Federal Realty Investment Trust (NYSE:FRT) Releases Earnings Results, Misses Expectations By $0.36 EPS

Federal Realty Investment Trust (NYSE:FRT) released its earnings results on Thursday. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.36), RTT News reports. The business had revenue of $295.80 million for the quarter, compared to analysts’ expectations of $293.61 million. Federal Realty Investment Trust had a return on equity of 10.14% and a net margin of 24.69%. Federal Realty Investment Trust’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 EPS. Federal Realty Investment Trust updated its FY24 guidance to $6.70-6.88 EPS and its FY 2024 guidance to 6.700-6.880 EPS.

Federal Realty Investment Trust Stock Down 0.3 %

Shares of FRT stock traded down $0.32 during trading hours on Friday, reaching $112.48. 979,478 shares of the stock were exchanged, compared to its average volume of 492,730. The business’s fifty day moving average is $103.57 and its two-hundred day moving average is $101.90. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.69 and a quick ratio of 1.69. Federal Realty Investment Trust has a 12-month low of $85.59 and a 12-month high of $115.05. The firm has a market capitalization of $9.33 billion, a P/E ratio of 40.03, a P/E/G ratio of 2.26 and a beta of 1.23.

Federal Realty Investment Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Tuesday, October 1st. This is a boost from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. Federal Realty Investment Trust’s dividend payout ratio is currently 155.16%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FRT shares. Evercore ISI lowered their price target on shares of Federal Realty Investment Trust from $115.00 to $114.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Bank of America boosted their price target on shares of Federal Realty Investment Trust from $118.00 to $124.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Mizuho upped their target price on shares of Federal Realty Investment Trust from $101.00 to $104.00 and gave the company a “neutral” rating in a research report on Thursday, May 23rd. Wells Fargo & Company upped their target price on shares of Federal Realty Investment Trust from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Finally, Scotiabank upped their target price on shares of Federal Realty Investment Trust from $109.00 to $112.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.30.

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.