Price T Rowe Associates Inc. MD Acquires 128,665 Shares of Federal Realty Investment Trust $FRT

Key Points

• Price T Rowe Associates Inc. MD increased its holdings in Federal Realty Investment Trust (NYSE:FRT) by 38.5%, owning 463,013 shares worth approximately $45 million after purchasing 128,665 additional shares.
• Federal Realty Investment Trust recently announced a quarterly dividend increase to $1.13, up from $1.10, with a yield of 4.5%, scheduled for payment on October 15th.
• The company reported earnings per share of $1.91 for the last quarter, exceeding analysts' expectations, but its revenue of $302.48 million fell short of estimates.

Price T Rowe Associates Inc. MD lifted its holdings in Federal Realty Investment Trust (NYSE:FRT - Free Report) by 38.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 463,013 shares of the real estate investment trust's stock after purchasing an additional 128,665 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.54% of Federal Realty Investment Trust worth $45,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. EntryPoint Capital LLC raised its stake in shares of Federal Realty Investment Trust by 67.4% in the first quarter. EntryPoint Capital LLC now owns 4,288 shares of the real estate investment trust's stock worth $419,000 after purchasing an additional 1,727 shares during the last quarter. Credit Agricole S A increased its position in Federal Realty Investment Trust by 8.8% during the first quarter. Credit Agricole S A now owns 19,236 shares of the real estate investment trust's stock valued at $1,882,000 after acquiring an additional 1,562 shares during the last quarter. Hsbc Holdings PLC increased its position in Federal Realty Investment Trust by 123.9% during the first quarter. Hsbc Holdings PLC now owns 746,159 shares of the real estate investment trust's stock valued at $72,634,000 after acquiring an additional 412,843 shares during the last quarter. Wellington Management Group LLP increased its position in Federal Realty Investment Trust by 30.2% during the first quarter. Wellington Management Group LLP now owns 2,349 shares of the real estate investment trust's stock valued at $230,000 after acquiring an additional 545 shares during the last quarter. Finally, Northern Trust Corp increased its position in Federal Realty Investment Trust by 3.6% during the first quarter. Northern Trust Corp now owns 1,279,688 shares of the real estate investment trust's stock valued at $125,179,000 after acquiring an additional 44,935 shares during the last quarter. Hedge funds and other institutional investors own 93.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FRT. JPMorgan Chase & Co. upped their price objective on Federal Realty Investment Trust from $108.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, August 27th. Evercore ISI reduced their price objective on Federal Realty Investment Trust from $109.00 to $107.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Barclays reduced their price objective on Federal Realty Investment Trust from $106.00 to $105.00 and set an "overweight" rating for the company in a research report on Wednesday, August 27th. Raymond James Financial reduced their price objective on Federal Realty Investment Trust from $117.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Finally, Piper Sandler reduced 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, May 23rd. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Federal Realty Investment Trust has an average rating of "Moderate Buy" and an average price target of $110.79.

Federal Realty Investment Trust Stock Performance

NYSE:FRT traded down $1.43 during mid-day trading on Tuesday, hitting $99.12. 882,027 shares of the company traded hands, compared to its average volume of 800,118. The stock's fifty day moving average price is $95.06 and its 200-day moving average price is $95.90. Federal Realty Investment Trust has a one year low of $80.65 and a one year high of $118.34. 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 has a market cap of $8.55 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 3.84 and a beta of 1.16.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last released 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. The business had revenue of $302.48 million during the quarter, compared to analyst estimates of $309.25 million. Federal Realty Investment Trust had a return on equity of 11.19% and a net margin of 28.01%.Federal Realty Investment Trust's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.69 earnings per share. Research analysts anticipate that Federal Realty Investment Trust will post 7.15 earnings per share for the current fiscal year.

Federal Realty Investment Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.6%. This is a positive change from Federal Realty Investment Trust's previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, October 1st. Federal Realty Investment Trust's dividend payout ratio 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.