PGGM Investments Buys 238,679 Shares of Federal Realty Investment Trust $FRT

Key Points

• PGGM Investments has increased its stake in Federal Realty Investment Trust by 23.7%, acquiring an additional 238,679 shares during the 2nd quarter, bringing its total to 1,245,342 shares.
• Federal Realty Investment Trust recently declared a quarterly dividend increase to $1.13 per share, with a yield of 4.5%, payable on October 15th.
• In its latest earnings report, Federal Realty Investment Trust reported $1.91 earnings per share, exceeding estimates, while revenue stood at $302.48 million, a 5.2% increase year-over-year.

PGGM Investments increased its stake in shares of Federal Realty Investment Trust (NYSE:FRT - Free Report) by 23.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,245,342 shares of the real estate investment trust's stock after acquiring an additional 238,679 shares during the quarter. Federal Realty Investment Trust makes up about 2.1% of PGGM Investments' portfolio, making the stock its 14th largest position. PGGM Investments owned approximately 1.45% of Federal Realty Investment Trust worth $118,295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in Federal Realty Investment Trust by 1.4% during the first 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 acquiring an additional 17,634 shares in the last quarter. Northern Trust Corp boosted its stake in Federal Realty Investment Trust by 3.6% during the first quarter. Northern Trust Corp now owns 1,279,688 shares of the real estate investment trust's stock worth $125,179,000 after acquiring an additional 44,935 shares in the last quarter. Centersquare Investment Management LLC boosted its stake in Federal Realty Investment Trust by 16.2% during the first quarter. Centersquare Investment Management LLC now owns 1,211,041 shares of the real estate investment trust's stock worth $118,464,000 after acquiring an additional 169,025 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Federal Realty Investment Trust by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,169,217 shares of the real estate investment trust's stock worth $114,370,000 after acquiring an additional 3,419 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its stake in Federal Realty Investment Trust by 8.2% during the first quarter. Westwood Holdings Group Inc. now owns 995,159 shares of the real estate investment trust's stock worth $97,346,000 after acquiring an additional 75,612 shares in the last quarter. 93.86% of the stock is owned by institutional investors.

Federal Realty Investment Trust Stock Up 1.4%

FRT opened at $101.35 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.14 and a quick ratio of 2.14. The company's 50-day moving average is $97.35 and its 200 day moving average is $95.62. Federal Realty Investment Trust has a fifty-two week low of $80.65 and a fifty-two week high of $118.09. The firm has a market capitalization of $8.74 billion, a P/E ratio of 25.66, a PEG ratio of 3.82 and a beta of 1.16.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last released its quarterly earnings results 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. Federal Realty Investment Trust had a net margin of 28.01% and a return on equity of 11.19%. The company had revenue of $302.48 million for the quarter, compared to analyst estimates of $309.25 million. During the same period last year, the firm earned $1.69 earnings per share. The firm's revenue was up 5.2% on a year-over-year basis. Research analysts expect that Federal Realty Investment Trust will post 7.15 earnings per share for the current fiscal year.

Federal Realty Investment Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Wednesday, October 1st. This is an increase from Federal Realty Investment Trust's previous quarterly dividend of $1.10. Federal Realty Investment Trust's dividend payout ratio (DPR) is 111.39%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Scotiabank increased their target price on shares of Federal Realty Investment Trust from $113.00 to $114.00 and gave the stock an "outperform" rating in a research note on Thursday, August 28th. Mizuho raised their price objective on shares of 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. Evercore ISI lowered shares of Federal Realty Investment Trust from an "outperform" rating to an "in-line" rating and raised their price objective for the company from $106.00 to $107.00 in a research note on Monday, September 15th. LADENBURG THALM/SH SH raised shares of Federal Realty Investment Trust to a "strong-buy" rating in a research note on Tuesday, September 9th. Finally, Wells Fargo & Company raised their price objective on shares of Federal Realty Investment Trust from $113.00 to $116.00 and gave the company an "overweight" rating in a research note on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Federal Realty Investment Trust has an average rating of "Moderate Buy" and a consensus 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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