Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Federal Realty Investment Trust (NYSE:FRT – Get Rating) by 16.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,531 shares of the real estate investment trust’s stock after buying an additional 1,230 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Federal Realty Investment Trust were worth $1,041,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. M&R Capital Management Inc. bought a new stake in shares of Federal Realty Investment Trust during the first quarter valued at about $32,000. National Bank of Canada FI bought a new stake in shares of Federal Realty Investment Trust during the fourth quarter valued at about $33,000. CWM LLC bought a new stake in shares of Federal Realty Investment Trust during the fourth quarter valued at about $50,000. Capital Analysts LLC bought a new stake in shares of Federal Realty Investment Trust during the fourth quarter valued at about $50,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Federal Realty Investment Trust during the first quarter valued at about $61,000. Institutional investors and hedge funds own 86.07% of the company’s stock.
In other news, Director David W. Faeder acquired 10,565 shares of the company’s stock in a transaction that occurred on Tuesday, June 21st. The shares were purchased at an average price of $95.84 per share, for a total transaction of $1,012,549.60. Following the completion of the acquisition, the director now owns 23,878 shares of the company’s stock, valued at approximately $2,288,467.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.
FRT has been the topic of a number of research analyst reports. StockNews.com initiated coverage on Federal Realty Investment Trust in a report on Thursday, March 31st. They set a “hold” rating on the stock. Jefferies Financial Group lowered their target price on Federal Realty Investment Trust from $133.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday. Credit Suisse Group initiated coverage on Federal Realty Investment Trust in a report on Wednesday, June 22nd. They set a “neutral” rating and a $104.00 target price on the stock. Raymond James raised Federal Realty Investment Trust from a “market perform” rating to a “strong-buy” rating and set a $140.00 target price on the stock in a report on Thursday, May 12th. Finally, Truist Financial lowered their target price on Federal Realty Investment Trust from $128.00 to $125.00 in a report on Friday, June 3rd. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.75.
Shares of FRT opened at $97.56 on Friday. The company has a market capitalization of $7.75 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 2.85 and a beta of 1.09. Federal Realty Investment Trust has a fifty-two week low of $92.02 and a fifty-two week high of $140.51. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.50 and a quick ratio of 1.50. The business’s 50-day moving average is $108.58 and its 200-day moving average is $118.87.
Federal Realty Investment Trust (NYSE:FRT – Get Rating) last issued its earnings results on Thursday, May 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.81). The business had revenue of $256.80 million during the quarter, compared to analyst estimates of $249.13 million. Federal Realty Investment Trust had a net margin of 26.80% and a return on equity of 10.76%. Federal Realty Investment Trust’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS. Equities research analysts expect that Federal Realty Investment Trust will post 6 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, June 22nd will be issued a $1.07 dividend. The ex-dividend date is Tuesday, June 21st. This represents a $4.28 dividend on an annualized basis and a yield of 4.39%. Federal Realty Investment Trust’s dividend payout ratio is currently 130.49%.
About Federal Realty Investment Trust (Get Rating)
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, DC to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty’s mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply.
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