Retirement Systems of Alabama Sells 399 Shares of Federal Realty Investment Trust (NYSE:FRT)

Retirement Systems of Alabama reduced its position in shares of Federal Realty Investment Trust (NYSE:FRT) by 0.7% in the fourth quarter, Holdings Channel reports. The fund owned 60,683 shares of the real estate investment trust’s stock after selling 399 shares during the quarter. Retirement Systems of Alabama’s holdings in Federal Realty Investment Trust were worth $6,253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FRT. Xponance Inc. raised its holdings in Federal Realty Investment Trust by 2.4% during the 3rd quarter. Xponance Inc. now owns 11,323 shares of the real estate investment trust’s stock valued at $1,026,000 after buying an additional 260 shares during the period. Raymond James & Associates raised its holdings in Federal Realty Investment Trust by 5.5% during the 3rd quarter. Raymond James & Associates now owns 132,153 shares of the real estate investment trust’s stock valued at $11,977,000 after buying an additional 6,909 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Federal Realty Investment Trust by 6.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 13,087 shares of the real estate investment trust’s stock valued at $1,186,000 after buying an additional 819 shares during the period. Bailard Inc. purchased a new stake in Federal Realty Investment Trust during the 3rd quarter valued at $444,000. Finally, Brown Advisory Inc. raised its holdings in Federal Realty Investment Trust by 3.0% during the 3rd quarter. Brown Advisory Inc. now owns 7,225 shares of the real estate investment trust’s stock valued at $655,000 after buying an additional 209 shares during the period. 93.86% of the stock is currently owned by institutional investors.

Federal Realty Investment Trust Price Performance

FRT opened at $102.01 on Friday. Federal Realty Investment Trust has a 12-month low of $85.27 and a 12-month high of $107.61. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 1.60. The business’s fifty day simple moving average is $100.75 and its 200-day simple moving average is $99.14. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 1.94 and a beta of 1.20.

Federal Realty Investment Trust (NYSE:FRT) last posted its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.88). Federal Realty Investment Trust had a return on equity of 8.34% and a net margin of 20.55%. The firm had revenue of $291.50 million for the quarter, compared to the consensus estimate of $292.05 million. During the same period in the previous year, the company posted $1.58 EPS. Federal Realty Investment Trust’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that Federal Realty Investment Trust will post 6.81 earnings per share for the current fiscal year.

Federal Realty Investment Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 21st will be given a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Friday, June 21st. Federal Realty Investment Trust’s payout ratio is 155.16%.

Analysts Set New Price Targets

Several research firms recently weighed in on FRT. Scotiabank decreased their price target on Federal Realty Investment Trust from $110.00 to $109.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft upgraded Federal Realty Investment Trust from a “hold” rating to a “buy” rating and increased their price target for the company from $109.00 to $110.00 in a report on Monday, April 22nd. Truist Financial reiterated a “buy” rating and issued a $117.00 target price on shares of Federal Realty Investment Trust in a research note on Monday, March 25th. Mizuho reduced their target price on Federal Realty Investment Trust from $104.00 to $101.00 and set a “neutral” rating on the stock in a research note on Friday, February 23rd. Finally, Evercore ISI reduced their target price on Federal Realty Investment Trust from $115.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.30.

Federal Realty Investment Trust Company Profile

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, DC 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.