11,202 Shares in Federal Realty Investment Trust $FRT Bought by Allstate Corp

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 purchased a new position in shares of Federal Realty Investment Trust (NYSE:FRT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,202 shares of the real estate investment trust's stock, valued at approximately $1,096,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Versant Capital Management Inc increased its position in 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 purchasing an additional 130 shares in the last quarter. Exchange Traded Concepts LLC increased its position 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 purchasing an additional 130 shares in the last quarter. Ethic Inc. increased its position in Federal Realty Investment Trust by 2.3% during the 4th 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 in the last quarter. Amalgamated Bank increased its position in Federal Realty Investment Trust by 1.0% during the 1st 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 in the last quarter. Finally, KBC Group NV increased its position in 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 purchasing an additional 151 shares in the last quarter. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FRT shares. Barclays started coverage on shares of Federal Realty Investment Trust in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $106.00 target price for the company. Mizuho increased 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 research report on Wednesday, August 20th. 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 objective on shares of 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. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $110.00 price objective on shares of Federal Realty Investment Trust in a research report on Monday, May 26th. Eight 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 has an average rating of "Moderate Buy" and an average price target of $110.43.

Federal Realty Investment Trust Stock Down 0.3%

Shares of Federal Realty Investment Trust stock traded down $0.28 on Tuesday, hitting $98.87. 594,201 shares of the company's stock traded hands, compared to its average volume of 975,845. The stock has a market cap of $8.53 billion, a P/E ratio of 25.03, a PEG ratio of 3.79 and a beta of 1.14. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 1.42. The firm's 50-day moving average is $94.63 and its 200 day moving average is $96.23. Federal Realty Investment Trust has a 52-week low of $80.65 and a 52-week high of $118.34.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last released its earnings results 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. The company had revenue of $302.48 million during 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 business's revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.69 EPS. Equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $1.13 per share. This is an increase from Federal Realty Investment Trust's previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, October 1st. This represents a $4.52 annualized dividend and a dividend yield of 4.6%. Federal Realty Investment Trust's dividend payout ratio (DPR) is currently 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.