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

Federal Realty Investment Trust (NYSE:FRT) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $6.76-6.86 for the period, compared to the consensus EPS estimate of $6.79.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of Federal Realty Investment Trust from $115.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Piper Sandler upped their price target on Federal Realty Investment Trust from $122.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Scotiabank reduced their price objective on Federal Realty Investment Trust from $120.00 to $119.00 and set a “sector outperform” rating on the stock in a research report on Friday, October 11th. Truist Financial upped their target price on Federal Realty Investment Trust from $115.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Evercore ISI lifted their price target on Federal Realty Investment Trust from $120.00 to $123.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $122.77.

Federal Realty Investment Trust Trading Up 1.2 %

NYSE:FRT traded up $1.40 during trading hours on Wednesday, reaching $114.25. 712,374 shares of the stock were exchanged, compared to its average volume of 615,798. Federal Realty Investment Trust has a twelve month low of $88.25 and a twelve month high of $118.34. The business has a 50-day moving average of $114.05 and a two-hundred day moving average of $107.56. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of 40.17, a PEG ratio of 2.16 and a beta of 1.23. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 1.57.

Federal Realty Investment Trust (NYSE:FRT) last posted its earnings results 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 firm had revenue of $295.80 million for the quarter, compared to analyst estimates of $293.61 million. Federal Realty Investment Trust had a return on equity of 10.07% and a net margin of 24.69%. Federal Realty Investment Trust’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.67 EPS. On average, equities analysts predict that Federal Realty Investment Trust will post 6.81 EPS for the current year.

Federal Realty Investment Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $1.10 dividend. This is an increase from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $4.40 annualized dividend and a dividend yield of 3.85%. Federal Realty Investment Trust’s payout ratio is 156.58%.

Insider Activity

In related news, CEO Donald C. Wood sold 5,937 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $116.47, for a total transaction of $691,482.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Donald C. Wood sold 30,292 shares of Federal Realty Investment Trust stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $116.17, for a total transaction of $3,519,021.64. Following the completion of the sale, the chief executive officer now directly owns 6,637 shares of the company’s stock, valued at approximately $771,020.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Donald C. Wood sold 5,937 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $116.47, for a total value of $691,482.39. The disclosure for this sale can be found here. Insiders own 1.00% 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.