Federal Realty Investment Trust (NYSE:FRT) Given New $121.00 Price Target at Citigroup

Federal Realty Investment Trust (NYSE:FRT) had its price objective cut by equities researchers at Citigroup from $130.00 to $121.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup‘s price objective indicates a potential upside of 6.55% from the stock’s previous close.

A number of other brokerages have also issued reports on FRT. Truist Financial initiated coverage on shares of Federal Realty Investment Trust in a research note on Thursday, October 1st. They set a “hold” rating and a $116.00 price target on the stock. Weiss Ratings cut shares of Federal Realty Investment Trust from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 1st. Piper Sandler lifted their price objective on shares of Federal Realty Investment Trust from $131.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. UBS Group dropped their price objective on shares of Federal Realty Investment Trust from $127.00 to $115.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. Finally, Mizuho cut their target price on Federal Realty Investment Trust from $130.00 to $117.00 and set an “outperform” rating on the stock in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Federal Realty Investment Trust presently has a consensus rating of “Moderate Buy” and an average price target of $124.31.

Federal Realty Investment Trust Stock Up 0.9%

FRT stock traded up $0.98 on Monday, hitting $113.56. 221,392 shares of the company’s stock were exchanged, compared to its average volume of 890,783. The firm has a 50 day moving average price of $110.52 and a two-hundred day moving average price of $113.18. Federal Realty Investment Trust has a 12-month low of $95.14 and a 12-month high of $128.21. The stock has a market cap of $9.77 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 2.81 and a beta of 0.94. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.53 and a current ratio of 1.53.

Federal Realty Investment Trust (NYSE:FRT) last released its quarterly earnings results on Friday, October 30th. The real estate investment trust reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $1.85 by ($1.11). Federal Realty Investment Trust had a net margin of 32.60% and a return on equity of 13.76%. The business had revenue of $339.02 million during the quarter, compared to analysts’ expectations of $336.57 million. During the same quarter last year, the business posted $1.77 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Federal Realty Investment Trust will post 7.56 EPS for the current fiscal year.

Insider Transactions at Federal Realty Investment Trust

In other Federal Realty Investment Trust news, Director Nicole Lamb-Hale sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $108.89, for a total transaction of $163,335.00. Following the completion of the transaction, the director directly owned 4,613 shares of the company’s stock, valued at approximately $502,309.57. This trade represents a 24.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Federal Realty Investment Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE grew its position in shares of Federal Realty Investment Trust by 90.2% in the first quarter. Bank of America Corp DE now owns 509,498 shares of the real estate investment trust’s stock valued at $54,114,000 after purchasing an additional 241,684 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Federal Realty Investment Trust during the 1st quarter worth about $1,519,000. Contravisory Investment Management Inc. raised its position in shares of Federal Realty Investment Trust by 1,175.7% during the 2nd quarter. Contravisory Investment Management Inc. now owns 9,708 shares of the real estate investment trust’s stock worth $1,198,000 after purchasing an additional 8,947 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Federal Realty Investment Trust during the 2nd quarter worth about $3,350,000. Finally, Resolution Capital Ltd lifted its stake in Federal Realty Investment Trust by 10.3% in the 1st quarter. Resolution Capital Ltd now owns 3,644,575 shares of the real estate investment trust’s stock valued at $387,090,000 after buying an additional 340,524 shares in the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

Federal Realty Investment Trust Company Profile

Federal Realty Investment Trust is a real estate investment trust that owns, operates, and redevelops retail and mixed-use properties. Its portfolio includes shopping centers and destination-style properties that combine retail, restaurants, entertainment, and, in some locations, residential and office space.

The company focuses on established, densely populated communities, primarily in the Northeast, Mid-Atlantic, California, and South Florida. Its properties serve shoppers, residents, and businesses through a mix of national and local retailers, dining options, and other services.

Founded in 1962, Federal Realty has developed and operated properties such as Santana Row in San Jose, California, and Pike & Rose in North Bethesda, Maryland.