Sumitomo Mitsui DS Asset Management Company Ltd Acquires 1,367 Shares of Federal Realty Investment Trust (NYSE:FRT)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Federal Realty Investment Trust (NYSE:FRT) by 7.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,754 shares of the real estate investment trust’s stock after buying an additional 1,367 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Federal Realty Investment Trust were worth $2,271,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in FRT. Westwood Holdings Group Inc. increased its stake in Federal Realty Investment Trust by 571.1% during the second quarter. Westwood Holdings Group Inc. now owns 642,446 shares of the real estate investment trust’s stock worth $64,868,000 after acquiring an additional 546,711 shares during the last quarter. Millennium Management LLC increased its position in shares of Federal Realty Investment Trust by 304.0% during the 2nd quarter. Millennium Management LLC now owns 415,603 shares of the real estate investment trust’s stock valued at $41,963,000 after purchasing an additional 312,726 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Federal Realty Investment Trust by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 12,731,109 shares of the real estate investment trust’s stock valued at $1,300,101,000 after purchasing an additional 193,740 shares during the last quarter. Mizuho Markets Americas LLC raised its holdings in Federal Realty Investment Trust by 311.0% during the 1st quarter. Mizuho Markets Americas LLC now owns 212,129 shares of the real estate investment trust’s stock valued at $21,663,000 after buying an additional 160,519 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Federal Realty Investment Trust by 4.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,994,209 shares of the real estate investment trust’s stock worth $201,355,000 after buying an additional 90,395 shares during the last quarter. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Federal Realty Investment Trust Stock Down 1.0 %

NYSE:FRT opened at $113.21 on Tuesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.74 and a quick ratio of 1.74. Federal Realty Investment Trust has a 1-year low of $85.59 and a 1-year high of $118.34. The company has a 50-day moving average of $113.96 and a 200 day moving average of $107.01. The firm has a market cap of $9.39 billion, a PE ratio of 40.29, a price-to-earnings-growth ratio of 2.11 and a beta of 1.23.

Federal Realty Investment Trust (NYSE:FRT) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $1.32 earnings per share 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 business had revenue of $295.80 million during the quarter, compared to analysts’ expectations of $293.61 million. During the same period in the previous year, the company posted $1.67 EPS. Federal Realty Investment Trust’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts anticipate that Federal Realty Investment Trust will post 6.81 EPS for the current fiscal year.

Federal Realty Investment Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Tuesday, October 1st. This is a boost from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. Federal Realty Investment Trust’s dividend payout ratio (DPR) is 156.58%.

Insider Activity

In related news, CEO Donald C. Wood sold 30,292 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 6,637 shares in the company, valued at $771,020.29. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Donald C. Wood sold 30,292 shares of the 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 completion of the sale, the chief executive officer now owns 6,637 shares of the company’s stock, valued at $771,020.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Donald C. Wood sold 5,937 shares of the firm’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.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FRT. Citigroup raised shares of Federal Realty Investment Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $120.00 to $135.00 in a research note on Friday, September 13th. Truist Financial boosted their target price on Federal Realty Investment Trust from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Compass Point increased their price target on Federal Realty Investment Trust from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Mizuho boosted their price objective on Federal Realty Investment Trust from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Finally, Evercore ISI increased their target price on Federal Realty Investment Trust from $120.00 to $123.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.77.

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.