First Potomac Realty Trust (FPO) was Upgraded by Stifel to ” Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 9.50 from a previous price target of $9 . Earlier the firm had a rating of “Sell ” on the company shares. Stifel advised their investors in a research report released on Sep 29, 2016.
Many Wall Street Analysts have commented on First Potomac Realty Trust. First Potomac Realty Trust was Upgraded by SunTrust to ” Buy” on Sep 16, 2016. 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 .
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.
First Potomac Realty Trust closed down -0.2 points or -2.13% at $9.2 with 1,52,779 shares getting traded on Tuesday. Post opening the session at $9.43, the shares hit an intraday low of $9.15 and an intraday high of $9.43 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
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).