Federal Realty Investment Trust $FRT Shares Purchased by Private Management Group Inc.

Key Points

• Private Management Group increased its Federal Realty stake by 4.7% in the third quarter, adding 12,824 shares to reach 287,520 shares, valued at about $31.1 million.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $124.31. Recent target changes were mixed, including Piper Sandler raising its target to $135 and Citigroup lowering its target to $121.
• Federal Realty reported quarterly EPS of $0.74, below the $1.85 consensus, while revenue of $339.02 million topped estimates and rose 5.2% year over year. It announced a quarterly dividend of $1.16 per share, equivalent to a 4.1% yield at the article’s quoted share price.

Private Management Group Inc. boosted its stake in shares of Federal Realty Investment Trust (NYSE:FRT - Free Report) by 4.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 287,520 shares of the real estate investment trust's stock after acquiring an additional 12,824 shares during the period. Private Management Group Inc. owned 0.33% of Federal Realty Investment Trust worth $31,136,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FRT. Root Financial Partners LLC acquired a new stake in shares of Federal Realty Investment Trust during the 3rd quarter worth $40,000. MassMutual Private Wealth & Trust FSB raised its stake in Federal Realty Investment Trust by 64.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 370 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 145 shares in the last quarter. Pension & Wealth Management Advisors Inc. raised its stake in Federal Realty Investment Trust by 12.4% in the third quarter. Pension & Wealth Management Advisors Inc. now owns 1,045 shares of the real estate investment trust's stock valued at $113,000 after purchasing an additional 115 shares in the last quarter. Pflug Koory LLC lifted its position in Federal Realty Investment Trust by 122.9% during the third quarter. Pflug Koory LLC now owns 1,059 shares of the real estate investment trust's stock worth $115,000 after purchasing an additional 584 shares during the period. Finally, Harbor Investment Advisory LLC bought a new stake in Federal Realty Investment Trust during the second quarter worth about $123,000. 93.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on FRT. Piper Sandler increased their price objective on shares of Federal Realty Investment Trust from $131.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, November 2nd. Wall Street Zen upgraded shares of Federal Realty Investment Trust from a "sell" rating to a "hold" rating in a research report on Sunday. Scotiabank dropped their target price on shares of Federal Realty Investment Trust from $128.00 to $126.00 and set a "sector outperform" rating for the company in a research report on Thursday, September 17th. Citigroup cut their price target on shares of Federal Realty Investment Trust from $130.00 to $121.00 and set a "neutral" rating for the company in a report on Monday. Finally, Evercore set a $123.00 price target on shares of Federal Realty Investment Trust in a research report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $124.31.

Insider Activity at Federal Realty Investment Trust

In other news, Director Nicole Lamb-Hale sold 1,500 shares of the stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $108.89, for a total value of $163,335.00. Following the completion of the transaction, the director owned 4,613 shares of the company's stock, valued at approximately $502,309.57. This represents a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company's stock.

Federal Realty Investment Trust Trading Up 1.1%

Shares of FRT opened at $113.78 on Tuesday. Federal Realty Investment Trust has a 52-week low of $95.14 and a 52-week high of $128.21. The business's fifty day moving average is $110.46 and its 200-day moving average is $113.24. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.70 and a current ratio of 1.53. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 2.86 and a beta of 0.94.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last posted its quarterly earnings results on Friday, October 30th. The real estate investment trust reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $1.85 by ($1.11). Federal Realty Investment Trust had a return on equity of 13.76% and a net margin of 32.60%. The business had revenue of $339.02 million for the quarter, compared to analyst estimates of $336.57 million. During the same period last year, the firm posted $1.77 EPS. Federal Realty Investment Trust's quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts anticipate that Federal Realty Investment Trust will post 7.56 EPS for the current fiscal year.

Federal Realty Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, January 4th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Monday, January 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 4.1%. Federal Realty Investment Trust's dividend payout ratio is 92.80%.

Federal Realty Investment Trust Profile

Federal Realty Investment Trust is a real estate investment trust that owns, operates, and redevelops retail and mixed-use properties. Its portfolio includes shopping centers and destination-style properties that combine retail, restaurants, entertainment, and, in some locations, residential and office space.

The company focuses on established, densely populated communities, primarily in the Northeast, Mid-Atlantic, California, and South Florida. Its properties serve shoppers, residents, and businesses through a mix of national and local retailers, dining options, and other services.

Founded in 1962, Federal Realty has developed and operated properties such as Santana Row in San Jose, California, and Pike & Rose in North Bethesda, Maryland.

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