Davis Selected Advisers Cuts Stock Holdings in Federal Realty Investment Trust (NYSE:FRT)

Key Points

• Davis Selected Advisers reduced its stake in Federal Realty Investment Trust by 45.2% during the first quarter, now holding 32,930 shares valued at approximately $3.22 million.
• Several institutional investors, including Invesco Ltd. and Northern Trust Corp, significantly increased their holdings in Federal Realty Investment Trust, indicating a heightened interest in the stock.
• The company announced a quarterly dividend increase to $1.13 per share with an annual yield of 4.9%, reflecting its commitment to returning value to shareholders.

Davis Selected Advisers lessened its holdings in Federal Realty Investment Trust (NYSE:FRT - Free Report) by 45.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,930 shares of the real estate investment trust's stock after selling 27,140 shares during the quarter. Davis Selected Advisers' holdings in Federal Realty Investment Trust were worth $3,221,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in Federal Realty Investment Trust in the 4th quarter valued at approximately $30,000. Versant Capital Management Inc raised its holdings 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 during the last quarter. Federated Hermes Inc. raised its holdings in Federal Realty Investment Trust by 143.9% during 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 during the last quarter. CX Institutional bought a new position in Federal Realty Investment Trust during the 1st quarter worth approximately $44,000. Finally, Kapitalo Investimentos Ltda bought a new position in Federal Realty Investment Trust during the 4th quarter worth approximately $51,000. Institutional investors own 93.86% of the company's stock.

Federal Realty Investment Trust Trading Down 1.1%

Shares of FRT stock traded down $1.04 during trading hours on Friday, hitting $91.32. 1,020,558 shares of the company were exchanged, compared to its average volume of 849,377. The company has a 50 day simple moving average of $94.70 and a two-hundred day simple moving average of $97.31. 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 debt-to-equity ratio of 1.42, a quick ratio of 1.72 and a current ratio of 2.14. The firm has a market cap of $7.88 billion, a P/E ratio of 23.12, a P/E/G ratio of 3.65 and a beta of 1.14.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $302.48 million during the quarter, compared to the consensus estimate of $309.25 million. During the same quarter last year, the firm posted $1.69 EPS. Federal Realty Investment Trust's revenue was up 5.2% compared to the same quarter last year. Equities analysts anticipate that Federal Realty Investment Trust will post 7.15 EPS 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. Investors of record on Wednesday, October 1st will be given a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, October 1st. This is an increase from Federal Realty Investment Trust's previous quarterly dividend of $1.10. Federal Realty Investment Trust's payout ratio is 111.39%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. BMO Capital Markets restated an "outperform" rating and set a $110.00 price target on shares of Federal Realty Investment Trust in a report on Monday, May 26th. Piper Sandler lowered their price target on shares of Federal Realty Investment Trust from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. UBS Group lowered their price target on shares of Federal Realty Investment Trust from $118.00 to $103.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Scotiabank restated an "outperform" rating on shares of Federal Realty Investment Trust in a report on Wednesday, May 21st. Finally, Wall Street Zen upgraded shares of Federal Realty Investment Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $110.14.

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.