Revenue Update on First Potomac Realty Trust(NYSE:FPO)

First Potomac Realty Trust(NYSE:FPO) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $38.49M. Analysts estimated a revenue of $39.08M. Earnings per share were $0.27. Analysts had estimated an EPS of $0.25.

In a different note, On Jun 30, 2016, BMO Capital said it Downgrades its rating on First Potomac Realty Trust. The shares have been rated ‘Market Perform’ by the firm.

First Potomac Realty Trust (FPO) shares turned negative on Thursdays trading session with the shares closing down -0.19 points or -1.92% at a volume of 1,87,665. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $9.9. The peak price level was also seen at $9.9 while the days lowest was $9.69. Finally the shares closed at $9.7. The 52-week high of the shares is $12.11 while the 52-week low is $7.9. According to the latest information available, the market cap of the company is $564 M.

First Potomac Realty Trust (First Potomac) is engaged in the ownership management development and redevelopment of office and business park properties in the greater Washington D.C. region. The Company’s portfolio consist a mix of single-tenant and multi-tenant office properties and business parks. The office properties are single-story and multi-story buildings that are primarily for office uses and business parks consists buildings with office features combined with some industrial property space. The Company’s properties are in Washington D.C. Maryland Northern Virginia and Southern Virginia. The Company conducts its business through First Potomac Realty Investment Limited Partnership the Company’s operating partnership (the Operating Partnership).

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