Millennium Management LLC Cuts Stake in Federal Realty Investment Trust (NYSE:FRT)

Millennium Management LLC decreased its position in Federal Realty Investment Trust (NYSE:FRT - Free Report) by 53.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 142,050 shares of the real estate investment trust's stock after selling 166,237 shares during the quarter. Millennium Management LLC owned approximately 0.17% of Federal Realty Investment Trust worth $15,902,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. FIL Ltd lifted its holdings in 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 valued at $3,984,000 after acquiring an additional 95 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Federal Realty Investment Trust by 1.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,554 shares of the real estate investment trust's stock valued at $734,000 after acquiring an additional 110 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Federal Realty Investment Trust by 25.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 555 shares of the real estate investment trust's stock valued at $62,000 after acquiring an additional 111 shares during the period. Park Avenue Securities LLC lifted its holdings in Federal Realty Investment Trust by 2.7% in the fourth quarter. Park Avenue Securities LLC now owns 4,758 shares of the real estate investment trust's stock valued at $533,000 after acquiring an additional 125 shares during the period. Finally, Keybank National Association OH lifted its holdings in Federal Realty Investment Trust by 5.1% in the fourth quarter. Keybank National Association OH now owns 2,616 shares of the real estate investment trust's stock valued at $293,000 after acquiring an additional 128 shares during the period. Institutional investors own 93.86% of the company's stock.

Federal Realty Investment Trust Stock Performance

Shares of NYSE FRT traded up $2.58 during trading on Tuesday, hitting $95.14. The company had a trading volume of 818,696 shares, compared to its average volume of 689,956. The stock has a 50 day simple moving average of $94.02 and a 200 day simple moving average of $103.37. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.97 and a current ratio of 1.97. Federal Realty Investment Trust has a 12 month low of $80.65 and a 12 month high of $118.34. The firm has a market capitalization of $8.16 billion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 2.20 and a beta of 1.10.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last released its earnings results on Thursday, May 8th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.01. Federal Realty Investment Trust had a return on equity of 9.89% and a net margin of 24.38%. The firm had revenue of $302.29 million during the quarter, compared to analysts' expectations of $307.55 million. During the same quarter last year, the business posted $1.64 earnings per share. The firm's revenue was up 6.1% on a year-over-year basis. As a group, analysts anticipate that Federal Realty Investment Trust will post 7.15 earnings per share for the current year.

Federal Realty Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Tuesday, July 1st. Federal Realty Investment Trust's dividend payout ratio is currently 126.07%.

Analysts Set New Price Targets

A number of research analysts have weighed in on FRT shares. Mizuho lowered their target price on Federal Realty Investment Trust from $119.00 to $107.00 and set a "neutral" rating on the stock in a report on Tuesday, February 25th. Raymond James lowered their target price on Federal Realty Investment Trust from $117.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday. Truist Financial downgraded Federal Realty Investment Trust from a "buy" rating to a "hold" rating and lowered their target price for the company from $114.00 to $105.00 in a report on Thursday, March 13th. Piper Sandler decreased their price objective on Federal Realty Investment Trust from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, Wall Street Zen raised Federal Realty Investment Trust from a "sell" rating to a "hold" rating in a research note on Friday, February 21st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $113.64.

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.