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Last $11.72 USD
Change Today +0.37 / 3.26%
Volume 61.7K
As of 9:53 AM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).

first potomac realty trust (FPO) Snapshot

Open
$11.58
Previous Close
$11.35
Day High
$11.89
Day Low
$11.58
52 Week High
09/8/14 - $13.32
52 Week Low
06/5/15 - $9.88
Market Cap
687.5M
Average Volume 10 Days
240.3K
EPS TTM
$-0.18
Shares Outstanding
58.8M
EX-Date
08/6/15
P/E TM
--
Dividend
$0.60
Dividend Yield
5.13%
Current Stock Chart for FIRST POTOMAC REALTY TRUST (FPO)

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first potomac realty trust (FPO) Details

First Potomac Realty Trust, a real estate investment trust (REIT), engages in the ownership, development, redevelopment, and operation of industrial properties and business parks in the Washington, D.C. metropolitan area, and other markets in Maryland and Virginia. As of March 31, 2008, it owned approximately 11.4 million square feet. The company qualifies as a REIT under the Internal Revenue Code. As a REIT, it would not be subject to federal tax to the extent that it distributes at least 90% of its taxable income to its shareholders. First Potomac Realty Trust was founded in 1997 and is based in Bethesda, Maryland.

170 Employees
Last Reported Date: 02/20/15
Founded in 1997

first potomac realty trust (FPO) Top Compensated Officers

Co-Founder, Chairman, Chief Executive Officer...
Total Annual Compensation: $600.0K
Co-Founder, Chief Investment Officer and Exec...
Total Annual Compensation: $339.9K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $370.8K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $354.2K
Executive Vice President, General Counsel and...
Total Annual Compensation: $163.3K
Compensation as of Fiscal Year 2014.

first potomac realty trust (FPO) Key Developments

First Potomac Realty Trust Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reaffirms Earnings Guidance for the Full Year 2015

First Potomac Realty Trust reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues of $43,039,000 against $31,619,000 a year ago. Operating income was $5,771,000 against operating loss of $272,000 a year ago. Income from continuing operations was $476,000 or $0.04 loss per basic and diluted share against income from continuing operations of $16,796,000 or $0.22 income per basic and diluted share a year ago. Net loss attributable to the common shareholders was $2,510,000 or 0.04 per common share against net income attributable to the common shareholders of $14,582,000 or 0.25 per common share a year ago. FFO was $18,327,000 or $0.25 per diluted share, compared with $16,441,000 or $0.22 per diluted share, for the second quarter of 2014. Core FFO was $15,227,000 or $0.25 per diluted share, compared with $14,452,000 or $0.24 per diluted share, for the second quarter of 2014. FFO available to common shareholders and Core FFO increased for the three and six months ended June 30, 2015 compared with the same periods in 2014 due to an increase in same-property net operating income, primarily as a result of higher occupancy in portfolio. For the six months ended June 30, 2015, the company reported total revenues of $86,888,000 against $78,671,000 a year ago. Operating income was $9,603,000 against $3,349,000 a year ago. Income from continuing operations was $1,575,000 or $0.08 loss per basic and diluted share against income from continuing operations of $16,211,000 or $0.0.17 per basic and diluted share a year ago. Net loss attributable to the common shareholders was $5,005,000 or $0.09 per common share against net income attributable to the common shareholders of $10,234,000 $0.0.17 per common share a year ago. FFO was $36,530,000 or $0.50 per diluted share, compared with $31,792,000 or $0.42 per diluted share, for the first six months of 2014. Core FFO was $29,652,000 or $0.49 per diluted share, compared with $27,816,000 or $0.46 per diluted share, for the first half of 2014. The company is raising the low end of full-year 2015 Core FFO guidance to $0.93, bringing the updated guidance range to $0.93 to $0.98 per diluted share. Portfolio NOI expected to be in the range of $106,500 to $108,500. Interest expense expected to be in the range of $27,000 to $29,000. Net loss attributable to common shareholders per diluted share expected to be in the range of $0.10 to $0.07.

First Potomac Realty Trust Declares Dividend on Common and Preferred Shares, Payable on August 17, 2015

On July 28, 2015, First Potomac Realty Trust declared a dividend of $0.15 per common share, equating to an annualized dividend of $0.60 per common share. The dividend will be paid on August 17, 2015 to common shareholders of record as of August 10, 2015. The company also declared a dividend of $0.484375 per share on Series A Preferred Shares. The dividend will be paid on August 17, 2015 to preferred shareholders of record as of August 10, 2015.

First Potomac Realty Trust Signs over 19,000 Square Feet of New Leases in Washington, D.C

First Potomac Realty Trust announced four new lease transactions totaling 19,073 square feet at 1401 K Street, NW and 440 First Street, NW in downtown Washington, D.C. 440 First Street, NW is now 66% leased with the addition of the following three tenants: Natural Products Association dedicated to the natural products industry, signed a lease totaling 4,947 square feet. Matt Coursen and Steve Burman of JLL represented the Natural Products Association. Institute for Science and International Security, a non-profit, non-partisan institution dedicated to informing the public about science and policy affecting international security, signed a lease totaling 1,145 square feet. Michael Boland of Boland Real Estate Services represented the Institute for Science and International Security. Dell USA, a subsidiary of Dell Inc., a global information technology company, signed a lease totaling 3,396 square feet. Mike Shipley and Rob Faktorow of CBRE represented Dell USA. 1401 K Street, NW remains 83% leased with the following tenant: Center for Democracy & Technology, a non-profit organization working to preserve the user-controlled nature of the internet and champion freedom of expression, signed a full-floor lease, with a private terrace, totaling 9,585 square feet. Ben Plaisted and Greg Scheipers of Savills Studley represented the Center for Democracy & Technology.

 

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Industry Analysis

FPO

Industry Average

Valuation FPO Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 3.9x
Price/Book 1.3x
Price/Cash Flow 9.9x
TEV/Sales NM Not Meaningful
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