First Potomac Realty Trust (NYSE:FPO) released its quarterly earnings data on Thursday. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The company earned $38.49 million during the quarter, compared to the consensus estimate of $39.08 million. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 EPS. First Potomac Realty Trust updated its FY16 guidance to $1.00-1.05 EPS.
Separately, BMO Capital Markets downgraded First Potomac Realty Trust from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $15.00 to $10.25 in a report on Thursday, June 30th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $10.85.
Shares of First Potomac Realty Trust (NYSE:FPO) traded up 2.12% during midday trading on Thursday, hitting $10.13. The company’s stock had a trading volume of 121,320 shares. The company has a 50-day moving average price of $9.55 and a 200 day moving average price of $9.07. First Potomac Realty Trust has a 1-year low of $7.90 and a 1-year high of $12.11. The company’s market cap is $588.47 million.
First Potomac Realty Trust is engaged in the ownership, management, development and redevelopment 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. It conducts its business through First Potomac Realty Investment Limited Partnership, the Company’s operating partnership (the Operating Partnership).
