Last $11.86 USD
Change Today -0.20 / -1.66%
Volume 33.0K
FPO On Other Exchanges
Symbol
Exchange
New York
As of 11:30 AM 03/4/15 All times are local (Market data is delayed by at least 15 minutes).

first potomac realty trust (FPO) Snapshot

Open
$12.03
Previous Close
$12.06
Day High
$12.04
Day Low
$11.86
52 Week High
06/6/14 - $13.61
52 Week Low
10/2/14 - $11.53
Market Cap
697.4M
Average Volume 10 Days
139.3K
EPS TTM
$0.13
Shares Outstanding
58.8M
EX-Date
02/6/15
P/E TM
93.6x
Dividend
$0.60
Dividend Yield
5.00%
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: $575.0K
Co-Founder, Chief Investment Officer and Exec...
Total Annual Compensation: $330.0K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $360.0K
Compensation as of Fiscal Year 2013.

first potomac realty trust (FPO) Key Developments

First Potomac Realty Trust Seeks Acquisitions

First Potomac Realty Trust (NYSE:FPO) is looking for acquisitions. Doug Donatelli, Chief Executive Officer of First Potomac said "That's the way to think about it. Those properties are performing fairly well at the moment. So we don't have any particular concerns on some of the properties in the portfolio. They are sort of the -- some of the higher quality flex properties that we still have in the portfolio as well as a couple of industrial buildings that did not sell industrial properties that didn't sell as a part of our industrial property sale. We'll be opportunistic in dispositions of individual properties and try to marry those sales up with acquisitions."

First Potomac Realty Trust Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year of Fiscal 2015

First Potomac Realty Trust announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company announced total revenues of $42,928,000 compared to $37,517,000 for the same period a year ago. Operating income was $4,333,000 compared to $3,618,000 for the same period a year ago. Loss from continuing operations was $402,000 compared to $2,421,000 for the same period a year ago. Net income was $103,000 compared to net loss of $3,741,000 for the same period a year ago. Net income attributable to First Potomac Realty Trust was $231,000 compared to net loss attributable to First Potomac Realty Trust of $3,453,000 for the same period a year ago. Net loss attributable to common shareholders was $2,869,000 or $0.05 per basic and diluted share compared to $6,553,000 or $0.11 per basic and diluted share for the same period a year ago. Funds from operations available to common shareholders were $16,410,000 compared to $12,323,000 for the same period a year ago. Funds from operations (FFO) were $19,510,000 compared to $15,423,000 for the same period a year ago. Core FFO was $16,424,000 compared to $13,950,000 for the same period a year ago. FFO available to common shareholders per share basic and diluted were $0.27 compared to $0.20 for the same period a year ago. Core FFO per share diluted was $0.27 compared to $0.23 for the same period a year ago. For the full year, the company announced total revenues of $161,652,000 compared to $148,815,000 for the same period a year ago. Operating income was $11,451,000 compared to $17,526,000 for the same period a year ago. Income from continuing operations was $15,559,000 compared to loss from continuing operations of $10,761,000 for the same period a year ago. Net income was $17,043,000 compared to $10,981,000 for the same period a year ago. Net income attributable to First Potomac Realty Trust was $16,844,000 compared to $11,074,000 for the same period a year ago. Net income attributable to common shareholders was $4,444,000 or $0.07 per basic and diluted share compared to net loss attributable to the common shareholders of $1,326,000 or $0.03 per basic and diluted share for the same period a year ago. Funds from operations available to common shareholders were $55,956,000 compared to $51,993,000 for the same period a year ago. Funds from operations (FFO) were $68,356,000 compared to $64,393,000 for the same period a year ago. Core FFO was $59,682,000 compared to $59,207,000 for the same period a year ago. FFO available to common shareholders per share basic and diluted were $0.92 compared to $0.90 for the same period a year ago. Core FFO per share diluted was $0.98 compared to $1.03 for the same period a year ago. The company provided earnings guidance for the full year of fiscal 2015. The company issued its full-year 2015 Core FFO guidance of $0.92 to $0.98 per diluted share. The company expects to report portfolio NOI between $105,500,000 and $108,500,000. FFO from unconsolidated joint ventures expected between $5,000,000 and $5,500,000 and interest expense expected between $27,000,000 and $29,000,000. Same property NOI growth - accrual basis is expected between 1.0% and 2.5%. Net loss attributable to common shareholders per diluted share is expected between $0.12 and $0.09 and core FFO per diluted share is expected between $0.92 and $0.98.

First Potomac Realty Trust Signs New Leases Totaling 27,283 Square Feet in NW Washington, D.C

First Potomac Realty Trust announced five new lease transactions totaling 27,283 square feet at two newly redeveloped properties, 440 First Street, NW and 1211 Connecticut Avenue, NW. 440 First Street, NW is now 57.8% leased with the addition of the following two tenants: Lewis-Burke Associates, LLC, a full-service government relations firm, signed a lease totaling 10,670 square feet. They will be relocating from the East End to Capitol Hill. William Meyer and Jim Rayborn from The Meyer Group represented Lewis-Burke Associates, LLC. The Appraisal Institute signed a lease totaling 1,412 square feet. William Quinby and David Cornbrooks of Savills Studley represented the Appraisal Institute. 1211 Connecticut Avenue, NW is now 98% leased with the addition of the following three tenants: RepEquity signed a lease totaling 8,268 square feet. Greg Lubar from JLL represented RepEquity. Public Campaign signed a lease totaling 6,033 square feet. Elizabeth Cooper and Kayma Liburd from JLL represented Public Campaign. International Student Conferences signed a lease totaling 900 square feet. Fletcher Gill and Collin Brown of The Genau Group represented ISC.

 

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Industry Analysis

FPO

Industry Average

Valuation FPO Industry Range
Price/Earnings 100.0x
Price/Sales 4.3x
Price/Book 1.3x
Price/Cash Flow 9.0x
TEV/Sales NM Not Meaningful
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