Federal Realty Investment Trust (NYSE:FRT) Price Target Cut to $114.00

Federal Realty Investment Trust (NYSE:FRT) had its target price reduced by Evercore ISI from $115.00 to $114.00 in a research report released on Friday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the real estate investment trust’s stock.

A number of other research firms have also weighed in on FRT. Deutsche Bank Aktiengesellschaft raised shares of Federal Realty Investment Trust from a hold rating to a buy rating and raised their target price for the company from $109.00 to $110.00 in a report on Monday, April 22nd. Wells Fargo & Company upgraded shares of Federal Realty Investment Trust from an equal weight rating to an overweight rating and boosted their target price for the stock from $110.00 to $112.00 in a report on Thursday, February 29th. Barclays boosted their price objective on Federal Realty Investment Trust from $119.00 to $120.00 and gave the stock an overweight rating in a research note on Friday, January 19th. Bank of America raised their price objective on Federal Realty Investment Trust from $118.00 to $124.00 and gave the company a buy rating in a research note on Friday, April 5th. Finally, Mizuho dropped their target price on Federal Realty Investment Trust from $104.00 to $101.00 and set a neutral rating for the company in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Federal Realty Investment Trust currently has a consensus rating of Moderate Buy and an average price target of $113.30.

Federal Realty Investment Trust Price Performance

FRT traded down $2.90 during trading on Friday, hitting $102.01. 1,336,869 shares of the company traded hands, compared to its average volume of 625,133. The company has a market cap of $8.46 billion, a PE ratio of 36.31, a P/E/G ratio of 1.99 and a beta of 1.20. Federal Realty Investment Trust has a 1 year low of $85.27 and a 1 year 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 stock’s 50-day simple moving average is $100.75 and its two-hundred day simple moving average is $99.09.

Federal Realty Investment Trust (NYSE:FRT) last issued its earnings results on Monday, February 12th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $292.05 million. During the same period last year, the firm posted $1.58 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Federal Realty Investment Trust will post 6.8 earnings per share for the current fiscal year.

Federal Realty Investment Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 21st will be paid 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 of this dividend is Friday, June 21st. Federal Realty Investment Trust’s dividend payout ratio is currently 155.16%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FRT. Norges Bank purchased a new stake in Federal Realty Investment Trust in the 4th quarter valued at about $743,378,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Federal Realty Investment Trust during the third quarter valued at approximately $80,342,000. JPMorgan Chase & Co. boosted its holdings in shares of Federal Realty Investment Trust by 12.1% in the third quarter. JPMorgan Chase & Co. now owns 4,717,403 shares of the real estate investment trust’s stock valued at $427,538,000 after purchasing an additional 509,909 shares during the period. PGGM Investments boosted its holdings in shares of Federal Realty Investment Trust by 132.0% in the third quarter. PGGM Investments now owns 600,368 shares of the real estate investment trust’s stock valued at $54,411,000 after purchasing an additional 341,590 shares during the period. Finally, Heitman Real Estate Securities LLC grew its stake in Federal Realty Investment Trust by 1,553.3% in the fourth quarter. Heitman Real Estate Securities LLC now owns 207,700 shares of the real estate investment trust’s stock worth $21,403,000 after purchasing an additional 195,137 shares in the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.

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.