Allstate Corp Buys New Shares in Federal Realty Investment Trust $FRT

Key Points

• Allstate Corp acquired 11,202 shares of Federal Realty Investment Trust, totaling approximately $1,096,000 in value, during the first quarter.
• The company announced a quarterly dividend of $1.13 per share, scheduled for payment on October 15, increasing from the previous dividend of $1.10.
• Federal Realty Investment Trust reported an EPS of $1.91 for the last quarter, exceeding analyst expectations of $1.73, alongside a revenue of $302.48 million.

Allstate Corp bought a new stake in shares of Federal Realty Investment Trust (NYSE:FRT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 11,202 shares of the real estate investment trust's stock, valued at approximately $1,096,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc increased its holdings in shares of Federal Realty Investment Trust by 82.3% during the first 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 during the period. Exchange Traded Concepts LLC increased its holdings in shares of Federal Realty Investment Trust by 18.2% during the first quarter. Exchange Traded Concepts LLC now owns 845 shares of the real estate investment trust's stock worth $83,000 after purchasing an additional 130 shares during the period. Ethic Inc. increased its holdings in shares of Federal Realty Investment Trust by 2.3% during the fourth quarter. Ethic Inc. now owns 6,426 shares of the real estate investment trust's stock worth $719,000 after purchasing an additional 145 shares during the period. Amalgamated Bank increased its holdings in shares of 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 worth $1,495,000 after purchasing an additional 146 shares during the period. Finally, KBC Group NV increased its holdings in shares of Federal Realty Investment Trust by 5.6% during the first quarter. KBC Group NV now owns 2,844 shares of the real estate investment trust's stock worth $278,000 after purchasing an additional 151 shares during the period. Institutional investors own 93.86% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Federal Realty Investment Trust in a report on Thursday. Wells Fargo & Company raised their target price on shares of Federal Realty Investment Trust from $113.00 to $116.00 and gave the stock an "overweight" rating in a report on Wednesday. Mizuho raised their target price on shares of Federal Realty Investment Trust from $96.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. lifted their price objective on shares of Federal Realty Investment Trust from $108.00 to $110.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Evercore ISI decreased their price objective on shares of Federal Realty Investment Trust from $109.00 to $107.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Federal Realty Investment Trust presently has an average rating of "Moderate Buy" and a consensus target price of $110.79.

Federal Realty Investment Trust Price Performance

Federal Realty Investment Trust stock traded up $0.37 during mid-day trading on Friday, reaching $100.19. The company had a trading volume of 119,489 shares, compared to its average volume of 782,439. Federal Realty Investment Trust has a fifty-two week low of $80.65 and a fifty-two week 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 company has a market cap of $8.64 billion, a P/E ratio of 25.35, a P/E/G ratio of 3.83 and a beta of 1.14. The business has a fifty day simple moving average of $94.81 and a 200 day simple moving average of $96.19.

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

Federal Realty Investment Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.5%. 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 presently 111.39%.

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.