First Potomac Realty Trust (FPO) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.27 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.25. The company posted revenue of $38.49 million in the period, 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.
First Potomac Realty Trust opened for trading at $9.93 and hit $10.17 on the upside on Thursday, eventually ending the session at $10.13, with a gain of 2.12% or 0.21 points. The heightened volatility saw the trading volume jump to 1,18,322 shares. Company has a market cap of $588 M.
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).