Federal Realty Investment Trust (NYSE:FRT) Rating Increased to Strong-Buy at Wells Fargo & Company

Federal Realty Investment Trust (NYSE:FRT) was upgraded by equities research analysts at Wells Fargo & Company to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

FRT has been the subject of several other reports. Deutsche Bank Aktiengesellschaft upgraded Federal Realty Investment Trust from a “hold” rating to a “buy” rating and set a $135.00 target price for the company in a report on Friday, May 29th. Piper Sandler boosted their price target on shares of Federal Realty Investment Trust from $127.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday. Bank of America boosted their price target on shares of Federal Realty Investment Trust from $128.00 to $131.00 and gave the company a “buy” rating in a research report on Monday, June 29th. JPMorgan Chase & Co. lifted their target price on shares of Federal Realty Investment Trust from $115.00 to $124.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Finally, Wolfe Research assumed coverage on shares of Federal Realty Investment Trust in a report on Wednesday, July 8th. They issued an “outperform” rating and a $143.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Federal Realty Investment Trust currently has an average rating of “Moderate Buy” and an average target price of $127.62.

Federal Realty Investment Trust Price Performance

NYSE:FRT opened at $126.07 on Thursday. Federal Realty Investment Trust has a one year low of $89.99 and a one year high of $126.86. The stock has a market cap of $10.89 billion, a PE ratio of 21.89, a P/E/G ratio of 2.97 and a beta of 0.93. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a 50 day moving average price of $121.97 and a 200 day moving average price of $112.10.

Hedge Funds Weigh In On Federal Realty Investment Trust

A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in Federal Realty Investment Trust in the 4th quarter valued at about $734,290,000. AQR Capital Management LLC lifted its position in Federal Realty Investment Trust by 116.3% in the fourth quarter. AQR Capital Management LLC now owns 1,820,547 shares of the real estate investment trust’s stock valued at $183,511,000 after buying an additional 979,064 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Federal Realty Investment Trust by 453.1% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 587,687 shares of the real estate investment trust’s stock worth $59,539,000 after buying an additional 481,427 shares during the period. Alyeska Investment Group L.P. purchased a new position in Federal Realty Investment Trust during the fourth quarter worth about $46,415,000. Finally, Millennium Management LLC increased its position in shares of Federal Realty Investment Trust by 1,920.6% during the fourth quarter. Millennium Management LLC now owns 477,038 shares of the real estate investment trust’s stock valued at $48,085,000 after acquiring an additional 453,429 shares during the last quarter. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Federal Realty Investment Trust Company Profile

Federal Realty Investment Trust (NYSE: FRT) is a real estate investment trust specializing in the ownership, management, and redevelopment of high-quality retail, restaurant, and mixed-use properties. With a strategic focus on open-air shopping centers and lifestyle-oriented urban destinations, the company partners with leading national and regional retailers to curate environments that blend shopping, dining, entertainment, office, and residential uses. Its asset management capabilities extend from initial site selection and development through ongoing property operations and tenant relations.

Federal Realty’s portfolio comprises approximately 100 properties totaling more than 25 million square feet of gross leasable area.