Last $13.36 USD
Change Today +0.06 / 0.45%
Volume 134.3K
FPO On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 07/28/14 All times are local (Market data is delayed by at least 15 minutes).

first potomac realty trust (FPO) Snapshot

Open
$13.37
Previous Close
$13.30
Day High
$13.42
Day Low
$13.28
52 Week High
07/29/13 - $14.45
52 Week Low
11/13/13 - $10.96
Market Cap
785.7M
Average Volume 10 Days
112.1K
EPS TTM
$0.10
Shares Outstanding
58.8M
EX-Date
08/4/14
P/E TM
130.6x
Dividend
$0.60
Dividend Yield
4.49%
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.

189 Employees
Last Reported Date: 02/28/14
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
Chief Accounting Officer and Senior Vice Pres...
Total Annual Compensation: $235.0K
Senior Vice President of Leasing
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

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, 2014; Reports Impairment Charge for the Second Quarter of 2014; Provides Earnings Guidance for the Full Year of 2014

First Potomac Realty Trust reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, total revenues were $41.190 million against $38.832 million a year ago. Operating income was $0.54 million against $6.157 million a year ago. Income from continuing operations was $17.051 million or $0.23 per basic and diluted share against loss from continuing operations of $1.816 million or $0.09 per basic and diluted share a year ago. Net income attributable to common shareholders was $14.582 million or $0.25 per basic and diluted share against $10.910 million or $0.20 per basic and diluted share a year ago. Funds from operations (FFO) available to common shareholders was $13.341 million or $0.22 per basic and diluted share against $11.141 million or $0.20 per basic and diluted share a year ago. Core FFO was $14.452 million or $0.24 per basic and diluted share against $15.886 million or $0.28 per basic and diluted share a year ago. For the six months, total revenues were $82.604 million against $77.991 million a year ago. Operating income was $3.933 million against $11.239 million a year ago. Income from continuing operations was $16.650 million or $0.17 per basic and diluted share against loss from continuing operations of $5.134 million or $0.21 per basic and diluted share a year ago. Net income attributable to common shareholders was $10.234 million or $0.17 per basic and diluted share against $9.833 million or $0.19 per basic and diluted share a year ago. Funds from operations (FFO) available to common shareholders was $25.592 million or $0.42 per basic and diluted share against $28.219 million or $0.52 per basic and diluted share a year ago. Core FFO was $27.816 million or $0.46 per basic and diluted share against $31.733 million or $0.58 per basic and diluted share a year ago. Foe the second quarter of 2014, the company reported an impairment of rental property of $3.956 million against $1.446 million a year ago. For the full year of 2014, the company modified Core FFO per share guidance to $0.91 to $0.97 per diluted share, as a result of expectation that the GSA will not take occupancy at Atlantic Corporate Park until early 2015, and the current anticipated timing and pace of acquisitions for the remainder of the year. Total NOI is expected to be in the range of $101.600 million to $104.600 million. Net income attributable to common shareholders per diluted share is expected to be in the range of $0.09 to $0.13.

First Potomac Realty Trust Announces Acquisition of 1775 Wiehle Avenue in Reston, Virginia for $41 Million

First Potomac Realty Trust announced the acquisition of 1775 Wiehle Avenue in Reston, Virginia for $41 million. 1775 Wiehle Avenue is a multi-tenanted Class-A office building totaling 130,048 square feet and is currently 100% leased. The five-story building is located in Reston, Virginia, two blocks from the Wiehle-Reston East Silver Line Metro station, which is expected to open in July 2014, and is conveniently located directly off the Dulles Toll Road. The property was unencumbered at the time of acquisition. In addition, the company sold Corporate Campus at Ashburn Center in Ashburn, Virginia for $41 million, which represents a significant return on investment for the company. Ashburn Center is a 194,184 square-foot, single-story business park located approximately five miles north of Dulles Airport. The company purchased the property in an off-market transaction in 2009 for approximately $14.7 million and invested an additional $5 million in the property. At the time of acquisition, the property was 45% leased and it was 100% leased at the time of sale. On a year-to-date basis, The company has acquired approximately $99 million of high-quality office properties at a weighted average capitalization rate of approximately 6.4% while disposing of approximately $86 million of business parks at a weighted average capitalization rate of approximately 8.3%.

First Potomac Realty Trust to Report Q2, 2014 Results on Jul 25, 2014

First Potomac Realty Trust announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Jul 25, 2014

 

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