Employees Retirement System of Texas Sells 24,000 Shares of Federal Realty Investment Trust (NYSE:FRT)

Employees Retirement System of Texas cut its position in shares of Federal Realty Investment Trust (NYSE:FRT) by 46.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,000 shares of the real estate investment trust’s stock after selling 24,000 shares during the period. Employees Retirement System of Texas’ holdings in Federal Realty Investment Trust were worth $2,827,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SG Americas Securities LLC increased its holdings in Federal Realty Investment Trust by 133.3% in the 1st quarter. SG Americas Securities LLC now owns 45,035 shares of the real estate investment trust’s stock valued at $4,599,000 after buying an additional 25,730 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Federal Realty Investment Trust by 6.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 309,103 shares of the real estate investment trust’s stock valued at $31,567,000 after acquiring an additional 19,453 shares during the period. Heitman Real Estate Securities LLC raised its position in Federal Realty Investment Trust by 1,553.3% in the fourth quarter. Heitman Real Estate Securities LLC now owns 207,700 shares of the real estate investment trust’s stock worth $21,403,000 after purchasing an additional 195,137 shares in the last quarter. Vident Advisory LLC lifted its stake in Federal Realty Investment Trust by 107.9% during the first quarter. Vident Advisory LLC now owns 46,501 shares of the real estate investment trust’s stock worth $4,749,000 after purchasing an additional 24,134 shares during the period. Finally, Entropy Technologies LP acquired a new stake in Federal Realty Investment Trust during the first quarter valued at approximately $602,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Donald C. Wood sold 5,937 shares of Federal Realty Investment Trust stock in a transaction on Monday, September 9th. The stock was sold at an average price of $116.47, for a total transaction of $691,482.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Donald C. Wood sold 30,292 shares of Federal Realty Investment Trust stock in a transaction that occurred on Thursday, September 5th. The shares were 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 of the company’s stock, valued at approximately $771,020.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Donald C. Wood sold 5,937 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $116.47, for a total transaction of $691,482.39. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FRT. Wells Fargo & Company increased their target price on Federal Realty Investment Trust from $115.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Citigroup raised Federal Realty Investment Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $120.00 to $135.00 in a report on Friday, September 13th. Piper Sandler upped their target price on shares of Federal Realty Investment Trust from $122.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Truist Financial lifted their price target on shares of 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, JPMorgan Chase & Co. upped their price objective on shares of Federal Realty Investment Trust from $112.00 to $121.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.85.

Federal Realty Investment Trust Stock Performance

FRT stock opened at $113.63 on Friday. The stock has a market capitalization of $9.43 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 2.16 and a beta of 1.24. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.74 and a quick ratio of 1.74. The company has a 50 day moving average price of $113.51 and a 200 day moving average price of $105.52. Federal Realty Investment Trust has a fifty-two week low of $85.59 and a fifty-two week high of $118.34.

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). The firm had revenue of $295.80 million for 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 company’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $1.67 EPS. Analysts forecast that Federal Realty Investment Trust will post 6.81 EPS for the current year.

Federal Realty Investment Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This is a boost from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. This represents a $4.40 dividend on an annualized basis and a yield of 3.87%. Federal Realty Investment Trust’s dividend payout ratio (DPR) is presently 156.58%.

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.