Axar Capital Management adds First Potomac Realty Trust (FPO) to its portfolio

First Potomac Realty Trust (FPO) : Axar Capital Management added new position in First Potomac Realty Trust during the most recent quarter end. The investment management firm now holds 505,765 shares of First Potomac Realty Trust which is valued at $4,986,843 , the company said in a statement filed on Aug 12, 2016 with the SEC.First Potomac Realty Trust makes up approximately 17.89% of Axar Capital Management’s portfolio.

Other Hedge Funds, Including , Cornercap Investment Counsel Inc added FPO to its portfolio by purchasing 29,535 company shares during the most recent quarter which is valued at $291,215. First Potomac Realty Trust makes up approx 0.05% of Cornercap Investment Counsel Inc’s portfolio. Bessemer Group Inc sold out all of its stake in FPO during the most recent quarter. The investment firm sold 209 shares of FPO which is valued $2,061. Bailard sold out all of its stake in FPO during the most recent quarter. The investment firm sold 30,000 shares of FPO which is valued $295,200. First New York Securities Ny added FPO to its portfolio by purchasing 5,695 company shares during the most recent quarter which is valued at $56,494. First Potomac Realty Trust makes up approx 0.06% of First New York Securities Ny’s portfolio.

First Potomac Realty Trust closed down -0.02 points or -0.20% at $9.86 with 82,342 shares getting traded on Monday. Post opening the session at $9.92, the shares hit an intraday low of $9.85 and an intraday high of $10.03 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, First Potomac Realty Trust reported $0.27 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.25. The company had revenue of $38.49 million for the quarter, compared to analysts expectations of $39.29 million. The company’s revenue was down -10.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.25 EPS.

Many Wall Street Analysts have commented on First Potomac Realty Trust. Company shares were Reiterated by Stifel on Aug 1, 2016 to “Sell”, Firm has raised the Price Target to $ 9 from a previous price target of $8 .

First Potomac Realty Trust (First Potomac) is engaged in the ownership management development and redevelopment of office and business park properties in the greater Washington D.C. region. The Company’s portfolio consist a mix of single-tenant and multi-tenant office properties and business parks. The office properties are single-story and multi-story buildings that are primarily for office uses and business parks consists buildings with office features combined with some industrial property space. The Company’s properties are in Washington D.C. Maryland Northern Virginia and Southern Virginia. The Company conducts its business through First Potomac Realty Investment Limited Partnership the Company’s operating partnership (the Operating Partnership).

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