Van ECK Associates Corp Decreases Stock Position in Federal Realty Investment Trust (NYSE:FRT)

Van ECK Associates Corp reduced its position in Federal Realty Investment Trust (NYSE:FRT) by 2.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,378 shares of the real estate investment trust’s stock after selling 733 shares during the quarter. Van ECK Associates Corp’s holdings in Federal Realty Investment Trust were worth $3,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Federal Realty Investment Trust by 1.5% in the first quarter. Vanguard Group Inc. now owns 12,731,109 shares of the real estate investment trust’s stock worth $1,300,101,000 after buying an additional 193,740 shares during the last quarter. Norges Bank purchased a new position in shares of Federal Realty Investment Trust in the fourth quarter valued at $743,378,000. Massachusetts Financial Services Co. MA grew its position in shares of Federal Realty Investment Trust by 53.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,355,907 shares of the real estate investment trust’s stock valued at $139,726,000 after purchasing an additional 469,425 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Federal Realty Investment Trust by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,155,825 shares of the real estate investment trust’s stock valued at $119,108,000 after purchasing an additional 40,984 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Federal Realty Investment Trust by 29.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 407,585 shares of the real estate investment trust’s stock valued at $42,002,000 after purchasing an additional 93,048 shares in the last quarter. 93.86% of the stock is owned by hedge funds and other institutional investors.

Federal Realty Investment Trust Trading Up 1.3 %

Shares of FRT stock opened at $115.94 on Friday. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 1.57. The business has a 50-day moving average price of $109.93 and a two-hundred day moving average price of $103.91. Federal Realty Investment Trust has a 12-month low of $85.59 and a 12-month high of $117.23. The firm has a market cap of $9.62 billion, a P/E ratio of 41.26, a price-to-earnings-growth ratio of 2.17 and a beta of 1.23.

Federal Realty Investment Trust (NYSE:FRT) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.36). Federal Realty Investment Trust had a return on equity of 10.07% and a net margin of 24.69%. The firm had revenue of $295.80 million for the quarter, compared to the consensus estimate of $293.61 million. During the same period last year, the firm earned $1.67 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts anticipate that Federal Realty Investment Trust will post 6.81 EPS for the current fiscal year.

Federal Realty Investment Trust Increases Dividend

The company 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. The ex-dividend date is Tuesday, October 1st. This represents a $4.40 annualized dividend and a yield of 3.80%. This is a positive change from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. Federal Realty Investment Trust’s payout ratio is 156.58%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FRT. Wells Fargo & Company lifted their price target on Federal Realty Investment Trust from $115.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Piper Sandler lifted their price target on Federal Realty Investment Trust from $122.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Raymond James lifted their price target on Federal Realty Investment Trust from $108.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. boosted their target price on Federal Realty Investment Trust from $112.00 to $121.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Scotiabank boosted their target price on Federal Realty Investment Trust from $112.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.82.

Federal Realty Investment Trust 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.