Resona Asset Management Co. Ltd. Raises Holdings in Federal Realty Investment Trust (NYSE:FRT)

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Federal Realty Investment Trust by 14.3% in the first quarter, now owning about 51,377 shares valued at approximately $4.98 million.
• Federal Realty Investment Trust reported a quarterly earnings per share (EPS) of $1.91, surpassing the consensus estimate of $1.73, with revenue of $302.48 million, a slight decrease from the projected $309.25 million.
• The company declared a quarterly dividend of $1.13, up from its previous amount of $1.10, representing an annualized yield of 4.8%.

Resona Asset Management Co. Ltd. increased its position in Federal Realty Investment Trust (NYSE:FRT - Free Report) by 14.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,377 shares of the real estate investment trust's stock after buying an additional 6,411 shares during the quarter. Resona Asset Management Co. Ltd. owned about 0.06% of Federal Realty Investment Trust worth $4,983,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in FRT. Versant Capital Management Inc raised its position in Federal Realty Investment Trust by 82.3% in the first quarter. Versant Capital Management Inc now owns 288 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 130 shares during the period. Park Square Financial Group LLC purchased a new position in Federal Realty Investment Trust in the fourth quarter valued at about $30,000. Federated Hermes Inc. raised its position in Federal Realty Investment Trust by 143.9% in the first quarter. Federated Hermes Inc. now owns 339 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 200 shares during the period. CX Institutional purchased a new position in Federal Realty Investment Trust in the first quarter valued at about $44,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Federal Realty Investment Trust in the fourth quarter valued at about $51,000. 93.86% of the stock is owned by hedge funds and other institutional investors.

Federal Realty Investment Trust Stock Up 0.1%

NYSE:FRT opened at $93.86 on Friday. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 3.72 and a beta of 1.14. Federal Realty Investment Trust has a one year low of $80.65 and a one year high of $118.34. The stock has a 50-day simple moving average of $94.49 and a 200 day simple moving average of $96.89. 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 posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.18. The business had revenue of $302.48 million during the quarter, compared to the consensus estimate 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 for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $1.69 earnings per share. Sell-side analysts predict that Federal Realty Investment Trust will post 7.15 EPS for the current fiscal year.

Federal Realty Investment Trust Increases Dividend

The company 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. This represents a $4.52 dividend on an annualized basis and a yield of 4.8%. This is a positive change from Federal Realty Investment Trust's previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, October 1st. Federal Realty Investment Trust's payout ratio is 111.39%.

Analyst Upgrades and Downgrades

Several research analysts have commented on FRT shares. Wall Street Zen raised Federal Realty Investment Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Piper Sandler cut their price objective on Federal Realty Investment Trust from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Scotiabank reissued an "outperform" rating on shares of Federal Realty Investment Trust in a research report on Wednesday, May 21st. BMO Capital Markets reaffirmed 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. Finally, Evercore ISI dropped their target price on Federal Realty Investment Trust from $109.00 to $107.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock 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.

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