Federal Realty Investment Trust (NYSE:FRT) Shares Sold by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. reduced its stake in Federal Realty Investment Trust by 25.4% in the first quarter, holding 31,264 shares valued at approximately $3.06 million.
• The real estate investment trust has increased its quarterly dividend to $1.13 per share, representing a yield of 4.9%, up from the previous $1.10.
• Analyst ratings for Federal Realty Investment Trust show a consensus of Moderate Buy, with a target price averaging $110.14.

PNC Financial Services Group Inc. lessened its holdings in shares of Federal Realty Investment Trust (NYSE:FRT - Free Report) by 25.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,264 shares of the real estate investment trust's stock after selling 10,660 shares during the period. PNC Financial Services Group Inc.'s holdings in Federal Realty Investment Trust were worth $3,058,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FRT. Principal Financial Group Inc. increased its holdings in shares of Federal Realty Investment Trust by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 155,434 shares of the real estate investment trust's stock valued at $15,205,000 after purchasing an additional 917 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Federal Realty Investment Trust by 10.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,124 shares of the real estate investment trust's stock valued at $697,000 after buying an additional 674 shares in the last quarter. KBC Group NV increased its holdings in Federal Realty Investment Trust by 5.6% in the first quarter. KBC Group NV now owns 2,844 shares of the real estate investment trust's stock valued at $278,000 after buying an additional 151 shares in the last quarter. Amalgamated Bank lifted its position in shares of Federal Realty Investment Trust by 1.0% during 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 period. Finally, New York State Common Retirement Fund boosted its stake in shares of Federal Realty Investment Trust by 3.1% during the 1st quarter. New York State Common Retirement Fund now owns 60,214 shares of the real estate investment trust's stock worth $5,890,000 after acquiring an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 93.86% of the company's stock.

Analyst Ratings Changes

FRT has been the subject of several research reports. Barclays initiated coverage on Federal Realty Investment Trust in a report on Wednesday, July 2nd. They set an "overweight" rating and a $106.00 price objective for the company. Mizuho cut their price target on Federal Realty Investment Trust from $107.00 to $96.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Raymond James Financial lowered their price objective on shares of Federal Realty Investment Trust from $117.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, May 23rd. Piper Sandler dropped their target price on shares of 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. Finally, BMO Capital Markets restated an "outperform" rating and set a $110.00 target price on shares of Federal Realty Investment Trust in a research report on Monday, May 26th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Federal Realty Investment Trust has an average rating of "Moderate Buy" and a consensus target price of $110.14.

Federal Realty Investment Trust Trading Down 1.1%

FRT traded down $1.04 during trading on Friday, hitting $91.32. The company's stock had a trading volume of 1,020,558 shares, compared to its average volume of 849,377. The stock has a market cap of $7.88 billion, a PE ratio of 23.12, a PEG ratio of 3.65 and a beta of 1.14. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.14 and a quick ratio of 1.72. Federal Realty Investment Trust has a twelve month low of $80.65 and a twelve month high of $118.34. The firm's 50 day moving average price is $94.70 and its 200-day moving average price is $97.31.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $1.91 EPS 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 during the quarter, compared to the consensus estimate of $309.25 million. During the same quarter in the prior year, the company posted $1.69 EPS. The company's quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts expect that Federal Realty Investment Trust will post 7.15 earnings per share 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. Stockholders of record on Wednesday, October 1st will be paid a dividend of $1.13 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $4.52 annualized dividend and a dividend yield of 4.9%. This is a boost from Federal Realty Investment Trust's previous quarterly dividend of $1.10. Federal Realty Investment Trust's dividend payout ratio is presently 111.39%.

Federal Realty Investment Trust 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.