 200 day moving average of $10.31. First Potomac Realty Trust has a 1-year low of $8.01 and a 1-year high of $11.31.

First Potomac Realty Trust (NYSE:FPO) last issued its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $37.80 million for the quarter, compared to the consensus estimate of $37.35 million. First Potomac Realty Trust had a negative return on equity of 8.28% and a negative net margin of 22.83%. The business’s quarterly revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. Analysts predict that First Potomac Realty Trust will post ($0.08) earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 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 3.69%. The ex-dividend date of this dividend was Thursday, May 4th. First Potomac Realty Trust’s dividend payout ratio (DPR) is presently -46.51%.

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Several brokerages recently weighed in on FPO. TheStreet upgraded First Potomac Realty Trust from a “d+” rating to a “c+” rating in a report on Thursday, April 27th. Evercore ISI raised First Potomac Realty Trust from a “hold” rating to an “outperform” rating in a research report on Friday, March 3rd. Stifel Nicolaus lowered First Potomac Realty Trust from a “hold” rating to a “sell” rating and set a $9.50 target price for the company. in a research report on Tuesday, May 2nd. SunTrust Banks, Inc. raised First Potomac Realty Trust from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Thursday, March 9th. Finally, Zacks Investment Research lowered First Potomac Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, March 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $10.55.

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.

12 Month Chart for NYSE:FPO

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