Federal Realty Investment Trust $FRT Shares Sold by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System cut its stake in Federal Realty Investment Trust by 5.7% in the first quarter, selling 10,922 shares and leaving it with 180,719 shares valued at about $19.2 million.
• Wall Street sentiment is mixed to positive: several analysts raised price targets, and the stock now carries a Moderate Buy consensus with an average target price of $127.62.
• Federal Realty recently paid a quarterly dividend of $1.13 per share, equal to an annualized yield of 3.6%, while shares were trading near $124.71 and close to their 52-week high.

California Public Employees Retirement System decreased its position in Federal Realty Investment Trust (NYSE:FRT - Free Report) by 5.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 180,719 shares of the real estate investment trust's stock after selling 10,922 shares during the period. California Public Employees Retirement System owned about 0.21% of Federal Realty Investment Trust worth $19,194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FRT. Park Square Financial Group LLC purchased a new stake in Federal Realty Investment Trust in the 4th quarter worth $25,000. Turning Point Benefit Group Inc. raised its position in Federal Realty Investment Trust by 1,853.8% during the fourth quarter. Turning Point Benefit Group Inc. now owns 254 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 241 shares during the period. Private Trust Co. NA lifted its holdings in Federal Realty Investment Trust by 937.5% during the fourth quarter. Private Trust Co. NA now owns 332 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 300 shares in the last quarter. Advisory Services Network LLC purchased a new position in Federal Realty Investment Trust during the third quarter valued at $35,000. Finally, SJS Investment Consulting Inc. grew its position in shares of Federal Realty Investment Trust by 72.4% in the first quarter. SJS Investment Consulting Inc. now owns 362 shares of the real estate investment trust's stock valued at $38,000 after purchasing an additional 152 shares during the period. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. UBS Group upped their price target on shares of Federal Realty Investment Trust from $118.00 to $127.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Evercore set a $122.00 price objective on Federal Realty Investment Trust in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft upgraded Federal Realty Investment Trust from a "hold" rating to a "buy" rating and set a $135.00 price objective for the company in a research note on Friday, May 29th. Wells Fargo & Company increased their target price on Federal Realty Investment Trust from $129.00 to $134.00 and gave the company an "overweight" rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Federal Realty Investment Trust from $115.00 to $124.00 and gave the company an "overweight" rating in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $127.62.

Federal Realty Investment Trust Price Performance

Shares of NYSE FRT opened at $124.71 on Friday. The firm has a 50-day simple moving average of $121.71 and a 200-day simple moving average of $112.00. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 2.97 and a beta of 0.93. Federal Realty Investment Trust has a 52 week low of $89.99 and a 52 week high of $126.86.

Federal Realty Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $1.13 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $4.52 dividend on an annualized basis and a yield of 3.6%. Federal Realty Investment Trust's dividend payout ratio is presently 78.47%.

Federal Realty Investment Trust Profile

Federal Realty Investment Trust NYSE: FRT is a real estate investment trust specializing in the ownership, management, and redevelopment of high-quality retail, restaurant, and mixed-use properties. With a strategic focus on open-air shopping centers and lifestyle-oriented urban destinations, the company partners with leading national and regional retailers to curate environments that blend shopping, dining, entertainment, office, and residential uses. Its asset management capabilities extend from initial site selection and development through ongoing property operations and tenant relations.

Federal Realty's portfolio comprises approximately 100 properties totaling more than 25 million square feet of gross leasable area.

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