Zacks: Brokerages Expect Federal Realty Investment Trust (FRT) to Post $1.57 EPS
Analysts expect Federal Realty Investment Trust (NYSE:FRT) to post $1.57 earnings per share for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Federal Realty Investment Trust’s earnings. The highest EPS estimate is $1.59 and the lowest is $1.54. Federal Realty Investment Trust posted earnings per share of $1.47 during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.8%. The company is scheduled to announce its next earnings results after the market closes on Wednesday, February 13th.
According to Zacks, analysts expect that Federal Realty Investment Trust will report full-year earnings of $6.22 per share for the current fiscal year, with EPS estimates ranging from $6.20 to $6.24. For the next financial year, analysts forecast that the firm will report earnings of $6.43 per share, with EPS estimates ranging from $6.32 to $6.48. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover Federal Realty Investment Trust.
Several brokerages recently weighed in on FRT. Zacks Investment Research cut Federal Realty Investment Trust from a “buy” rating to a “hold” rating in a report on Thursday, November 22nd. BMO Capital Markets set a $135.00 price target on Federal Realty Investment Trust and gave the company a “buy” rating in a research report on Wednesday, October 31st. Citigroup set a $146.00 target price on Federal Realty Investment Trust and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Scotiabank began coverage on Federal Realty Investment Trust in a research report on Tuesday, October 16th. They issued an “outperform” rating for the company. Finally, Wells Fargo & Co upped their price target on Federal Realty Investment Trust from $144.00 to $148.00 and gave the stock an “outperform” rating in a research note on Thursday, November 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. Federal Realty Investment Trust has an average rating of “Buy” and a consensus target price of $137.38.
In other Federal Realty Investment Trust news, insider Donald C. Wood sold 12,210 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $132.43, for a total transaction of $1,616,970.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.95% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Highstreet Asset Management Inc. bought a new stake in Federal Realty Investment Trust during the fourth quarter valued at about $529,000. Ffcm LLC raised its holdings in Federal Realty Investment Trust by 6.7% during the fourth quarter. Ffcm LLC now owns 4,480 shares of the real estate investment trust’s stock valued at $529,000 after acquiring an additional 281 shares during the period. BlackRock Inc. raised its holdings in Federal Realty Investment Trust by 2.1% during the fourth quarter. BlackRock Inc. now owns 8,090,383 shares of the real estate investment trust’s stock valued at $954,987,000 after acquiring an additional 162,586 shares during the period. Utah Retirement Systems raised its holdings in Federal Realty Investment Trust by 0.6% during the fourth quarter. Utah Retirement Systems now owns 16,965 shares of the real estate investment trust’s stock valued at $2,003,000 after acquiring an additional 100 shares during the period. Finally, Doyle Wealth Management bought a new stake in Federal Realty Investment Trust during the fourth quarter valued at about $169,000. 91.55% of the stock is currently owned by institutional investors and hedge funds.
About Federal Realty Investment Trust
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 densely populated, affluent communities where retail demand exceeds supply.
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