Principal Financial Group Inc. Trims Position in Federal Realty Investment Trust $FRT

Key Points

• Principal Financial Group cut its stake in Federal Realty Investment Trust by 20.7% in the first quarter, selling 32,523 shares and ending with 124,272 shares worth about $13.2 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 93.86% of the company. Several large firms, including Norges Bank and State Street, also recently adjusted their positions.
• Analysts are broadly positive on FRT, with a Moderate Buy consensus and a price target of $127.62. The stock recently traded near its 52-week high, and the company paid a quarterly dividend of $1.13 per share, equal to a 3.6% annualized yield.

Principal Financial Group Inc. trimmed its position in shares of Federal Realty Investment Trust (NYSE:FRT - Free Report) by 20.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,272 shares of the real estate investment trust's stock after selling 32,523 shares during the period. Principal Financial Group Inc. owned 0.14% of Federal Realty Investment Trust worth $13,199,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Federal Realty Investment Trust in the 4th quarter worth $734,290,000. State Street Corp lifted its position in shares of Federal Realty Investment Trust by 1.4% in the third quarter. State Street Corp now owns 6,668,743 shares of the real estate investment trust's stock valued at $675,610,000 after acquiring an additional 90,127 shares in the last quarter. Resolution Capital Ltd lifted its position in shares of Federal Realty Investment Trust by 11.8% in the second quarter. Resolution Capital Ltd now owns 3,264,653 shares of the real estate investment trust's stock valued at $310,109,000 after acquiring an additional 344,189 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Federal Realty Investment Trust by 2.7% in the fourth quarter. Invesco Ltd. now owns 2,732,796 shares of the real estate investment trust's stock worth $275,466,000 after acquiring an additional 72,718 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Federal Realty Investment Trust by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,198,241 shares of the real estate investment trust's stock worth $221,217,000 after acquiring an additional 23,214 shares during the period. Hedge funds and other institutional investors own 93.86% of the company's stock.

Analysts Set New Price Targets

FRT has been the topic of several recent analyst reports. Evercore set a $122.00 target price on Federal Realty Investment Trust in a research note on Tuesday, July 7th. UBS Group upped their price target on Federal Realty Investment Trust from $118.00 to $127.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Barclays increased their price objective on shares of Federal Realty Investment Trust from $116.00 to $120.00 and gave the company an "equal weight" rating in a report on Wednesday, May 27th. Piper Sandler lifted their price objective on shares of Federal Realty Investment Trust from $127.00 to $149.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Mizuho set a $130.00 target price on shares of Federal Realty Investment Trust and gave the stock an "outperform" rating in a report on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Federal Realty Investment Trust has a consensus rating of "Moderate Buy" and a consensus price target of $127.62.

Federal Realty Investment Trust Price Performance

NYSE:FRT opened at $126.07 on Friday. The business's 50-day moving average is $121.97 and its 200 day moving average is $112.10. Federal Realty Investment Trust has a 12 month low of $89.99 and a 12 month high of $126.86. The company has a market capitalization of $10.89 billion, a P/E ratio of 21.89, a P/E/G ratio of 2.97 and a beta of 0.93. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.51.

Federal Realty Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, July 1st. Federal Realty Investment Trust's dividend payout ratio is 78.47%.

About Federal Realty Investment Trust

Federal Realty Investment Trust NYSE: FRT is a real estate investment trust specializing in the ownership, management, and redevelopment of high-quality retail, restaurant, and mixed-use properties. With a strategic focus on open-air shopping centers and lifestyle-oriented urban destinations, the company partners with leading national and regional retailers to curate environments that blend shopping, dining, entertainment, office, and residential uses. Its asset management capabilities extend from initial site selection and development through ongoing property operations and tenant relations.

Federal Realty's portfolio comprises approximately 100 properties totaling more than 25 million square feet of gross leasable area.

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