Russell Investments Group Ltd. Has $30 Million Position in Federal Realty Investment Trust (NYSE:FRT)

Key Points

• Russell Investments Group Ltd. has reduced its stake in Federal Realty Investment Trust by 42%, owning 306,687 shares valued at approximately $30 million as of the latest SEC filing.
• Federal Realty Investment Trust reported earnings of $1.91 per share for the last quarter, exceeding analyst expectations of $1.73, and registered a 5.2% increase in revenue compared to the same period last year.
• The company has announced a quarterly dividend increase to $1.13 per share, marking a positive change from the previous dividend of $1.10, with a current yield of 4.8%.

Russell Investments Group Ltd. reduced its stake in shares of Federal Realty Investment Trust (NYSE:FRT - Free Report) by 42.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,687 shares of the real estate investment trust's stock after selling 222,396 shares during the quarter. Russell Investments Group Ltd. owned 0.36% of Federal Realty Investment Trust worth $30,000,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FRT. Versant Capital Management Inc grew its holdings in shares of Federal Realty Investment Trust by 82.3% during the first quarter. Versant Capital Management Inc now owns 288 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 130 shares during the last quarter. Park Square Financial Group LLC bought a new stake in shares of Federal Realty Investment Trust during the fourth quarter worth $30,000. Federated Hermes Inc. grew its holdings in shares of Federal Realty Investment Trust by 143.9% during the first quarter. Federated Hermes Inc. now owns 339 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 200 shares during the last quarter. CX Institutional bought a new stake in shares of Federal Realty Investment Trust during the first quarter worth $44,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Federal Realty Investment Trust during the fourth quarter worth $51,000. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Federal Realty Investment Trust Price Performance

Federal Realty Investment Trust stock opened at $93.86 on Friday. Federal Realty Investment Trust has a 12-month low of $80.65 and a 12-month high of $118.34. The business's 50-day simple moving average is $94.49 and its 200 day simple moving average is $96.89. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 1.42. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 23.76, a P/E/G ratio of 3.72 and a beta of 1.14.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.18. Federal Realty Investment Trust had a return on equity of 11.19% and a net margin of 28.01%. The firm had revenue of $302.48 million for the quarter, compared to analyst estimates of $309.25 million. During the same quarter in the prior year, the firm posted $1.69 earnings per share. The company's quarterly revenue was up 5.2% on a year-over-year basis. As a group, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a $1.13 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This is a positive change from Federal Realty Investment Trust's previous quarterly dividend of $1.10. This represents a $4.52 annualized dividend and a yield of 4.8%. Federal Realty Investment Trust's payout ratio is currently 111.39%.

Analyst Upgrades and Downgrades

FRT has been the topic of several research analyst reports. BMO Capital Markets restated an "outperform" rating and set a $110.00 target price on shares of Federal Realty Investment Trust in a report on Monday, May 26th. Scotiabank restated an "outperform" rating on shares of Federal Realty Investment Trust in a report on Wednesday, May 21st. Barclays initiated coverage on Federal Realty Investment Trust in a report on Wednesday, July 2nd. They set an "overweight" rating and a $106.00 target price on the stock. Evercore ISI decreased their target price on 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. Finally, Raymond James Financial decreased their price target on Federal Realty Investment Trust from $117.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.

Want to see what other hedge funds are holding FRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Federal Realty Investment Trust (NYSE:FRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.