Federal Realty Investment Trust (NYSE:FRT) Stock Gets Price Target Trim from Citigroup

Federal Realty Investment Trust (NYSE:FRT) had its price target cut by Citigroup from $130.00 to $121.00 in a report issued on Monday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

FRT has been the subject of a number of other research reports. Barclays dropped their target price on Federal Realty Investment Trust from $123.00 to $118.00 and set an “equal weight” rating for the company in a report on Monday, September 28th. Piper Sandler raised their price target on Federal Realty Investment Trust from $131.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. Weiss Ratings downgraded Federal Realty Investment Trust from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 1st. Scotiabank dropped their price objective on shares of Federal Realty Investment Trust from $128.00 to $126.00 and set a “sector outperform” rating for the company in a research note on Thursday, September 17th. Finally, Truist Financial started coverage on shares of Federal Realty Investment Trust in a research report on Thursday, October 1st. They set a “hold” rating and a $116.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $124.69.

Federal Realty Investment Trust Price Performance

Shares of Federal Realty Investment Trust stock opened at $113.11 on Monday. The stock has a 50 day moving average of $110.33 and a 200 day moving average of $113.35. Federal Realty Investment Trust has a 12 month low of $95.14 and a 12 month high of $128.21. The firm has a market cap of $9.73 billion, a PE ratio of 15.23, a PEG ratio of 2.86 and a beta of 0.94. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.55.

Federal Realty Investment Trust (NYSE:FRT) last announced its quarterly earnings results on Friday, October 30th. The real estate investment trust reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $1.85 by ($1.11). Federal Realty Investment Trust had a net margin of 32.60% and a return on equity of 13.76%. The business had revenue of $339.02 million during the quarter, compared to the consensus estimate of $336.57 million. During the same period in the previous year, the business posted $1.77 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. On average, research analysts expect that Federal Realty Investment Trust will post 7.56 EPS for the current fiscal year.

Federal Realty Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, January 4th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, January 4th. Federal Realty Investment Trust’s dividend payout ratio is 92.80%.

Insider Buying and Selling

In other Federal Realty Investment Trust news, Director Nicole Lamb-Hale sold 1,500 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $108.89, for a total value of $163,335.00. Following the sale, the director owned 4,613 shares in the company, valued at $502,309.57. This trade represents a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

Institutional Trading of Federal Realty Investment Trust

Several institutional investors and hedge funds have recently made changes to their positions in FRT. Bank of America Corp DE raised its stake in shares of Federal Realty Investment Trust by 90.2% during the first quarter. Bank of America Corp DE now owns 509,498 shares of the real estate investment trust’s stock valued at $54,114,000 after acquiring an additional 241,684 shares in the last quarter. Renaissance Technologies LLC bought a new position in Federal Realty Investment Trust in the first quarter worth approximately $1,519,000. Contravisory Investment Management Inc. grew its stake in Federal Realty Investment Trust by 1,175.7% in the second quarter. Contravisory Investment Management Inc. now owns 9,708 shares of the real estate investment trust’s stock worth $1,198,000 after purchasing an additional 8,947 shares in the last quarter. Engineers Gate Manager LP bought a new position in Federal Realty Investment Trust in the second quarter worth approximately $3,350,000. Finally, Resolution Capital Ltd increased its holdings in Federal Realty Investment Trust by 10.3% during the 1st quarter. Resolution Capital Ltd now owns 3,644,575 shares of the real estate investment trust’s stock worth $387,090,000 after purchasing an additional 340,524 shares during the period. 93.86% of the stock is currently owned by institutional investors.

About Federal Realty Investment Trust

Federal Realty Investment Trust is a real estate investment trust that owns, operates, and redevelops retail and mixed-use properties. Its portfolio includes shopping centers and destination-style properties that combine retail, restaurants, entertainment, and, in some locations, residential and office space. The company focuses on established, densely populated communities, primarily in the Northeast, Mid-Atlantic, California, and South Florida. Its properties serve shoppers, residents, and businesses through a mix of national and local retailers, dining options, and other services.