Federal Realty Investment Trust $FRT Stake Reduced by Argonautica Private Wealth Management Inc.

Key Points

• Argonautica Private Wealth Management cut its Federal Realty Investment Trust stake by 92% in the third quarter, selling 30,902 shares and ending the period with 2,675 shares worth about $290,000.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $124.88. Recent target changes were mixed, with several firms lowering targets while Citigroup raised its target.
• 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 declared a quarterly dividend of $1.16 per share, equivalent to a 4.1% yield at the article’s cited share price.

Argonautica Private Wealth Management Inc. decreased its stake in Federal Realty Investment Trust (NYSE:FRT - Free Report) by 92.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,675 shares of the real estate investment trust's stock after selling 30,902 shares during the period. Argonautica Private Wealth Management Inc.'s holdings in Federal Realty Investment Trust were worth $290,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Resolution Capital Ltd grew its holdings in Federal Realty Investment Trust by 10.3% in the 1st quarter. Resolution Capital Ltd now owns 3,644,575 shares of the real estate investment trust's stock worth $387,090,000 after acquiring an additional 340,524 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Federal Realty Investment Trust by 4.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,284,001 shares of the real estate investment trust's stock valued at $136,368,000 after acquiring an additional 53,109 shares during the period. Bank of America Corp DE boosted its position in shares of Federal Realty Investment Trust by 90.2% in the 1st quarter. Bank of America Corp DE now owns 509,498 shares of the real estate investment trust's stock worth $54,114,000 after purchasing an additional 241,684 shares in the last quarter. Wellington Management Group LLP bought a new stake in Federal Realty Investment Trust in the second quarter worth $59,832,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Federal Realty Investment Trust by 0.6% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 438,553 shares of the real estate investment trust's stock worth $46,579,000 after purchasing an additional 2,535 shares in the last quarter. Hedge funds and other institutional investors own 93.86% of the company's stock.

Insider Activity

In other news, Director Nicole Lamb-Hale sold 1,500 shares of the business's 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 sale, the director owned 4,613 shares in the company, valued at approximately $502,309.57. The trade was a 24.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wells Fargo & Company cut their target price on shares of Federal Realty Investment Trust from $126.00 to $119.00 and set an "overweight" rating for the company in a research report on Friday, October 23rd. Citigroup lifted their price target on shares of Federal Realty Investment Trust from $120.00 to $130.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Weiss Ratings lowered Federal Realty Investment Trust from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, September 1st. Mizuho cut their target price on shares of Federal Realty Investment Trust from $130.00 to $117.00 and set an "outperform" rating for the company in a research note on Thursday, September 24th. Finally, UBS Group decreased their price objective on Federal Realty Investment Trust from $127.00 to $115.00 and set a "neutral" rating on the stock in a report on Friday, October 9th. One equities research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $124.88.

Federal Realty Investment Trust Trading Down 0.9%

Shares of NYSE FRT opened at $113.55 on Friday. Federal Realty Investment Trust has a fifty-two week low of $95.00 and a fifty-two week high of $128.21. 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 company has a market cap of $9.77 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 2.86 and a beta of 0.94. The business's 50 day moving average price is $110.61 and its 200-day moving average price is $113.13.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last released its earnings results on Friday, October 30th. The real estate investment trust reported $0.74 earnings per share for the quarter, missing the consensus estimate of $1.85 by ($1.11). The business had revenue of $339.02 million for the quarter, compared to the consensus estimate of $336.57 million. Federal Realty Investment Trust had a return on equity of 13.76% and a net margin of 32.60%. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.77 earnings per share. On average, sell-side analysts expect that Federal Realty Investment Trust will post 7.56 earnings per share for the current year.

Federal Realty Investment Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, January 4th will be given a dividend of $1.16 per share. 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 presently 92.80%.

Federal Realty Investment Trust Profile

Federal Realty Investment Trust is a self-administered and self-managed real estate investment trust that owns, operates and redevelops high-quality retail and mixed-use properties. Its portfolio includes shopping centers, street retail, and mixed-use developments that combine retail, residential, office and hospitality uses.

The company focuses on densely populated, affluent communities and prominent locations in major metropolitan markets. Its properties are concentrated in regions including the Northeast, Mid-Atlantic, California and South Florida, and are leased to a broad range of retailers, restaurants, service providers and other commercial tenants.

Founded in 1962, Federal Realty has developed and managed properties designed to serve both local communities and national retailers.

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