Federal Realty Investment Trust (NYSE:FRT) Issues FY24 Earnings Guidance

Federal Realty Investment Trust (NYSE:FRT) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $6.70-6.88 for the period, compared to the consensus earnings per share estimate of $6.79. Federal Realty Investment Trust also updated its FY 2024 guidance to 6.700-6.880 EPS.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FRT. Truist Financial cut their price target on shares of Federal Realty Investment Trust from $117.00 to $115.00 and set a buy rating for the company in a report on Monday, May 20th. Evercore ISI cut their price target on Federal Realty Investment Trust from $115.00 to $114.00 and set an outperform rating for the company in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of Federal Realty Investment Trust from a hold rating to a buy rating and increased their price target for the company from $109.00 to $110.00 in a research report on Monday, April 22nd. Wells Fargo & Company raised their price objective on shares of Federal Realty Investment Trust from $112.00 to $115.00 and gave the stock an overweight rating in a research note on Tuesday, May 28th. Finally, Mizuho raised their price target on Federal Realty Investment Trust from $101.00 to $104.00 and gave the stock a neutral rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $115.30.

Federal Realty Investment Trust Stock Down 0.3 %

Shares of NYSE FRT traded down $0.32 during trading on Friday, reaching $112.48. 979,478 shares of the stock were exchanged, compared to its average volume of 492,730. Federal Realty Investment Trust has a twelve month low of $85.59 and a twelve month high of $115.05. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $9.33 billion, a price-to-earnings ratio of 40.03, a price-to-earnings-growth ratio of 2.26 and a beta of 1.23. The business’s 50-day moving average price is $103.57 and its 200 day moving average price is $101.90.

Federal Realty Investment Trust (NYSE:FRT) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.36). Federal Realty Investment Trust had a net margin of 24.69% and a return on equity of 10.14%. The business had revenue of $295.80 million for the quarter, compared to analyst estimates of $293.61 million. During the same quarter last year, the business earned $1.67 EPS. Federal Realty Investment Trust’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities analysts forecast that Federal Realty Investment Trust will post 6.8 EPS for the current fiscal year.

Federal Realty Investment Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a $1.10 dividend. This is a positive change from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. The ex-dividend date is Tuesday, October 1st. This represents a $4.40 annualized dividend and a dividend yield of 3.91%. Federal Realty Investment Trust’s dividend payout ratio (DPR) is presently 155.16%.

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.