Invesco Ltd. Trims Stock Position in Federal Realty Investment Trust (NYSE:FRT)

Key Points

• Invesco Ltd. has reduced its stake in Federal Realty Investment Trust by 13.8% during the first quarter, owning approximately 3.07% of the company after selling over 422,800 shares.
• Federal Realty Investment Trust announced a quarterly dividend increase to $1.13, reflecting an annualized yield of 4.9%, with the dividend to be paid on October 15th.
• Despite some analysts downgrading the stock, Federal Realty Investment Trust holds a consensus rating of "Moderate Buy" with a price target around $110.14.

Invesco Ltd. lowered its position in Federal Realty Investment Trust (NYSE:FRT - Free Report) by 13.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,630,600 shares of the real estate investment trust's stock after selling 422,843 shares during the period. Invesco Ltd. owned about 3.07% of Federal Realty Investment Trust worth $257,325,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in Federal Realty Investment Trust in the 4th quarter worth $30,000. Versant Capital Management Inc boosted its holdings in Federal Realty Investment Trust by 82.3% in the 1st quarter. Versant Capital Management Inc now owns 288 shares of the real estate investment trust's stock worth $28,000 after buying an additional 130 shares during the period. Federated Hermes Inc. boosted its holdings in Federal Realty Investment Trust by 143.9% in the 1st quarter. Federated Hermes Inc. now owns 339 shares of the real estate investment trust's stock worth $33,000 after buying an additional 200 shares during the period. CX Institutional bought a new position in Federal Realty Investment Trust in the 1st quarter worth $44,000. Finally, Kapitalo Investimentos Ltda bought a new position in Federal Realty Investment Trust in the 4th quarter worth $51,000. Institutional investors own 93.86% of the company's stock.

Federal Realty Investment Trust Price Performance

Shares of NYSE FRT traded up $0.13 during mid-day trading on Friday, hitting $93.86. 1,840,872 shares of the company's stock traded hands, compared to its average volume of 890,010. The company's 50-day moving average is $94.49 and its two-hundred day moving average is $96.82. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.14 and a quick ratio of 2.14. The company has a market capitalization of $8.10 billion, a P/E ratio of 23.76, a PEG ratio of 3.73 and a beta of 1.14. Federal Realty Investment Trust has a 1 year low of $80.65 and a 1 year high of $118.34.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.18. The firm had revenue of $302.48 million for the quarter, compared to analysts' expectations of $309.25 million. Federal Realty Investment Trust had a net margin of 28.01% and a return on equity of 11.19%. The business's revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.69 EPS. On average, equities analysts anticipate that Federal Realty Investment Trust will post 7.15 EPS for the current fiscal year.

Federal Realty Investment Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a $1.13 dividend. This is an increase from Federal Realty Investment Trust's previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $4.52 dividend on an annualized basis and a yield of 4.8%. Federal Realty Investment Trust's dividend payout ratio is currently 111.39%.

Wall Street Analyst Weigh In

Several research firms have commented on FRT. Evercore ISI dropped their price objective on shares of Federal Realty Investment Trust from $109.00 to $107.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Mizuho dropped their price objective 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. 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. UBS Group dropped their price objective on shares of Federal Realty Investment Trust from $118.00 to $103.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Finally, Barclays began coverage on shares of Federal Realty Investment Trust in a report on Wednesday, July 2nd. They set an "overweight" rating and a $106.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Federal Realty Investment Trust presently has an average rating of "Moderate Buy" and an average price target of $110.14.

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.