Federal Realty Investment Trust $FRT Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC has reduced its stake in Federal Realty Investment Trust by 38.9%, selling 45,650 shares during the first quarter.
• Federal Realty Investment Trust reported earnings of $1.91 per share, exceeding expectations, while also seeing quarterly revenue of $302.48 million.
• The company will increase its dividend to $1.13 per share, marking an annual yield of 4.8%.

Algert Global LLC trimmed its stake in Federal Realty Investment Trust (NYSE:FRT - Free Report) by 38.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,669 shares of the real estate investment trust's stock after selling 45,650 shares during the period. Algert Global LLC owned 0.08% of Federal Realty Investment Trust worth $7,011,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Park Square Financial Group LLC bought a new position in shares of Federal Realty Investment Trust in the 4th quarter worth $30,000. Versant Capital Management Inc boosted its position 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 worth $28,000 after purchasing an additional 130 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new stake in shares of Federal Realty Investment Trust in the 1st quarter worth $30,000. Federated Hermes Inc. boosted its position in shares of Federal Realty Investment Trust by 143.9% in the 1st quarter. Federated Hermes Inc. now owns 339 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 200 shares in the last quarter. Finally, Dagco Inc. acquired a new stake in shares of Federal Realty Investment Trust in the 1st quarter worth $34,000. 93.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Mizuho lifted their price target on Federal Realty Investment Trust from $96.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday. JPMorgan Chase & Co. cut Federal Realty Investment Trust from an "overweight" rating to a "neutral" rating and set a $108.00 price target for the company. in a research report on Monday, June 23rd. 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 lowered their price target 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, August 8th. Finally, UBS Group lowered their price target on Federal Realty Investment Trust from $118.00 to $103.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Federal Realty Investment Trust presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.43.

Federal Realty Investment Trust Price Performance

NYSE:FRT traded down $0.2960 during trading hours on Wednesday, hitting $96.4040. 596,788 shares of the stock were exchanged, compared to its average volume of 979,506. Federal Realty Investment Trust has a 52-week low of $80.65 and a 52-week high of $118.34. The firm's fifty day moving average price is $94.41 and its 200 day moving average price is $96.63. 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 company has a market cap of $8.32 billion, a P/E ratio of 24.41, a P/E/G ratio of 3.70 and a beta of 1.14.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $1.91 EPS for the quarter, topping the consensus estimate of $1.73 by $0.18. The company had revenue of $302.48 million during the quarter, compared to analyst estimates of $309.25 million. Federal Realty Investment Trust had a return on equity of 11.19% and a net margin of 28.01%.Federal Realty Investment Trust's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.69 EPS. As a group, equities research analysts anticipate that Federal Realty Investment Trust will post 7.15 EPS for the current fiscal year.

Federal Realty Investment Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.7%. This is a boost from Federal Realty Investment Trust's previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, October 1st. Federal Realty Investment Trust's dividend payout ratio (DPR) is currently 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.