Federal Realty Investment Trust $FRT Stock Position Raised by Millennium Management LLC

Key Points

• Millennium Management LLC increased its stake in Federal Realty Investment Trust by 59.4%, owning 226,358 shares worth $22.14 million at the end of the latest quarter.
• Several brokerages have raised their target prices for Federal Realty Investment Trust, with Wells Fargo increasing it to $116.00, reflecting positive sentiment surrounding the stock's performance.
• Federal Realty Investment Trust announced a quarterly dividend increase to $1.13 per share, representing a 4.4% yield, highlighting the company's commitment to returning value to shareholders.

Millennium Management LLC raised its position in shares of Federal Realty Investment Trust (NYSE:FRT - Free Report) by 59.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 226,358 shares of the real estate investment trust's stock after buying an additional 84,308 shares during the quarter. Millennium Management LLC owned 0.26% of Federal Realty Investment Trust worth $22,142,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Versant Capital Management Inc grew its holdings in 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 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 during the last quarter. Amalgamated Bank increased its stake in shares of Federal Realty Investment Trust by 1.0% in the 1st quarter. Amalgamated Bank now owns 15,284 shares of the real estate investment trust's stock valued at $1,495,000 after acquiring an additional 146 shares during the last quarter. KBC Group NV increased its stake in shares of Federal Realty Investment Trust by 5.6% in the 1st quarter. KBC Group NV now owns 2,844 shares of the real estate investment trust's stock valued at $278,000 after acquiring an additional 151 shares during the last quarter. Finally, Gotham Asset Management LLC grew its position in shares of Federal Realty Investment Trust by 8.7% in the 4th quarter. Gotham Asset Management LLC now owns 2,108 shares of the real estate investment trust's stock valued at $236,000 after purchasing an additional 168 shares during the period. 93.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FRT shares. LADENBURG THALM/SH SH upgraded Federal Realty Investment Trust to a "strong-buy" rating in a research note on Tuesday, September 9th. Mizuho lifted their price target on Federal Realty Investment Trust from $96.00 to $100.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Wells Fargo & Company lifted their price objective on Federal Realty Investment Trust from $113.00 to $116.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. Wall Street Zen raised Federal Realty Investment Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Piper Sandler decreased their price objective on 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $109.31.

Federal Realty Investment Trust Stock Performance

Shares of FRT stock traded down $0.48 on Monday, reaching $101.17. The stock had a trading volume of 655,317 shares, compared to its average volume of 592,525. The company has a 50 day simple moving average of $96.21 and a 200 day simple moving average of $95.60. Federal Realty Investment Trust has a 1 year low of $80.65 and a 1 year high of $118.34. The company has a debt-to-equity ratio of 1.42, a quick ratio of 2.14 and a current ratio of 2.14. The stock has a market cap of $8.73 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 3.88 and a beta of 1.16.

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

Federal Realty Investment Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a $1.13 dividend. 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 yield of 4.5%. The ex-dividend date is Wednesday, October 1st. Federal Realty Investment Trust's payout ratio is currently 111.39%.

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.