Bank of New York Mellon Corp Sells 22,742 Shares of First Potomac Realty Trust (FPO)

Bank of New York Mellon Corp lowered its position in First Potomac Realty Trust (NYSE:FPO) by 4.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 456,516 shares of the real estate investment trust’s stock after selling 22,742 shares during the period. Bank of New York Mellon Corp’s holdings in First Potomac Realty Trust were worth $4,693,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. IndexIQ Advisors LLC boosted its position in First Potomac Realty Trust by 12.7% in the first quarter. IndexIQ Advisors LLC now owns 61,677 shares of the real estate investment trust’s stock worth $634,000 after buying an additional 6,960 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in First Potomac Realty Trust by 5.7% in the first quarter. Great West Life Assurance Co. Can now owns 38,294 shares of the real estate investment trust’s stock worth $394,000 after buying an additional 2,064 shares in the last quarter. Wells Fargo & Company MN boosted its position in First Potomac Realty Trust by 7.7% in the first quarter. Wells Fargo & Company MN now owns 1,217,734 shares of the real estate investment trust’s stock worth $12,517,000 after buying an additional 87,526 shares in the last quarter. Macquarie Group Ltd. boosted its position in First Potomac Realty Trust by 12.3% in the fourth quarter. Macquarie Group Ltd. now owns 26,050 shares of the real estate investment trust’s stock worth $286,000 after buying an additional 2,850 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in First Potomac Realty Trust by 0.5% in the fourth quarter. Teachers Advisors LLC now owns 95,066 shares of the real estate investment trust’s stock worth $1,043,000 after buying an additional 441 shares in the last quarter. Institutional investors and hedge funds own 91.33% of the company’s stock.

First Potomac Realty Trust (NYSE FPO) opened at 11.17 on Monday. The company’s 50-day moving average price is $10.96 and its 200 day moving average price is $10.57. First Potomac Realty Trust has a 1-year low of $8.01 and a 1-year high of $11.46. The firm has a market cap of $655.86 million, a price-to-earnings ratio of 17.37 and a beta of 0.83.

First Potomac Realty Trust (NYSE:FPO) last posted its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. First Potomac Realty Trust had a return on equity of 9.31% and a net margin of 27.04%. The firm had revenue of $37.80 million during the quarter, compared to the consensus estimate of $37.35 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. On average, equities analysts expect that First Potomac Realty Trust will post ($0.08) earnings per share for the current fiscal year.

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A number of research firms have recently weighed in on FPO. Evercore ISI cut First Potomac Realty Trust from an “in-line” rating to an “underperform” rating and set a $11.00 price target for the company. in a report on Monday, June 12th. Stifel Nicolaus cut First Potomac Realty Trust from a “hold” rating to a “sell” rating and set a $9.50 price target for the company. in a report on Tuesday, May 2nd. Zacks Investment Research upgraded First Potomac Realty Trust from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Monday, July 3rd. ValuEngine lowered First Potomac Realty Trust from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, SunTrust Banks, Inc. lowered First Potomac Realty Trust from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a research note on Tuesday, June 13th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. First Potomac Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $11.03.

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.

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

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