Envestnet Asset Management Inc. Has $6.99 Million Stock Holdings in Federal Realty Investment Trust (NYSE:FRT)

Envestnet Asset Management Inc. cut its position in shares of Federal Realty Investment Trust (NYSE:FRT) by 40.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,497 shares of the real estate investment trust’s stock after selling 48,496 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of Federal Realty Investment Trust worth $6,994,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in FRT. Norges Bank bought a new stake in shares of Federal Realty Investment Trust during the 4th quarter valued at $810,544,000. Centersquare Investment Management LLC raised its position in shares of Federal Realty Investment Trust by 935.8% during the 4th quarter. Centersquare Investment Management LLC now owns 1,042,016 shares of the real estate investment trust’s stock valued at $116,654,000 after acquiring an additional 941,414 shares during the last quarter. Invesco Ltd. raised its position in shares of Federal Realty Investment Trust by 41.4% during the 4th quarter. Invesco Ltd. now owns 3,053,443 shares of the real estate investment trust’s stock valued at $341,833,000 after acquiring an additional 893,258 shares during the last quarter. Northern Trust Corp increased its position in shares of Federal Realty Investment Trust by 73.4% in the 4th quarter. Northern Trust Corp now owns 1,234,753 shares of the real estate investment trust’s stock valued at $138,231,000 after buying an additional 522,531 shares in the last quarter. Finally, Resolution Capital Ltd increased its position in shares of Federal Realty Investment Trust by 12.4% in the 4th quarter. Resolution Capital Ltd now owns 3,523,155 shares of the real estate investment trust’s stock valued at $394,417,000 after buying an additional 389,266 shares in the last quarter. 93.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on FRT. UBS Group lowered their price objective on shares of Federal Realty Investment Trust from $118.00 to $103.00 and set a “neutral” rating for the company in a research report on Monday, June 16th. JPMorgan Chase & Co. lowered shares of Federal Realty Investment Trust from an “overweight” rating to a “neutral” rating and set a $108.00 target price for the company. in a research note on Monday, June 23rd. Mizuho reduced their target price on shares of Federal Realty Investment Trust from $107.00 to $96.00 and set a “neutral” rating for the company in a research note on Thursday, July 17th. Citigroup reaffirmed a “neutral” rating and issued a $106.00 target price (down from $135.00) on shares of Federal Realty Investment Trust in a research note on Friday, March 28th. Finally, Piper Sandler reduced their target price on shares of Federal Realty Investment Trust from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $111.29.

Federal Realty Investment Trust Stock Performance

Shares of Federal Realty Investment Trust stock opened at $96.09 on Wednesday. Federal Realty Investment Trust has a fifty-two week low of $80.65 and a fifty-two week high of $118.34. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.72 and a quick ratio of 1.72. The firm has a market capitalization of $8.24 billion, a P/E ratio of 27.53, a P/E/G ratio of 3.77 and a beta of 1.09. The company’s 50 day moving average price is $95.23 and its two-hundred day moving average price is $98.35.

Federal Realty Investment Trust (NYSE:FRT) last released its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.01. The firm had revenue of $302.29 million during the quarter, compared to the consensus estimate of $307.55 million. Federal Realty Investment Trust had a net margin of 24.77% and a return on equity of 9.97%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 earnings per share. On average, equities analysts forecast that Federal Realty Investment Trust will post 7.15 earnings per share for the current fiscal year.

Federal Realty Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend was Tuesday, July 1st. Federal Realty Investment Trust’s dividend payout ratio is presently 126.07%.

About Federal Realty Investment Trust

Federal Realty Investment Trust is an equity real estate investment trust, which engages in the provision of ownership, management, and redevelopment of retail and mixed-use properties located primarily in communities where demand exceeds supply in strategically selected metropolitan markets. The company was founded in 1962 and is headquartered in North Bethesda, MD.