Federal Realty Investment Trust $FRT Stock Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Federal Realty Investment Trust stake by 10.7% in the third quarter, selling 13,953 shares; it held 116,675 shares worth about $12.6 million at quarter-end.
• Federal Realty reported quarterly EPS of $0.74, below the $1.85 consensus estimate, although revenue rose 5.2% year over year to $339 million. The trust declared a $1.16 quarterly dividend, equivalent to a 4.1% yield.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $124.88; shares opened at $113.55.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Federal Realty Investment Trust (NYSE:FRT - Free Report) by 10.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,675 shares of the real estate investment trust's stock after selling 13,953 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.14% of Federal Realty Investment Trust worth $12,635,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in Federal Realty Investment Trust during the third quarter worth approximately $40,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Federal Realty Investment Trust by 64.4% in the 2nd 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 during the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of Federal Realty Investment Trust in the 2nd quarter valued at approximately $123,000. Pension & Wealth Management Advisors Inc. lifted its stake in shares of Federal Realty Investment Trust by 12.4% in the 3rd 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 during the last quarter. Finally, Pflug Koory LLC boosted its holdings in shares of Federal Realty Investment Trust by 122.9% in the 3rd 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. Hedge funds and other institutional investors own 93.86% of the company's stock.

Federal Realty Investment Trust Stock Down 0.9%

Shares of NYSE FRT opened at $113.55 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.53 and a quick ratio of 1.70. The company has a market cap of $9.77 billion, a P/E ratio of 22.71, a PEG ratio of 2.86 and a beta of 0.94. Federal Realty Investment Trust has a 1 year low of $95.00 and a 1 year high of $128.21. The firm has a 50-day simple moving average of $110.61 and a two-hundred day simple moving average of $113.13.

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

Federal Realty Investment Trust Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FRT shares. Barclays cut their target price on Federal Realty Investment Trust from $123.00 to $118.00 and set an "equal weight" rating on the stock in a research report on Monday, September 28th. Truist Financial initiated coverage on Federal Realty Investment Trust in a report on Thursday, October 1st. They set a "hold" rating and a $116.00 price target on the stock. Wall Street Zen downgraded Federal Realty Investment Trust from a "hold" rating to a "sell" rating in a research report on Saturday, October 31st. Wells Fargo & Company dropped their price objective on shares of Federal Realty Investment Trust from $126.00 to $119.00 and set an "overweight" rating for the company in a research note on Friday, October 23rd. Finally, UBS Group dropped their price objective on shares of Federal Realty Investment Trust from $127.00 to $115.00 and set a "neutral" rating for the company in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $124.88.

Insider Buying and Selling

In other Federal Realty Investment Trust news, Director Nicole Lamb-Hale sold 1,500 shares of the stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $108.89, for a total value of $163,335.00. Following the sale, the director owned 4,613 shares in the company, valued at $502,309.57. This trade represents a 24.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by company insiders.

About Federal Realty Investment Trust

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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