Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty's mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 106 properties include approximately 3,100 tenants, in 25 million square feet, and approximately 3,200 residential units. Federal Realty has increased its quarterly dividends to its shareholders for 54 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.federalrealty.com.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on FRT shares. Truist Financial reduced their target price on shares of Federal Realty Investment Trust from $128.00 to $125.00 in a research note on Friday, June 3rd. Piper Sandler cut their price objective on shares of Federal Realty Investment Trust to $120.00 in a report on Monday, July 4th. Raymond James upgraded Federal Realty Investment Trust from a "market perform" rating to a "strong-buy" rating and set a $140.00 target price for the company in a research report on Thursday, May 12th. Credit Suisse Group initiated coverage on Federal Realty Investment Trust in a research note on Wednesday, June 22nd. They issued a "neutral" rating and a $104.00 target price on the stock. Finally, Barclays decreased their price target on Federal Realty Investment Trust from $142.00 to $122.00 and set an "overweight" rating for the company in a report on Friday, July 15th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $124.67.
Federal Realty Investment Trust Stock Performance
Shares of FRT Stock traded up $1.83 during trading on Friday, reaching $111.68. 459,419 shares of the company's stock traded hands, compared to its average volume of 676,563. The firm's 50-day moving average is $101.00 and its 200 day moving average is $112.59. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $9.04 billion, a P/E ratio of 32.28, a PEG ratio of 2.52 and a beta of 1.13. Federal Realty Investment Trust has a 1 year low of $92.02 and a 1 year high of $140.51.
Federal Realty Investment Trust Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Thursday, September 22nd will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.87%. This is a boost from Federal Realty Investment Trust's previous quarterly dividend of $1.07. The ex-dividend date is Wednesday, September 21st. Federal Realty Investment Trust's dividend payout ratio (DPR) is currently 123.70%.
Insider Buying and Selling
In related news, Director David W. Faeder purchased 10,565 shares of Federal Realty Investment Trust stock in a transaction dated Tuesday, June 21st. The stock was purchased at an average cost of $95.84 per share, for a total transaction of $1,012,549.60. Following the completion of the purchase, the director now directly owns 23,878 shares of the company's stock, valued at approximately $2,288,467.52. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.