Wells Fargo & Company MN Reduces Position in First Potomac Realty Trust (FPO)

Wells Fargo & Company MN trimmed its position in shares of First Potomac Realty Trust (NYSE:FPO) by 59.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 503,500 shares of the real estate investment trust’s stock after selling 751,734 shares during the quarter. Wells Fargo & Company MN owned approximately 0.86% of First Potomac Realty Trust worth $5,609,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stifel Financial Corp boosted its stake in First Potomac Realty Trust by 2.7% during the second quarter. Stifel Financial Corp now owns 11,916 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 310 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in First Potomac Realty Trust by 0.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 58,342 shares of the real estate investment trust’s stock worth $648,000 after buying an additional 510 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in First Potomac Realty Trust by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 48,217 shares of the real estate investment trust’s stock worth $536,000 after buying an additional 902 shares during the last quarter. Teachers Advisors LLC boosted its stake in First Potomac Realty Trust by 2.3% during the second quarter. Teachers Advisors LLC now owns 106,201 shares of the real estate investment trust’s stock worth $1,180,000 after buying an additional 2,338 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in First Potomac Realty Trust by 7.2% during the second quarter. Voya Investment Management LLC now owns 39,225 shares of the real estate investment trust’s stock worth $436,000 after buying an additional 2,625 shares during the last quarter. Hedge funds and other institutional investors own 93.07% of the company’s stock.

FPO has been the topic of a number of recent research reports. Stifel Nicolaus reissued a “sell” rating and set a $11.15 price objective on shares of First Potomac Realty Trust in a research note on Thursday, September 21st. KeyCorp set a $12.00 price objective on First Potomac Realty Trust and gave the stock a “buy” rating in a research note on Sunday, October 29th. Three analysts have rated the stock with a sell rating, two 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 target price of $11.43.

First Potomac Realty Trust (NYSE:FPO) opened at $11.14 on Wednesday. First Potomac Realty Trust has a 12 month low of $8.01 and a 12 month high of $11.46. The company has a market capitalization of $654.37, a price-to-earnings ratio of 16.14 and a beta of 0.80. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.38.

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About First Potomac Realty Trust

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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