Mirae Asset Global Investments Co. Ltd. Buys New Position in Federal Realty Investment Trust $FRT

Key Points

• Mirae Asset Global Investments opened a new FRT position in the third quarter, buying 35,713 shares valued at approximately $3.87 million. Institutional investors collectively own 93.86% of the stock.
• Federal Realty reported quarterly EPS of $0.74, well below the $1.85 consensus estimate, while revenue of $339.02 million topped expectations and rose 5.2% year over year.
• The REIT declared a quarterly dividend of $1.16 per share, equivalent to a 4.1% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $124.88.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Federal Realty Investment Trust (NYSE:FRT - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 35,713 shares of the real estate investment trust's stock, valued at approximately $3,867,000.

Several other large investors have also bought and sold shares of FRT. North Dakota State Investment Board boosted its holdings in Federal Realty Investment Trust by 3.7% during the 3rd quarter. North Dakota State Investment Board now owns 2,623 shares of the real estate investment trust's stock worth $284,000 after acquiring an additional 93 shares during the last quarter. Pension & Wealth Management Advisors Inc. grew its stake in shares of Federal Realty Investment Trust by 12.4% in the 3rd quarter. Pension & Wealth Management Advisors Inc. now owns 1,045 shares of the real estate investment trust's stock worth $113,000 after acquiring an additional 115 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Federal Realty Investment Trust by 6.0% in the third quarter. Versant Capital Management Inc now owns 2,347 shares of the real estate investment trust's stock valued at $254,000 after purchasing an additional 132 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Federal Realty Investment Trust by 64.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 370 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 145 shares during the last quarter. Finally, Keybank National Association OH lifted its position in shares of Federal Realty Investment Trust by 6.8% during the first quarter. Keybank National Association OH now owns 2,561 shares of the real estate investment trust's stock valued at $272,000 after purchasing an additional 162 shares in the last quarter. 93.86% of the stock is currently owned by institutional investors.

Federal Realty Investment Trust Stock Performance

Shares of NYSE:FRT traded down $0.52 during midday trading on Friday, reaching $112.72. The company had a trading volume of 834,766 shares, compared to its average volume of 994,474. The company's 50 day moving average price is $110.52 and its 200 day moving average price is $113.18. The company has a current ratio of 1.53, a quick ratio of 1.70 and a debt-to-equity ratio of 1.55. The stock has a market cap of $9.70 billion, a P/E ratio of 22.54, a P/E/G ratio of 2.78 and a beta of 0.94. Federal Realty Investment Trust has a 52-week low of $95.14 and a 52-week high of $128.21.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last posted its quarterly earnings data on Friday, October 30th. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.85 by ($1.11). The company had revenue of $339.02 million for the quarter, compared to analysts' expectations of $336.57 million. Federal Realty Investment Trust had a return on equity of 13.76% and a net margin of 32.60%. The business's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.77 EPS. As a group, sell-side analysts anticipate that Federal Realty Investment Trust will post 7.56 EPS for the current fiscal year.

Federal Realty Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, January 4th will be paid a dividend of $1.16 per share. The ex-dividend date is Monday, January 4th. This represents a $4.64 annualized dividend and a dividend yield of 4.1%. Federal Realty Investment Trust's dividend payout ratio (DPR) is presently 92.80%.

Insider Activity at Federal Realty Investment Trust

In related news, Director Nicole Lamb-Hale sold 1,500 shares of Federal Realty Investment Trust stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $108.89, for a total value of $163,335.00. Following the sale, the director owned 4,613 shares of the company's stock, valued at approximately $502,309.57. The trade was a 24.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FRT. Piper Sandler boosted their price target on shares of Federal Realty Investment Trust from $131.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, November 2nd. UBS Group decreased their price objective on shares of Federal Realty Investment Trust from $127.00 to $115.00 and set a "neutral" rating for the company in a research note on Friday, October 9th. Truist Financial assumed coverage on shares of Federal Realty Investment Trust in a research report on Thursday, October 1st. They set a "hold" rating and a $116.00 target price on the stock. Mizuho cut their target price on Federal Realty Investment Trust from $130.00 to $117.00 and set an "outperform" rating on the stock in a research note on Thursday, September 24th. Finally, JPMorgan Chase & Co. upped their target price on Federal Realty Investment Trust from $124.00 to $129.00 and gave the company an "overweight" rating in a report on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $124.88.

Federal Realty Investment Trust Company Profile

Federal Realty Investment Trust is a self-administered and self-managed real estate investment trust that owns, operates and redevelops high-quality retail and mixed-use properties. Its portfolio includes shopping centers, street retail, and mixed-use developments that combine retail, residential, office and hospitality uses.

The company focuses on densely populated, affluent communities and prominent locations in major metropolitan markets. Its properties are concentrated in regions including the Northeast, Mid-Atlantic, California and South Florida, and are leased to a broad range of retailers, restaurants, service providers and other commercial tenants.

Founded in 1962, Federal Realty has developed and managed properties designed to serve both local communities and national retailers.

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