California Public Employees Retirement System Trims Position in Federal Realty Investment Trust (NYSE:FRT)

California Public Employees Retirement System decreased its position in shares of Federal Realty Investment Trust (NYSE:FRT) by 4.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 151,058 shares of the real estate investment trust’s stock after selling 7,115 shares during the quarter. California Public Employees Retirement System’s holdings in Federal Realty Investment Trust were worth $14,618,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. lifted its stake in shares of Federal Realty Investment Trust by 237.0% during the first quarter. Brown Brothers Harriman & Co. now owns 337 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 237 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Federal Realty Investment Trust during the first quarter valued at approximately $42,000. Avalon Trust Co purchased a new position in Federal Realty Investment Trust during the first quarter worth approximately $49,000. EverSource Wealth Advisors LLC raised its stake in Federal Realty Investment Trust by 29.2% during the second quarter. EverSource Wealth Advisors LLC now owns 504 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 114 shares during the period. Finally, Parkside Financial Bank & Trust purchased a new position in Federal Realty Investment Trust during the first quarter worth approximately $60,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FRT. Mizuho downgraded shares of Federal Realty Investment Trust from a “buy” rating to a “neutral” rating and cut their price target for the stock from $105.00 to $101.00 in a research note on Monday, September 18th. Bank of America cut their price target on shares of Federal Realty Investment Trust from $125.00 to $124.00 and set a “buy” rating on the stock in a research note on Tuesday, August 22nd. Wells Fargo & Company cut their price target on shares of Federal Realty Investment Trust from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Monday, November 13th. Raymond James downgraded shares of Federal Realty Investment Trust from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $115.00 to $104.00 in a research note on Tuesday, September 5th. Finally, StockNews.com initiated coverage on shares of Federal Realty Investment Trust in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $112.36.

Federal Realty Investment Trust Price Performance

Shares of FRT stock opened at $92.38 on Tuesday. The firm has a market cap of $7.53 billion, a P/E ratio of 26.85, a P/E/G ratio of 2.55 and a beta of 1.25. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.43 and a quick ratio of 1.43. Federal Realty Investment Trust has a 1-year low of $85.27 and a 1-year high of $115.08. The firm has a fifty day moving average of $91.51 and a two-hundred day moving average of $94.55.

Federal Realty Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be issued a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Friday, December 29th. Federal Realty Investment Trust’s dividend payout ratio is currently 126.74%.

Federal Realty Investment Trust Company Profile

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.