Strs Ohio Takes Position in Federal Realty Investment Trust $FRT

Key Points

• Strs Ohio acquired a new stake in Federal Realty Investment Trust during the first quarter, purchasing 328,981 shares valued at approximately $32.18 million, increasing its ownership to 0.38% of the company.
• Federal Realty Investment Trust reported earnings of $1.91 per share for the latest quarter, surpassing expectations, and announced a dividend increase to $1.13 per share.
• Several analysts have recently upgraded their ratings on Federal Realty Investment Trust, with a consensus rating of "Moderate Buy" and a target price of $109.31.

Strs Ohio acquired a new stake in Federal Realty Investment Trust (NYSE:FRT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 328,981 shares of the real estate investment trust's stock, valued at approximately $32,181,000. Strs Ohio owned about 0.38% of Federal Realty Investment Trust at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Federal Realty Investment Trust by 3.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 700,435 shares of the real estate investment trust's stock worth $68,517,000 after purchasing an additional 26,200 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Federal Realty Investment Trust by 12.5% in the 1st quarter. Empowered Funds LLC now owns 3,205 shares of the real estate investment trust's stock valued at $310,000 after purchasing an additional 355 shares during the last quarter. MBB Public Markets I LLC acquired a new position in shares of Federal Realty Investment Trust in the 1st quarter valued at $318,000. Goldman Sachs Group Inc. grew its stake in shares of Federal Realty Investment Trust by 43.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 612,574 shares of the real estate investment trust's stock valued at $59,922,000 after buying an additional 184,557 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of Federal Realty Investment Trust by 21.5% during the 1st quarter. Jones Financial Companies Lllp now owns 2,903 shares of the real estate investment trust's stock valued at $284,000 after buying an additional 514 shares during the period. Hedge funds and other institutional investors own 93.86% of the company's stock.

Analyst Ratings Changes

FRT has been the topic of several research reports. UBS Group cut their target price on Federal Realty Investment Trust from $118.00 to $103.00 and set a "neutral" rating on the stock in a research report on Monday, June 16th. Mizuho raised their price objective on Federal Realty Investment Trust from $96.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Scotiabank lifted their price objective on Federal Realty Investment Trust from $113.00 to $114.00 and gave the company an "outperform" rating in a research note on Thursday, August 28th. Raymond James Financial decreased their target price on Federal Realty Investment Trust from $117.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. Finally, Barclays dropped their target price on shares of Federal Realty Investment Trust from $106.00 to $105.00 and set an "overweight" rating for the company in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Federal Realty Investment Trust currently has a consensus rating of "Moderate Buy" and an average target price of $109.31.

Federal Realty Investment Trust Stock Down 0.5%

Shares of NYSE FRT traded down $0.48 on Monday, hitting $101.17. The company had a trading volume of 655,317 shares, compared to its average volume of 776,728. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 1.42. Federal Realty Investment Trust has a 12-month low of $80.65 and a 12-month high of $118.34. The firm has a market capitalization of $8.73 billion, a P/E ratio of 25.61, a PEG ratio of 3.88 and a beta of 1.16. The business has a 50 day moving average of $96.08 and a two-hundred day moving average of $95.63.

Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $1.91 EPS for the quarter, beating the consensus estimate of $1.73 by $0.18. The business had revenue of $302.48 million for 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 was up 5.2% on a year-over-year basis. During the same period last year, the business posted $1.69 EPS. As a group, equities research analysts forecast that Federal Realty Investment Trust will post 7.15 earnings per share for the current fiscal 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 paid a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 4.5%. This is a boost 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 currently 114.43%.

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.