VIRGINIA RETIREMENT SYSTEMS ET Al Sells 7,700 Shares of Federal Realty Investment Trust $FRT

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its stake in Federal Realty Investment Trust (NYSE:FRT) by 60.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,100 shares of the real estate investment trust’s stock after selling 7,700 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Federal Realty Investment Trust were worth $552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FRT. Bank of America Corp DE raised its stake in shares of Federal Realty Investment Trust by 90.2% in the 1st 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. Contravisory Investment Management Inc. boosted its position in shares of Federal Realty Investment Trust by 1,175.7% during the second quarter. Contravisory Investment Management Inc. now owns 9,708 shares of the real estate investment trust’s stock worth $1,198,000 after buying an additional 8,947 shares during the period. Renaissance Technologies LLC bought a new position in shares of Federal Realty Investment Trust during the 1st quarter worth approximately $1,519,000. Engineers Gate Manager LP bought a new stake in shares of Federal Realty Investment Trust in the second quarter worth $3,350,000. Finally, Resolution Capital Ltd boosted its holdings in Federal Realty Investment Trust by 10.3% during the first quarter. Resolution Capital Ltd now owns 3,644,575 shares of the real estate investment trust’s stock worth $387,090,000 after purchasing an additional 340,524 shares during the last quarter. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Nicole Lamb-Hale sold 1,500 shares of the company’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $108.89, for a total transaction of $163,335.00. Following the transaction, the director owned 4,613 shares in the company, valued at approximately $502,309.57. This represents a 24.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FRT shares. Wells Fargo & Company decreased their price objective on Federal Realty Investment Trust from $126.00 to $119.00 and set an “overweight” rating for the company in a report on Friday, October 23rd. Wall Street Zen cut shares of Federal Realty Investment Trust from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Evercore set a $123.00 target price on shares of Federal Realty Investment Trust in a research report on Monday, September 21st. Truist Financial started coverage on shares of Federal Realty Investment Trust in a research report on Thursday, October 1st. They set a “hold” rating and a $116.00 price target on the stock. Finally, Scotiabank dropped their price objective on shares of Federal Realty Investment Trust from $128.00 to $126.00 and set a “sector outperform” rating for the company in a research note on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.88.

Federal Realty Investment Trust Trading Down 0.5%

FRT stock traded down $0.52 during trading on Friday, hitting $112.72. The company had a trading volume of 834,766 shares, compared to its average volume of 994,474. Federal Realty Investment Trust has a one year low of $95.14 and a one year high of $128.21. The company has a current ratio of 1.53, a quick ratio of 1.70 and a debt-to-equity ratio of 1.55. The business has a 50-day moving average of $110.52 and a 200-day moving average of $113.18. The stock has a market cap of $9.70 billion, a PE ratio of 22.54, a PEG ratio of 2.78 and a beta of 0.94.

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

Federal Realty Investment Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Monday, January 4th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, January 4th. Federal Realty Investment Trust’s payout ratio is 92.80%.

About Federal Realty Investment Trust

Federal Realty Investment Trust is a self-administered and self-managed real estate investment trust that owns, operates and redevelops high-quality retail and mixed-use properties. Its portfolio includes shopping centers, street retail, and mixed-use developments that combine retail, residential, office and hospitality uses.

The company focuses on densely populated, affluent communities and prominent locations in major metropolitan markets. Its properties are concentrated in regions including the Northeast, Mid-Atlantic, California and South Florida, and are leased to a broad range of retailers, restaurants, service providers and other commercial tenants.

Founded in 1962, Federal Realty has developed and managed properties designed to serve both local communities and national retailers.