Royal Bank of Canada Boosts Stake in Federal Realty Investment Trust $FRT

Key Points

• The Royal Bank of Canada increased its holdings in Federal Realty Investment Trust by 2.9%, owning approximately 0.55% of the company, worth about $46.26 million.
• Federal Realty Investment Trust recently raised its quarterly dividend from $1.10 to $1.13 per share, equating to a 4.4% yield, with a payout ratio of 114.43%.
• Wall Street analysts have mixed ratings on Federal Realty Investment Trust, with an average rating of “Moderate Buy” and a consensus price target of $110.79.

Royal Bank of Canada boosted its stake in shares of Federal Realty Investment Trust (NYSE:FRT - Free Report) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472,924 shares of the real estate investment trust's stock after purchasing an additional 13,323 shares during the quarter. Royal Bank of Canada owned about 0.55% of Federal Realty Investment Trust worth $46,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new stake in shares of Federal Realty Investment Trust during the fourth quarter valued at about $30,000. Versant Capital Management Inc raised its stake in shares of Federal Realty Investment Trust by 82.3% during the 1st quarter. Versant Capital Management Inc now owns 288 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 130 shares in the last quarter. GKV Capital Management Co. Inc. purchased a new stake in Federal Realty Investment Trust during the first quarter valued at approximately $30,000. Federated Hermes Inc. boosted its stake 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 acquiring an additional 200 shares in the last quarter. Finally, Dagco Inc. purchased a new position in Federal Realty Investment Trust in the first quarter worth $34,000. 93.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FRT shares. LADENBURG THALM/SH SH upgraded Federal Realty Investment Trust to a "strong-buy" rating in a report on Tuesday. Evercore ISI cut their price objective on shares of 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 decreased their price objective on shares of Federal Realty Investment Trust from $117.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. JPMorgan Chase & Co. lifted their target price on shares of Federal Realty Investment Trust from $108.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 27th. Finally, UBS Group cut their price target on shares of Federal Realty Investment Trust from $118.00 to $103.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $109.31.

Federal Realty Investment Trust Stock Performance

FRT traded up $1.41 during midday trading on Thursday, hitting $101.86. 522,662 shares of the company were exchanged, compared to its average volume of 667,115. The company's 50 day simple moving average is $95.96 and its 200 day simple moving average is $95.78. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 3.84 and a beta of 1.16. Federal Realty Investment Trust has a 1-year low of $80.65 and a 1-year high of $118.34. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 1.42.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.18. The business had revenue of $302.48 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.69 EPS. As a group, sell-side analysts predict that Federal Realty Investment Trust will post 7.15 earnings per share for the current year.

Federal Realty Investment Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a dividend of $1.13 per share. This is a positive change from Federal Realty Investment Trust's previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $4.52 annualized dividend and a dividend yield of 4.4%. Federal Realty Investment Trust's payout ratio is presently 114.43%.

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.