1832 Asset Management L.P. Takes Position in Federal Realty Investment Trust $FRT

Key Points

• 1832 Asset Management L.P. invested approximately $2.49 million in Federal Realty Investment Trust, acquiring 25,423 shares in the first quarter.
• Federal Realty Investment Trust recently increased its quarterly dividend to $1.13 per share, reflecting a 4.5% yield, up from $1.10.
• Several analysts have set new price targets for Federal Realty Investment Trust, with a consensus target of $110.43 and a "Moderate Buy" rating.

1832 Asset Management L.P. acquired a new stake in Federal Realty Investment Trust (NYSE:FRT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 25,423 shares of the real estate investment trust's stock, valued at approximately $2,487,000.

Several other hedge funds also recently bought and sold shares of the stock. Versant Capital Management Inc raised its holdings in shares of Federal Realty Investment Trust by 82.3% in the 1st quarter. Versant Capital Management Inc now owns 288 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 130 shares during the period. Exchange Traded Concepts LLC grew its holdings in Federal Realty Investment Trust by 18.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 845 shares of the real estate investment trust's stock worth $83,000 after acquiring an additional 130 shares in the last quarter. Ethic Inc. increased its position in shares of Federal Realty Investment Trust by 2.3% in the 4th quarter. Ethic Inc. now owns 6,426 shares of the real estate investment trust's stock valued at $719,000 after purchasing an additional 145 shares during the last quarter. Amalgamated Bank increased its holdings in Federal Realty Investment Trust by 1.0% in the first quarter. Amalgamated Bank now owns 15,284 shares of the real estate investment trust's stock valued at $1,495,000 after buying an additional 146 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Federal Realty Investment Trust by 5.6% during the 1st quarter. KBC Group NV now owns 2,844 shares of the real estate investment trust's stock worth $278,000 after acquiring an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 93.86% of the company's stock.

Analysts Set New Price Targets

FRT has been the topic of several research analyst reports. Mizuho lifted their price target on shares of Federal Realty Investment Trust from $96.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Wells Fargo & Company upped their target price on Federal Realty Investment Trust from $113.00 to $116.00 and gave the company an "overweight" rating in a research report on Wednesday. UBS Group cut their price target on Federal Realty Investment Trust from $118.00 to $103.00 and set a "neutral" rating on the stock in a research report on Monday, June 16th. BMO Capital Markets reissued an "outperform" rating and issued a $110.00 price objective on shares of Federal Realty Investment Trust in a report on Monday, May 26th. Finally, Scotiabank restated an "outperform" rating on shares of Federal Realty Investment Trust in a research report on Thursday. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $110.79.

Federal Realty Investment Trust Price Performance

NYSE FRT traded down $0.41 during trading hours on Thursday, reaching $99.88. The company's stock had a trading volume of 477,770 shares, compared to its average volume of 786,487. The company has a debt-to-equity ratio of 1.42, a quick ratio of 2.14 and a current ratio of 2.14. The company's 50-day moving average is $94.73 and its two-hundred day moving average is $96.26. Federal Realty Investment Trust has a fifty-two week low of $80.65 and a fifty-two week high of $118.34. The stock has a market cap of $8.62 billion, a PE ratio of 25.29, a PEG ratio of 3.77 and a beta of 1.14.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.18. The firm had revenue of $302.48 million during the quarter, compared to the consensus estimate of $309.25 million. Federal Realty Investment Trust had a net margin of 28.01% and a return on equity of 11.19%. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.69 EPS. Analysts forecast that Federal Realty Investment Trust will post 7.15 EPS for the current year.

Federal Realty Investment Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, October 1st. This is an increase from Federal Realty Investment Trust's previous quarterly dividend of $1.10. Federal Realty Investment Trust's dividend payout ratio is presently 111.39%.

About Federal Realty Investment Trust

Federal Realty Investment Trust is an equity real estate investment trust, which engages in the provision of ownership, management, and redevelopment of retail and mixed-use properties located primarily in communities where demand exceeds supply in strategically selected metropolitan markets. The company was founded in 1962 and is headquartered in North Bethesda, MD.