Federal Realty Investment Trust (NYSE:FRT) Reaches New 52-Week High After Analyst Upgrade

Federal Realty Investment Trust (NYSE:FRT) hit a new 52-week high on Monday after Evercore ISI raised their price target on the stock from $120.00 to $123.00. Evercore ISI currently has an outperform rating on the stock. Federal Realty Investment Trust traded as high as $118.34 and last traded at $117.33, with a volume of 66302 shares. The stock had previously closed at $117.39.

A number of other equities research analysts also recently commented on FRT. JPMorgan Chase & Co. increased their price objective on shares of Federal Realty Investment Trust from $112.00 to $121.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Raymond James upped their price objective on Federal Realty Investment Trust from $108.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Wells Fargo & Company raised their target price on Federal Realty Investment Trust from $115.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Truist Financial upped their price target on Federal Realty Investment Trust from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Scotiabank raised their price objective on shares of Federal Realty Investment Trust from $112.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $122.85.

Insider Buying and Selling

In other Federal Realty Investment Trust news, CEO Donald C. Wood sold 5,937 shares of Federal Realty Investment Trust stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $116.47, for a total value of $691,482.39. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Donald C. Wood sold 5,937 shares of Federal Realty Investment Trust stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $116.47, for a total value of $691,482.39. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Donald C. Wood sold 30,292 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $116.17, for a total transaction of $3,519,021.64. Following the transaction, the chief executive officer now owns 6,637 shares in the company, valued at $771,020.29. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Federal Realty Investment Trust

Several hedge funds have recently modified their holdings of FRT. Sanctuary Advisors LLC acquired a new position in shares of Federal Realty Investment Trust during the 2nd quarter worth $228,000. Cetera Investment Advisers grew its position in Federal Realty Investment Trust by 1.1% during the second quarter. Cetera Investment Advisers now owns 21,952 shares of the real estate investment trust’s stock worth $2,216,000 after buying an additional 241 shares during the period. Point72 Asset Management L.P. purchased a new position in Federal Realty Investment Trust in the second quarter valued at about $303,000. Quarry LP increased its holdings in Federal Realty Investment Trust by 269.9% in the second quarter. Quarry LP now owns 1,498 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 1,093 shares in the last quarter. Finally, Algert Global LLC lifted its position in shares of Federal Realty Investment Trust by 40.6% during the 2nd quarter. Algert Global LLC now owns 26,048 shares of the real estate investment trust’s stock valued at $2,630,000 after acquiring an additional 7,520 shares during the period. 93.86% of the stock is owned by institutional investors and hedge funds.

Federal Realty Investment Trust Price Performance

The firm has a market cap of $9.73 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. The company has a 50 day moving average price of $111.82 and a 200 day moving average price of $104.73. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 1.57.

Federal Realty Investment Trust (NYSE:FRT) last posted 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). The firm had revenue of $295.80 million during the quarter, compared to analyst estimates of $293.61 million. Federal Realty Investment Trust had a net margin of 24.69% and a return on equity of 10.07%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.67 EPS. On average, sell-side analysts expect that Federal Realty Investment Trust will post 6.81 EPS for the current year.

Federal Realty Investment Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Tuesday, October 1st. This is a positive change from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. Federal Realty Investment Trust’s dividend payout ratio is currently 156.58%.

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 communities where retail demand exceeds supply.