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.
Federal Realty Investment Trust Trading Up 1.7 %
Shares of NYSE:FRT traded up $1.83 during midday trading on Friday, reaching $111.68. The stock had a trading volume of 459,419 shares, compared to its average volume of 676,563. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.65 and a current ratio of 1.65. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of 32.28, a price-to-earnings-growth ratio of 2.48 and a beta of 1.13. The company's 50 day moving average price is $101.00 and its 200 day moving average price is $112.67. Federal Realty Investment Trust has a twelve month low of $92.02 and a twelve month high of $140.51.
Federal Realty Investment Trust Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Thursday, September 22nd will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date is Wednesday, September 21st. This is a positive change from Federal Realty Investment Trust's previous quarterly dividend of $1.07. Federal Realty Investment Trust's payout ratio is 123.70%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on FRT shares. Jefferies Financial Group reduced their target price on shares of Federal Realty Investment Trust from $133.00 to $96.00 and set a "hold" rating for the company in a research note on Thursday, June 30th. Barclays reduced their price target on Federal Realty Investment Trust from $142.00 to $122.00 and set an "overweight" rating for the company in a research report on Friday, July 15th. Truist Financial cut their price objective on shares of Federal Realty Investment Trust from $128.00 to $125.00 in a research report on Friday, June 3rd. Piper Sandler cut their price target on shares of Federal Realty Investment Trust to $120.00 in a research report on Monday, July 4th. Finally, Bank of America upgraded Federal Realty Investment Trust from a "neutral" rating to a "buy" rating and raised their price objective for the company from $110.00 to $130.00 in a report on Tuesday. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued 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 price target of $124.67.
Insider Buying and Selling
In other news, Director David W. Faeder acquired 10,565 shares of the firm's stock in a transaction on Tuesday, June 21st. The stock was purchased at an average price of $95.84 per share, for a total transaction of $1,012,549.60. Following the purchase, the director now owns 23,878 shares in the company, valued at approximately $2,288,467.52. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.