First Potomac Realty Trust (FPO) Position Raised by Martingale Asset Management L P

Martingale Asset Management L P boosted its position in shares of First Potomac Realty Trust (NYSE:FPO) by 141.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,799 shares of the real estate investment trust’s stock after purchasing an additional 207,408 shares during the period. Martingale Asset Management L P owned approximately 0.60% of First Potomac Realty Trust worth $3,931,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. AXA grew its holdings in First Potomac Realty Trust by 42.7% during the 2nd quarter. AXA now owns 154,304 shares of the real estate investment trust’s stock valued at $1,714,000 after purchasing an additional 46,148 shares in the last quarter. Wells Fargo & Company MN grew its holdings in First Potomac Realty Trust by 3.1% during the 2nd quarter. Wells Fargo & Company MN now owns 1,255,234 shares of the real estate investment trust’s stock valued at $13,946,000 after purchasing an additional 37,500 shares in the last quarter. Kennedy Capital Management Inc. acquired a new stake in First Potomac Realty Trust during the 2nd quarter valued at $4,296,000. Vivaldi Capital Management LLC acquired a new stake in First Potomac Realty Trust during the 2nd quarter valued at $64,416,000. Finally, Vivaldi Asset Management LLC acquired a new stake in First Potomac Realty Trust during the 2nd quarter valued at $671,000. 93.19% of the stock is owned by institutional investors and hedge funds.

First Potomac Realty Trust (FPO) opened at 11.14 on Friday. First Potomac Realty Trust has a one year low of $8.01 and a one year high of $11.46. The firm has a market capitalization of $654.36 million, a price-to-earnings ratio of 15.98 and a beta of 0.80. The firm’s 50-day moving average is $11.12 and its 200 day moving average is $10.80.

First Potomac Realty Trust (NYSE:FPO) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The firm had revenue of $35.40 million for the quarter, compared to analyst estimates 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 for the quarter was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 EPS. Analysts forecast that First Potomac Realty Trust will post ($0.08) EPS for the current fiscal year.

FPO has been the subject of several recent analyst reports. KeyCorp reissued a “buy” rating and set a $12.00 price objective on shares of First Potomac Realty Trust in a report on Friday, August 25th. ValuEngine lowered shares of First Potomac Realty Trust from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research raised shares of First Potomac Realty Trust from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Monday, July 3rd. SunTrust Banks, Inc. lowered shares of First Potomac Realty Trust from a “buy” rating to a “hold” rating and set a $11.00 price objective for the company. in a report on Tuesday, June 13th. They noted that the move was a valuation call. Finally, BidaskClub lowered shares of First Potomac Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $11.19.

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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.

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

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