Federal Realty Investment Trust (NYSE:FRT) Price Target Cut to $119.00 by Analysts at Scotiabank

Federal Realty Investment Trust (NYSE:FRT) had its price objective cut by Scotiabank from $120.00 to $119.00 in a report published on Friday morning, Benzinga reports. They currently have a sector outperform rating on the real estate investment trust’s stock.

Several other brokerages have also commented on FRT. Evercore ISI lifted their target price on Federal Realty Investment Trust from $120.00 to $123.00 and gave the stock an outperform rating in a research report on Monday, September 16th. Mizuho increased their target price on shares of Federal Realty Investment Trust from $104.00 to $116.00 and gave the stock a neutral rating in a report on Monday, August 19th. JPMorgan Chase & Co. lifted their price target on shares of Federal Realty Investment Trust from $112.00 to $121.00 and gave the company a neutral rating in a report on Thursday, August 8th. Compass Point increased their price objective on shares of Federal Realty Investment Trust from $125.00 to $130.00 and gave the stock a buy rating in a research note on Tuesday, September 10th. Finally, Raymond James lifted their target price on Federal Realty Investment Trust from $108.00 to $120.00 and gave the company an outperform rating in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $122.77.

Federal Realty Investment Trust Price Performance

FRT stock opened at $111.45 on Friday. The stock’s 50 day moving average is $113.81 and its two-hundred day moving average is $106.39. Federal Realty Investment Trust has a 52-week low of $85.59 and a 52-week high of $118.34. The company has a market capitalization of $9.25 billion, a PE ratio of 39.66, a P/E/G ratio of 2.11 and a beta of 1.23. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 1.57.

Federal Realty Investment Trust (NYSE:FRT) last posted 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 company 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 company’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.67 earnings per share. Analysts predict that Federal Realty Investment Trust will post 6.81 earnings per share for the current fiscal year.

Federal Realty Investment Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend 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%.

Insider Buying and Selling at Federal Realty Investment Trust

In other news, CEO Donald C. Wood sold 5,937 shares of the 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Federal Realty Investment Trust news, CEO Donald C. Wood sold 5,937 shares of the business’s 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 legal filing with the SEC, which is available through the SEC website. Also, CEO Donald C. Wood sold 30,292 shares of the firm’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Family Firm Inc. bought a new stake in shares of Federal Realty Investment Trust during the 2nd quarter worth $33,000. Blue Trust Inc. increased its stake in Federal Realty Investment Trust by 885.7% in the 2nd 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 in the last quarter. Rothschild Investment LLC acquired a new stake in Federal Realty Investment Trust during the 2nd quarter worth about $42,000. Quarry LP purchased a new stake in Federal Realty Investment Trust during the fourth quarter valued at about $50,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of Federal Realty Investment Trust in the fourth quarter worth about $51,000. Institutional investors and hedge funds own 93.86% of the company’s stock.

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.