Federal Realty Investment Trust (NYSE:FRT) Releases FY24 Earnings Guidance

Federal Realty Investment Trust (NYSE:FRT) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $6.70-6.88 for the period, compared to the consensus EPS estimate of $6.79. Federal Realty Investment Trust also updated its FY 2024 guidance to 6.700-6.880 EPS.

Analyst Ratings Changes

Several analysts have issued reports on the company. Piper Sandler upped their target price on Federal Realty Investment Trust from $122.00 to $135.00 and gave the company an overweight rating in a report on Friday. Wells Fargo & Company lifted their target price on shares of Federal Realty Investment Trust from $112.00 to $115.00 and gave the stock an overweight rating in a research note on Tuesday, May 28th. Scotiabank upped their price objective on Federal Realty Investment Trust from $109.00 to $112.00 and gave the company a sector outperform rating in a report on Thursday, May 16th. Mizuho increased their price objective on Federal Realty Investment Trust from $101.00 to $104.00 and gave the stock a neutral rating in a research report on Thursday, May 23rd. Finally, Truist Financial cut their target price on shares of Federal Realty Investment Trust from $117.00 to $115.00 and set a buy rating on the stock in a research note on Monday, May 20th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $115.30.

Federal Realty Investment Trust Stock Performance

FRT traded down $0.32 on Friday, reaching $112.48. The company had a trading volume of 979,478 shares, compared to its average volume of 492,730. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.59. Federal Realty Investment Trust has a 1 year low of $85.59 and a 1 year high of $115.05. The stock has a market capitalization of $9.33 billion, a PE ratio of 40.03, a P/E/G ratio of 2.26 and a beta of 1.23. The stock has a 50-day moving average price of $103.57 and a 200-day moving average price of $101.90.

Federal Realty Investment Trust (NYSE:FRT) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.36). 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%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.67 earnings per share. As a group, research analysts forecast that Federal Realty Investment Trust will post 6.8 EPS for the current fiscal year.

Federal Realty Investment Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid 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 of this dividend 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 155.16%.

About Federal Realty Investment Trust

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.