Evercore ISI Downgrades Federal Realty Investment Trust (FRT) to Underperform
Evercore ISI lowered shares of Federal Realty Investment Trust (NYSE:FRT) from an in-line rating to an underperform rating in a research note issued to investors on Monday morning, MarketBeat reports. Evercore ISI currently has $128.00 price objective on the real estate investment trust’s stock.
A number of other analysts have also recently issued reports on the company. Boenning Scattergood set a $140.00 price objective on Federal Realty Investment Trust and gave the company a buy rating in a research report on Friday, August 4th. Jefferies Group LLC reissued a hold rating and set a $136.00 price objective on shares of Federal Realty Investment Trust in a research report on Tuesday, July 25th. BidaskClub raised Federal Realty Investment Trust from a hold rating to a buy rating in a research report on Monday, July 24th. Bank of America Corporation raised Federal Realty Investment Trust from a neutral rating to a buy rating and lifted their price objective for the company from $140.00 to $146.00 in a research report on Friday, July 21st. Finally, Citigroup Inc. reissued a buy rating and set a $156.00 price objective (down previously from $160.00) on shares of Federal Realty Investment Trust in a research report on Sunday, June 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Federal Realty Investment Trust has a consensus rating of Buy and an average price target of $144.88.
Federal Realty Investment Trust (NYSE FRT) traded down 1.90% during midday trading on Monday, hitting $126.11. The stock had a trading volume of 224,516 shares. Federal Realty Investment Trust has a 12-month low of $120.50 and a 12-month high of $162.06. The stock has a market cap of $9.11 billion, a P/E ratio of 36.52 and a beta of 0.29. The company’s 50-day moving average price is $129.95 and its 200 day moving average price is $131.70.
Federal Realty Investment Trust (NYSE:FRT) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.03. The firm had revenue of $208 million during the quarter, compared to analysts’ expectations of $208.33 million. Federal Realty Investment Trust had a return on equity of 10.91% and a net margin of 30.40%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 earnings per share. On average, equities research analysts predict that Federal Realty Investment Trust will post $3.36 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 22nd will be issued a dividend of $1.00 per share. This is a positive change from Federal Realty Investment Trust’s previous quarterly dividend of $0.98. This represents a $4.00 annualized dividend and a yield of 3.11%. The ex-dividend date is Thursday, September 21st. Federal Realty Investment Trust’s dividend payout ratio (DPR) is 113.62%.
In other Federal Realty Investment Trust news, insider Donald C. Wood sold 2,772 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $133.06, for a total transaction of $368,842.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Dawn M. Becker sold 2,281 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $133.05, for a total value of $303,487.05. Following the transaction, the executive vice president now owns 123,744 shares in the company, valued at $16,464,139.20. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Franklin Parlapiano Turner & Welch LLC bought a new position in Federal Realty Investment Trust during the first quarter valued at $126,000. Alexandria Capital LLC raised its position in Federal Realty Investment Trust by 1.4% in the first quarter. Alexandria Capital LLC now owns 1,187 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 16 shares during the last quarter. Global X Management Co. LLC raised its position in Federal Realty Investment Trust by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,245 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 292 shares during the last quarter. Advisor Group Inc. raised its position in Federal Realty Investment Trust by 27.4% in the second quarter. Advisor Group Inc. now owns 1,380 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 297 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Federal Realty Investment Trust by 0.3% in the first quarter. IFP Advisors Inc now owns 1,534 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 4 shares during the last quarter. Institutional investors own 94.63% of the company’s stock.
About Federal Realty Investment Trust
Federal Realty Investment Trust is an equity real estate investment trust (REIT). The Company specializes in the ownership, management and redevelopment of retail and mixed-use properties located primarily in affluent communities in selected metropolitan markets in the Northeast and Mid-Atlantic regions of the United States, as well as in California and South Florida.
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