Adage Capital Partners GP L.L.C. Purchases 98,900 Shares of Federal Realty Investment Trust $FRT

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in Federal Realty Investment Trust by 30.8%, acquiring an additional 98,900 shares, now owning 420,400 shares valued at approximately $41.12 million.
• Federal Realty Investment Trust's recent quarterly earnings surpassed expectations, reporting $1.91 EPS against a consensus estimate of $1.73, while revenue increased by 5.2% year-over-year.
• The company also announced an increase in its quarterly dividend to $1.13 per share, representing a yield of 4.5%, with a dividend payout ratio of 111.39%.

Adage Capital Partners GP L.L.C. grew its position in shares of Federal Realty Investment Trust (NYSE:FRT - Free Report) by 30.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 420,400 shares of the real estate investment trust's stock after acquiring an additional 98,900 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.49% of Federal Realty Investment Trust worth $41,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in shares of Federal Realty Investment Trust during the 4th quarter worth approximately $30,000. Versant Capital Management Inc grew its holdings in shares of Federal Realty Investment Trust by 82.3% during the 1st quarter. Versant Capital Management Inc now owns 288 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 130 shares during the period. GKV Capital Management Co. Inc. purchased a new position in shares of Federal Realty Investment Trust during the 1st quarter worth approximately $30,000. Federated Hermes Inc. grew its holdings in shares of Federal Realty Investment Trust by 143.9% during the 1st quarter. Federated Hermes Inc. now owns 339 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 200 shares during the period. Finally, Dagco Inc. purchased a new position in shares of Federal Realty Investment Trust during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 93.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FRT. Raymond James Financial reduced their target price on Federal Realty Investment Trust from $117.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. UBS Group dropped 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. Wall Street Zen raised Federal Realty Investment Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Evercore ISI dropped their price target on Federal Realty Investment Trust from $109.00 to $107.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $110.00 price target on shares of Federal Realty Investment Trust in a research report on Monday, May 26th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.79.

Federal Realty Investment Trust Stock Down 0.7%

FRT stock traded down $0.71 during midday trading on Tuesday, hitting $101.04. The company's stock had a trading volume of 105,647 shares, compared to its average volume of 778,988. The company has a market cap of $8.72 billion, a PE ratio of 25.58, a P/E/G ratio of 3.92 and a beta of 1.16. Federal Realty Investment Trust has a 12 month low of $80.65 and a 12 month high of $118.34. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 1.42. The firm's 50-day moving average is $95.60 and its 200-day moving average is $95.74.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.18. The business had revenue of $302.48 million for the quarter, compared to analysts' expectations of $309.25 million. Federal Realty Investment Trust had a return on equity of 11.19% and a net margin of 28.01%.The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.69 EPS. On average, equities research analysts forecast that Federal Realty Investment Trust will post 7.15 earnings per share 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 given a $1.13 dividend. This is a boost from Federal Realty Investment Trust's previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $4.52 annualized dividend and a yield of 4.5%. Federal Realty Investment Trust's payout ratio is currently 114.43%.

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.