First Potomac Receives a Hold from Wells Fargo

By Carrie Williams

Wells Fargo analyst Blaine Heck maintained a Hold rating on First Potomac (NYSE: FPO) yesterday and set a price target of $10. The company’s shares closed yesterday at $9.83.

First Potomac has an analyst consensus of Moderate Buy.

Based on First Potomac’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $39.65 million and quarterly net profit of $2.08 million. In comparison, last year the company earned revenue of $41.91 million and had a net profit of $3.89 million.

Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. Most recently, in October 2014, Richard Chess, an Insider at FPO sold 7,700 shares for a total of $94,017.

First Potomac Realty Trust owns, manages, develops, redevelops office and industrial properties in the greater Washington region. It operates through the following geographical segments: Washington, D.C., Maryland, Northern Virginia and Southern Virginia reporting segments. The company was founded by Douglas J. Donatelli and Nicholas R. Smith in December 1997 and is headquartered in Bethesda, MD.