Federal Realty Investment Trust (NYSE:FRT) Stake Lessened by Bank of America Corp DE

Bank of America Corp DE reduced its stake in Federal Realty Investment Trust (NYSE:FRT - Free Report) by 14.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 204,170 shares of the real estate investment trust's stock after selling 35,162 shares during the quarter. Bank of America Corp DE owned 0.25% of Federal Realty Investment Trust worth $22,857,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Federal Realty Investment Trust by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 13,041,061 shares of the real estate investment trust's stock valued at $1,459,947,000 after buying an additional 218,671 shares during the period. Norges Bank acquired a new stake in shares of Federal Realty Investment Trust in the 4th quarter valued at approximately $810,544,000. JPMorgan Chase & Co. lifted its holdings in shares of Federal Realty Investment Trust by 3.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,885,992 shares of the real estate investment trust's stock valued at $561,743,000 after buying an additional 168,885 shares during the period. Invesco Ltd. lifted its holdings in shares of Federal Realty Investment Trust by 41.4% in the 4th quarter. Invesco Ltd. now owns 3,053,443 shares of the real estate investment trust's stock valued at $341,833,000 after buying an additional 893,258 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Federal Realty Investment Trust by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 2,033,880 shares of the real estate investment trust's stock valued at $227,457,000 after buying an additional 77,783 shares during the period. 93.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FRT has been the subject of several research reports. Mizuho reduced their price objective on Federal Realty Investment Trust from $119.00 to $107.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Scotiabank reaffirmed an "outperform" rating on shares of Federal Realty Investment Trust in a research report on Wednesday. Wall Street Zen raised Federal Realty Investment Trust from a "sell" rating to a "hold" rating in a research report on Friday, February 21st. Piper Sandler lowered their price objective on Federal Realty Investment Trust from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Truist Financial downgraded Federal Realty Investment Trust from a "buy" rating to a "hold" rating and lowered their price target for the company from $114.00 to $105.00 in a research report on Thursday, March 13th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Federal Realty Investment Trust presently has an average rating of "Moderate Buy" and a consensus target price of $113.64.

Federal Realty Investment Trust Stock Down 1.2%

Shares of NYSE:FRT traded down $1.09 during trading on Friday, hitting $92.57. The company's stock had a trading volume of 624,068 shares, compared to its average volume of 689,439. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.97 and a current ratio of 1.97. Federal Realty Investment Trust has a fifty-two week low of $80.65 and a fifty-two week high of $118.34. The stock's 50-day moving average price is $94.17 and its two-hundred day moving average price is $103.65. The company has a market capitalization of $7.94 billion, a PE ratio of 26.99, a PEG ratio of 2.20 and a beta of 1.10.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.01. Federal Realty Investment Trust had a return on equity of 9.89% and a net margin of 24.38%. The firm had revenue of $302.29 million for the quarter, compared to analysts' expectations of $307.55 million. During the same quarter in the prior year, the firm posted $1.64 earnings per share. Federal Realty Investment Trust's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts expect that Federal Realty Investment Trust will post 7.15 EPS for the current year.

Federal Realty Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Tuesday, July 1st. Federal Realty Investment Trust's dividend payout ratio (DPR) is 126.07%.

Federal Realty Investment Trust Company 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.