First Potomac Realty Trust (FPO) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its position in shares of First Potomac Realty Trust (NYSE:FPO) by 0.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,328 shares of the real estate investment trust’s stock after selling 280 shares during the period. Alliancebernstein L.P. owned about 0.21% of First Potomac Realty Trust worth $1,247,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Stifel Financial Corp raised its stake in shares of First Potomac Realty Trust by 11.8% in the first quarter. Stifel Financial Corp now owns 11,606 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 1,225 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of First Potomac Realty Trust during the first quarter worth approximately $147,000. Karp Capital Management Corp acquired a new position in First Potomac Realty Trust during the first quarter valued at about $246,000. BNP Paribas Arbitrage SA raised its position in First Potomac Realty Trust by 0.8% in the first quarter. BNP Paribas Arbitrage SA now owns 25,067 shares of the real estate investment trust’s stock valued at $258,000 after buying an additional 187 shares in the last quarter. Finally, Macquarie Group Ltd. raised 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 valued at $286,000 after buying an additional 2,850 shares in the last quarter. 87.34% of the stock is owned by institutional investors and hedge funds.

Shares of First Potomac Realty Trust (NYSE:FPO) traded down 0.18% on Wednesday, hitting $11.11. The stock had a trading volume of 94,963 shares. The company has a 50 day moving average price of $11.14 and a 200-day moving average price of $10.68. First Potomac Realty Trust has a 12 month low of $8.01 and a 12 month high of $11.46. The stock has a market cap of $652.60 million, a PE ratio of 15.94 and a beta of 0.83.

First Potomac Realty Trust (NYSE:FPO) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. The company had revenue of $35.40 million during 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%. First Potomac Realty Trust’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. On average, equities research analysts anticipate that First Potomac Realty Trust will post ($0.08) earnings per share for the current year.

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Several equities analysts have recently issued reports on FPO shares. ValuEngine lowered First Potomac Realty Trust from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded First Potomac Realty Trust from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Monday, July 3rd. TheStreet upgraded First Potomac Realty Trust from a “d+” rating to a “c+” rating in a research note on Thursday, April 27th. SunTrust Banks, Inc. downgraded 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 report on Tuesday, June 13th. They noted that the move was a valuation call. Finally, BidaskClub downgraded First Potomac Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average 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.

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

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