Lecap Asset Management Ltd. Makes New $864,000 Investment in Federal Realty Investment Trust $FRT

Key Points

• Lecap Asset Management Ltd. invested approximately $864,000 in Federal Realty Investment Trust (NYSE:FRT) by acquiring 9,095 shares during the 2nd quarter.
• Federal Realty recently declared a quarterly dividend of $1.13 per share, raising its annualized dividend to $4.52 with a yield of 4.6%.
• The company reported earnings of $1.91 per share for the last quarter, exceeding expectations and reflecting a 5.2% year-over-year revenue growth.

Lecap Asset Management Ltd. purchased a new position in Federal Realty Investment Trust (NYSE:FRT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,095 shares of the real estate investment trust's stock, valued at approximately $864,000.

A number of other hedge funds also recently modified their holdings of FRT. Versant Capital Management Inc grew its position in shares of 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 valued at $28,000 after purchasing an additional 130 shares during the period. GKV Capital Management Co. Inc. bought a new position in Federal Realty Investment Trust in the first quarter valued at approximately $30,000. Federated Hermes Inc. boosted its holdings in shares of Federal Realty Investment Trust by 143.9% in the first quarter. Federated Hermes Inc. now owns 339 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 200 shares during the period. Dagco Inc. bought a new stake in shares of Federal Realty Investment Trust during the first quarter worth $34,000. Finally, CX Institutional bought a new stake in shares of Federal Realty Investment Trust during the first quarter worth $44,000. Institutional investors and hedge funds own 93.86% of the company's stock.

Federal Realty Investment Trust Price Performance

NYSE:FRT opened at $98.97 on Friday. Federal Realty Investment Trust has a 1-year low of $80.65 and a 1-year high of $118.09. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 1.42. The firm has a fifty day simple moving average of $97.51 and a 200 day simple moving average of $95.65. The stock has a market capitalization of $8.54 billion, a PE ratio of 25.05, a P/E/G ratio of 3.80 and a beta of 1.15.

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

Federal Realty Investment Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 4.6%. This is a boost from Federal Realty Investment Trust's previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, October 1st. Federal Realty Investment Trust's dividend payout ratio (DPR) is presently 114.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FRT shares. LADENBURG THALM/SH SH raised shares of Federal Realty Investment Trust to a "strong-buy" rating in a research note on Tuesday, September 9th. Scotiabank increased their price objective on Federal Realty Investment Trust from $113.00 to $114.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Evercore ISI lowered Federal Realty Investment Trust from an "outperform" rating to an "in-line" rating and lifted their target price for the company from $106.00 to $107.00 in a research report on Monday, September 15th. Mizuho upped their price target on Federal Realty Investment Trust from $96.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of Federal Realty Investment Trust from $108.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Federal Realty Investment Trust currently has a consensus rating of "Moderate Buy" and an average target price of $109.31.

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.

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