Heritage Investors Management Corp Decreases Stake in Federal Realty Investment Trust (NYSE:FRT)

Heritage Investors Management Corp lowered its stake in Federal Realty Investment Trust (NYSE:FRT) by 7.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,874 shares of the real estate investment trust’s stock after selling 160 shares during the period. Heritage Investors Management Corp’s holdings in Federal Realty Investment Trust were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in FRT. NBC Securities Inc. raised its holdings in shares of Federal Realty Investment Trust by 81.7% during the third quarter. NBC Securities Inc. now owns 238 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 107 shares during the last quarter. Family Firm Inc. purchased a new position in shares of Federal Realty Investment Trust during the second quarter worth $33,000. Blue Trust Inc. raised its holdings in shares of Federal Realty Investment Trust by 885.7% during the second quarter. Blue Trust Inc. now owns 345 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 310 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Federal Realty Investment Trust during the second quarter worth $42,000. Finally, Eastern Bank purchased a new position in shares of Federal Realty Investment Trust during the third quarter worth $52,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Insider Activity

In other news, CEO Donald C. Wood sold 5,937 shares of the business’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 value of $691,482.39. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Donald C. Wood sold 30,292 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $116.17, for a total value of $3,519,021.64. Following the sale, the chief executive officer now directly owns 6,637 shares of the company’s stock, valued at approximately $771,020.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was 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. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on FRT shares. Truist Financial lifted their price objective 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. Citigroup raised shares of 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. Wells Fargo & Company lifted their target price on shares of 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. Raymond James lifted their target price on shares of 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. Finally, Evercore ISI lifted their target price on shares of Federal Realty Investment Trust from $120.00 to $123.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Federal Realty Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.77.

Federal Realty Investment Trust Price Performance

Federal Realty Investment Trust stock opened at $113.73 on Wednesday. The company’s 50 day simple moving average is $113.77 and its 200-day simple moving average is $108.06. The company has a market capitalization of $9.43 billion, a price-to-earnings ratio of 33.06, a price-to-earnings-growth ratio of 2.09 and a beta of 1.24. Federal Realty Investment Trust has a 1 year low of $90.70 and a 1 year high of $118.34. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.56 and a current ratio of 1.56.

Federal Realty Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Thursday, January 2nd. Federal Realty Investment Trust’s dividend payout ratio (DPR) is 127.91%.

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.