Schwab Charles Investment Management Inc. Has $5.80 Million Position in First Potomac Realty Trust (FPO)

Schwab Charles Investment Management Inc. boosted its stake in shares of First Potomac Realty Trust (NYSE:FPO) by 8.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 522,032 shares of the real estate investment trust’s stock after purchasing an additional 39,699 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.90% of First Potomac Realty Trust worth $5,800,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its position in First Potomac Realty Trust by 772.3% during the 2nd quarter. Bessemer Group Inc. now owns 88,100 shares of the real estate investment trust’s stock valued at $979,000 after purchasing an additional 78,000 shares during the period. Kassirer Asset Management Corp acquired a new position in First Potomac Realty Trust during the 2nd quarter valued at approximately $667,000. Bowling Portfolio Management LLC acquired a new position in First Potomac Realty Trust during the 2nd quarter valued at approximately $298,000. Forsta AP Fonden acquired a new position in First Potomac Realty Trust during the 2nd quarter valued at approximately $178,000. Finally, Aperio Group LLC boosted its position in First Potomac Realty Trust by 27.4% during the 2nd quarter. Aperio Group LLC now owns 30,473 shares of the real estate investment trust’s stock valued at $339,000 after purchasing an additional 6,556 shares during the period. Institutional investors and hedge funds own 93.07% of the company’s stock.

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A number of research firms recently issued reports on FPO. Zacks Investment Research upgraded First Potomac Realty Trust from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Monday, July 3rd. BidaskClub lowered First Potomac Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Stifel Nicolaus restated a “sell” rating and set a $11.15 price objective on shares of First Potomac Realty Trust in a research report on Thursday, September 21st. Finally, KeyCorp restated a “buy” rating and set a $12.00 price objective on shares of First Potomac Realty Trust in a research report on Friday, August 25th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. First Potomac Realty Trust has an average rating of “Hold” and an average target price of $11.19.

First Potomac Realty Trust (NYSE:FPO) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.02. First Potomac Realty Trust had a return on equity of 8.96% and a net margin of 26.86%. The business had revenue of $35.40 million during the quarter, compared to analysts’ expectations of $34.94 million. During the same period in the prior year, the firm posted $0.27 EPS. First Potomac Realty Trust’s quarterly revenue was down 8.1% compared to the same quarter last year.

First Potomac Realty Trust 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.

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

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