ABC Arbitrage SA Buys 25,535 Shares of Federal Realty Investment Trust (NYSE:FRT)

Key Points

• ABC Arbitrage SA significantly increased its stake in Federal Realty Investment Trust by 209.5%, owning 37,726 shares worth approximately $3.69 million at the end of the first quarter.
• The quarterly earnings report for Federal Realty Investment Trust showed an EPS of $1.70, slightly beating estimates, with a net margin of 24.77% despite revenue falling short of expectations at $302.29 million.
• A recent dividend declaration reveals a quarterly payment of $1.10 per share, with an annualized yield of 4.8% and a dividend payout ratio of 126.07%.

ABC Arbitrage SA raised its stake in shares of Federal Realty Investment Trust (NYSE:FRT - Free Report) by 209.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,726 shares of the real estate investment trust's stock after acquiring an additional 25,535 shares during the period. ABC Arbitrage SA's holdings in Federal Realty Investment Trust were worth $3,690,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FRT. Principal Financial Group Inc. boosted its position in Federal Realty Investment Trust by 0.6% in the first quarter. Principal Financial Group Inc. now owns 155,434 shares of the real estate investment trust's stock worth $15,205,000 after purchasing an additional 917 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Federal Realty Investment Trust by 10.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,124 shares of the real estate investment trust's stock worth $697,000 after purchasing an additional 674 shares during the period. KBC Group NV boosted its holdings in shares of Federal Realty Investment Trust by 5.6% in the 1st quarter. KBC Group NV now owns 2,844 shares of the real estate investment trust's stock worth $278,000 after buying an additional 151 shares during the last quarter. Amalgamated Bank grew its position in Federal Realty Investment Trust by 1.0% during 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 period. Finally, New York State Common Retirement Fund grew its position in Federal Realty Investment Trust by 3.1% during the first quarter. New York State Common Retirement Fund now owns 60,214 shares of the real estate investment trust's stock valued at $5,890,000 after buying an additional 1,800 shares during the period. 93.86% of the stock is owned by hedge funds and other institutional investors.

Federal Realty Investment Trust Price Performance

Shares of FRT traded down $1.04 during midday trading on Friday, hitting $91.32. 1,020,558 shares of the company traded hands, compared to its average volume of 791,112. Federal Realty Investment Trust has a one year low of $80.65 and a one year high of $118.34. The firm has a market cap of $7.83 billion, a P/E ratio of 23.12, a PEG ratio of 3.72 and a beta of 1.14. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.72 and a quick ratio of 1.72. The stock has a 50-day moving average of $94.78 and a 200-day moving average of $97.46.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $1.91 EPS for the quarter, beating the consensus estimate of $1.73 by $0.18. Federal Realty Investment Trust had a net margin of 28.01% and a return on equity of 11.27%. The company had revenue of $302.48 million during the quarter, compared to analysts' expectations of $309.25 million. During the same quarter in the previous year, the company earned $1.69 earnings per share. Federal Realty Investment Trust's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Federal Realty Investment Trust will post 7.15 EPS for the current fiscal year.

Federal Realty Investment Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a dividend of $1.13 per share. This is a positive change from Federal Realty Investment Trust's previous quarterly dividend of $1.10. This represents a $4.52 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Federal Realty Investment Trust's dividend payout ratio is 111.39%.

Wall Street Analysts Forecast Growth

Several analysts have commented on FRT shares. Wall Street Zen raised shares of Federal Realty Investment Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. UBS Group lowered their price target on shares of Federal Realty Investment Trust from $118.00 to $103.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. BMO Capital Markets reiterated an "outperform" rating and issued a $110.00 price objective on shares of Federal Realty Investment Trust in a research note on Monday, May 26th. Evercore ISI decreased their target price on Federal Realty Investment Trust from $109.00 to $107.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Federal Realty Investment Trust in a research report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Federal Realty Investment Trust currently has an average rating of "Moderate Buy" and a consensus price target of $110.14.

Federal Realty Investment Trust Profile

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.