Mizuho Markets Americas LLC Cuts Position in Federal Realty Investment Trust (NYSE:FRT)

Key Points

• Mizuho Markets Americas LLC has reduced its stake in Federal Realty Investment Trust by 25.8%, selling 43,462 shares and now holding 124,930 shares valued at approximately $12.2 million.
• Federal Realty Investment Trust recently announced a quarterly dividend increase to $1.13 per share, yielding 4.9%, payable on October 15th.
• Despite a quarterly revenue of $302.48 million exceeding the previous year's figure by 5.2%, it fell short of analysts' estimates of $309.25 million.

Mizuho Markets Americas LLC trimmed its holdings in Federal Realty Investment Trust (NYSE:FRT - Free Report) by 25.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 124,930 shares of the real estate investment trust's stock after selling 43,462 shares during the quarter. Mizuho Markets Americas LLC owned approximately 0.15% of Federal Realty Investment Trust worth $12,221,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. National Bank of Canada FI increased its holdings in Federal Realty Investment Trust by 34.2% during the 1st quarter. National Bank of Canada FI now owns 49,792 shares of the real estate investment trust's stock worth $4,871,000 after purchasing an additional 12,683 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Federal Realty Investment Trust by 14.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 180,490 shares of the real estate investment trust's stock worth $17,656,000 after purchasing an additional 22,270 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Federal Realty Investment Trust by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,302,823 shares of the real estate investment trust's stock worth $127,442,000 after purchasing an additional 17,634 shares during the period. Strategy Asset Managers LLC increased its holdings in Federal Realty Investment Trust by 8.8% during the 1st quarter. Strategy Asset Managers LLC now owns 3,708 shares of the real estate investment trust's stock worth $363,000 after purchasing an additional 301 shares during the period. Finally, Centersquare Investment Management LLC increased its holdings in Federal Realty Investment Trust by 16.2% during the 1st quarter. Centersquare Investment Management LLC now owns 1,211,041 shares of the real estate investment trust's stock worth $118,464,000 after purchasing an additional 169,025 shares during the period. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Federal Realty Investment Trust Stock Performance

FRT stock traded down $0.78 during midday trading on Thursday, reaching $93.80. The stock had a trading volume of 385,974 shares, compared to its average volume of 787,012. The firm has a fifty day simple moving average of $94.56 and a two-hundred day simple moving average of $97.10. The stock has a market cap of $8.09 billion, a PE ratio of 23.74, a P/E/G ratio of 3.69 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. The company has a debt-to-equity ratio of 1.42, a quick ratio of 2.14 and a current ratio of 2.14.

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

Federal Realty Investment Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be paid a $1.13 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $4.52 annualized dividend and a dividend yield of 4.8%. This is a boost from Federal Realty Investment Trust's previous quarterly dividend of $1.10. Federal Realty Investment Trust's dividend payout ratio (DPR) is presently 111.39%.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays assumed coverage on Federal Realty Investment Trust in a report on Wednesday, July 2nd. They set an "overweight" rating and a $106.00 price objective on the stock. Evercore ISI reduced their price objective on Federal Realty Investment Trust from $109.00 to $107.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Raymond James Financial reduced their price objective on Federal Realty Investment Trust from $117.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. JPMorgan Chase & Co. cut Federal Realty Investment Trust from an "overweight" rating to a "neutral" rating and set a $108.00 target price on the stock. in a research report on Monday, June 23rd. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Federal Realty Investment Trust in a research report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $110.14.

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.