Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Holdings in Federal Realty Investment Trust (NYSE:FRT)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Federal Realty Investment Trust by 10.9%, selling 7,352 shares, and now holds 60,108 shares valued at approximately $5.88 million.
• Several institutional investors made significant changes to their holdings in Federal Realty Investment Trust, with Centersquare Investment Management increasing its stake by 935.8% during the 4th quarter.
• Federal Realty Investment Trust reported a quarterly EPS of $1.70, surpassing analysts' expectations, and announced a quarterly dividend of $1.10 per share, representing a yield of 4.8%.

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in shares of Federal Realty Investment Trust (NYSE:FRT - Free Report) by 10.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,108 shares of the real estate investment trust's stock after selling 7,352 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Federal Realty Investment Trust worth $5,880,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. FIL Ltd lifted its stake in shares of Federal Realty Investment Trust by 0.3% in the fourth quarter. FIL Ltd now owns 35,591 shares of the real estate investment trust's stock worth $3,984,000 after buying an additional 95 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Federal Realty Investment Trust by 82.3% during the first quarter. Versant Capital Management Inc now owns 288 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 130 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Federal Realty Investment Trust by 18.2% during the first quarter. Exchange Traded Concepts LLC now owns 845 shares of the real estate investment trust's stock valued at $83,000 after purchasing an additional 130 shares during the last quarter. Ethic Inc. raised its holdings in shares of Federal Realty Investment Trust by 2.3% during the fourth quarter. Ethic Inc. now owns 6,426 shares of the real estate investment trust's stock valued at $719,000 after purchasing an additional 145 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Federal Realty Investment Trust by 1.0% during the first quarter. Amalgamated Bank now owns 15,284 shares of the real estate investment trust's stock valued at $1,495,000 after purchasing an additional 146 shares during the last quarter. Institutional investors own 93.86% of the company's stock.

Analyst Upgrades and Downgrades

FRT has been the subject of several research reports. JPMorgan Chase & Co. cut shares of Federal Realty Investment Trust from an "overweight" rating to a "neutral" rating and set a $108.00 price objective for the company. in a report on Monday, June 23rd. Wall Street Zen raised shares of Federal Realty Investment Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Mizuho reduced their target price on shares of Federal Realty Investment Trust from $107.00 to $96.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Piper Sandler reduced their target price on shares of Federal Realty Investment Trust from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $110.00 target price on shares of Federal Realty Investment Trust in a report on Monday, May 26th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Federal Realty Investment Trust currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.29.

Federal Realty Investment Trust Trading Up 1.7%

Shares of Federal Realty Investment Trust stock traded up $1.60 during trading on Tuesday, hitting $93.14. The stock had a trading volume of 370,935 shares, compared to its average volume of 777,223. The stock has a market cap of $7.99 billion, a PE ratio of 26.70, a PEG ratio of 3.62 and a beta of 1.14. Federal Realty Investment Trust has a 12 month low of $80.65 and a 12 month high of $118.34. The firm's fifty day simple moving average is $94.92 and its 200-day simple moving average is $97.61. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.72 and a quick ratio of 1.72.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last posted its earnings results on Thursday, May 8th. The real estate investment trust reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.01. Federal Realty Investment Trust had a net margin of 24.77% and a return on equity of 9.97%. The business had revenue of $302.29 million for the quarter, compared to the consensus estimate of $307.55 million. During the same quarter last year, the firm posted $1.64 EPS. The company's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts expect that Federal Realty Investment Trust will post 7.15 EPS for the current fiscal year.

Federal Realty Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a $1.10 dividend. The ex-dividend date was Tuesday, July 1st. This represents a $4.40 dividend on an annualized basis and a yield of 4.7%. Federal Realty Investment Trust's dividend payout ratio (DPR) is 126.07%.

About Federal Realty Investment Trust

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.