HighTower Advisors LLC Sells 4,340 Shares of Federal Realty Investment Trust $FRT

Key Points

• HighTower Advisors LLC has reduced its stake in Federal Realty Investment Trust by 12.0%, owning 31,860 shares after selling 4,340 shares in the first quarter.
• Federal Realty recently announced a dividend increase to $1.13 per share, up from $1.10, representing an annualized yield of 4.7%.
• Wall Street analysts have a consensus rating of Moderate Buy for Federal Realty, with a target price averaging $110.43 and substantial recent adjustments made by various brokerages.

HighTower Advisors LLC lessened its position in shares of Federal Realty Investment Trust (NYSE:FRT - Free Report) by 12.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,860 shares of the real estate investment trust's stock after selling 4,340 shares during the quarter. HighTower Advisors LLC's holdings in Federal Realty Investment Trust were worth $3,117,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of Federal Realty Investment Trust by 82.3% during the 1st quarter. Versant Capital Management Inc now owns 288 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 130 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Federal Realty Investment Trust by 18.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 845 shares of the real estate investment trust's stock worth $83,000 after purchasing an additional 130 shares in the last quarter. Ethic Inc. grew its holdings in shares of Federal Realty Investment Trust by 2.3% during the 4th quarter. Ethic Inc. now owns 6,426 shares of the real estate investment trust's stock worth $719,000 after purchasing an additional 145 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Federal Realty Investment Trust by 1.0% during the 1st quarter. Amalgamated Bank now owns 15,284 shares of the real estate investment trust's stock worth $1,495,000 after purchasing an additional 146 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Federal Realty Investment Trust by 5.6% during the 1st quarter. KBC Group NV now owns 2,844 shares of the real estate investment trust's stock worth $278,000 after purchasing an additional 151 shares in the last quarter. Institutional investors and hedge funds own 93.86% of the company's stock.

Federal Realty Investment Trust Price Performance

Shares of FRT stock traded up $1.58 during trading hours on Wednesday, hitting $100.34. 455,759 shares of the company's stock were exchanged, compared to its average volume of 965,574. The stock's 50-day moving average is $94.73 and its 200-day moving average is $96.26. 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 stock has a market cap of $8.66 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 3.77 and a beta of 1.14. Federal Realty Investment Trust has a 52 week low of $80.65 and a 52 week 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 EPS for the quarter, topping the consensus estimate of $1.73 by $0.18. The company had revenue of $302.48 million for the quarter, compared to analysts' expectations of $309.25 million. Federal Realty Investment Trust had a return on equity of 11.19% and a net margin of 28.01%.The business's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.69 earnings per share. As a group, research analysts forecast that Federal Realty Investment Trust will post 7.15 EPS for the current year.

Federal Realty Investment Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $1.13 per share. The ex-dividend date is Wednesday, October 1st. This is a boost from Federal Realty Investment Trust's previous quarterly dividend of $1.10. This represents a $4.52 annualized dividend and a dividend yield of 4.5%. Federal Realty Investment Trust's dividend payout ratio (DPR) is currently 111.39%.

Analysts Set New Price Targets

FRT has been the subject of several analyst reports. Evercore ISI cut their target price on Federal Realty Investment Trust from $109.00 to $107.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Wall Street Zen upgraded Federal Realty Investment Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. UBS Group cut their target price on Federal Realty Investment Trust from $118.00 to $103.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Wells Fargo & Company raised their target price on Federal Realty Investment Trust from $113.00 to $116.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Piper Sandler cut their target price on Federal Realty Investment Trust from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $110.71.

Federal Realty Investment Trust Company Profile

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.