Federal Realty Investment Trust $FRT Stake Lowered by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP decreased its stake in Federal Realty Investment Trust by 7.0%, selling 3,179 shares and now holding 42,304 shares valued at approximately $4.14 million.
• Federal Realty Investment Trust's stock increased by 1.0%, and the company recently reported EPS of $1.91 for the last quarter, exceeding estimates of $1.73.
• The company has announced a quarterly dividend of $1.13 per share, marking an increase from the previous dividend of $1.10, with a resulting annualized yield of 4.5%.

Cinctive Capital Management LP lessened its stake in shares of Federal Realty Investment Trust (NYSE:FRT - Free Report) by 7.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 42,304 shares of the real estate investment trust's stock after selling 3,179 shares during the quarter. Cinctive Capital Management LP's holdings in Federal Realty Investment Trust were worth $4,138,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Nuveen LLC bought a new position in shares of Federal Realty Investment Trust in the 1st quarter valued at $52,017,000. Hsbc Holdings PLC increased its position in Federal Realty Investment Trust by 123.9% in the 1st quarter. Hsbc Holdings PLC now owns 746,159 shares of the real estate investment trust's stock valued at $72,634,000 after buying an additional 412,843 shares in the last quarter. Resolution Capital Ltd raised its holdings in Federal Realty Investment Trust by 12.4% during the fourth quarter. Resolution Capital Ltd now owns 3,523,155 shares of the real estate investment trust's stock worth $394,417,000 after buying an additional 389,266 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Federal Realty Investment Trust by 62.6% during the fourth quarter. Nuveen Asset Management LLC now owns 683,114 shares of the real estate investment trust's stock valued at $76,475,000 after buying an additional 263,020 shares during the last quarter. Finally, APG Asset Management US Inc. raised its holdings in shares of Federal Realty Investment Trust by 111.4% in the first quarter. APG Asset Management US Inc. now owns 382,214 shares of the real estate investment trust's stock valued at $37,071,000 after purchasing an additional 201,390 shares during the last quarter. Institutional investors own 93.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FRT shares. JPMorgan Chase & Co. lifted their price target on Federal Realty Investment Trust from $108.00 to $110.00 and gave the stock a "neutral" rating in a report on Wednesday, August 27th. BMO Capital Markets restated an "outperform" rating and issued a $110.00 price objective on shares of Federal Realty Investment Trust in a research note on Monday, May 26th. Evercore ISI dropped their target price 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. Mizuho upped their target price on Federal Realty Investment Trust from $96.00 to $100.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Finally, Piper Sandler reduced their target price on Federal Realty Investment Trust from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $110.79.

Federal Realty Investment Trust Price Performance

NYSE:FRT traded down $1.03 on Tuesday, reaching $100.72. 160,270 shares of the company's stock traded hands, compared to its average volume of 779,320. The firm has a market cap of $8.69 billion, a PE ratio of 25.52, 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 stock has a 50-day simple moving average of $95.60 and a 200-day simple moving average of $95.74. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 1.42.

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 for the quarter, topping 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 company had revenue of $302.48 million during the quarter, compared to analyst estimates of $309.25 million. During the same period in the prior year, the firm earned $1.69 earnings per share. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts forecast 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 $1.13 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $4.52 annualized dividend and a dividend yield of 4.5%. This is an increase from Federal Realty Investment Trust's previous quarterly dividend of $1.10. Federal Realty Investment Trust's payout ratio is 114.43%.

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.