Rafferty Asset Management LLC Lowers Position in Federal Realty Investment Trust $FRT

Rafferty Asset Management LLC cut its holdings in shares of Federal Realty Investment Trust (NYSE:FRT) by 16.4% in the first quarter, HoldingsChannel.com reports. The firm owned 8,408 shares of the real estate investment trust’s stock after selling 1,648 shares during the quarter. Rafferty Asset Management LLC’s holdings in Federal Realty Investment Trust were worth $822,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Resolution Capital Ltd grew its holdings in shares of Federal Realty Investment Trust by 12.4% during the 4th quarter. Resolution Capital Ltd now owns 3,523,155 shares of the real estate investment trust’s stock worth $394,417,000 after purchasing an additional 389,266 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Federal Realty Investment Trust by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,302,823 shares of the real estate investment trust’s stock worth $127,442,000 after purchasing an additional 17,634 shares during the period. Northern Trust Corp grew its holdings in shares of Federal Realty Investment Trust by 3.6% during the 1st quarter. Northern Trust Corp now owns 1,279,688 shares of the real estate investment trust’s stock worth $125,179,000 after purchasing an additional 44,935 shares during the period. Centersquare Investment Management LLC grew its holdings in shares of Federal Realty Investment Trust by 16.2% during the 1st quarter. Centersquare Investment Management LLC now owns 1,211,041 shares of the real estate investment trust’s stock worth $118,464,000 after purchasing an additional 169,025 shares during the period. Finally, Rush Island Management LP grew its holdings in shares of Federal Realty Investment Trust by 18.1% during the 4th quarter. Rush Island Management LP now owns 1,188,734 shares of the real estate investment trust’s stock worth $133,079,000 after purchasing an additional 182,120 shares during the period. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Federal Realty Investment Trust Price Performance

Shares of NYSE FRT opened at $100.66 on Tuesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.14 and a quick ratio of 2.14. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 3.84 and a beta of 1.16. The stock’s 50-day moving average is $95.00 and its two-hundred day moving average is $95.88. Federal Realty Investment Trust has a 1-year low of $80.65 and a 1-year high of $118.34.

Federal Realty Investment Trust (NYSE:FRT) last posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.18. The company had revenue of $302.48 million for the quarter, compared to analyst estimates of $309.25 million. Federal Realty Investment Trust had a return on equity of 11.19% and a net margin of 28.01%.Federal Realty Investment Trust’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.69 EPS. Analysts forecast that Federal Realty Investment Trust will post 7.15 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 Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a $1.13 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $4.52 dividend on an annualized basis and a yield of 4.5%. This is an increase from Federal Realty Investment Trust’s previous quarterly dividend of $1.10. Federal Realty Investment Trust’s dividend payout ratio is 111.39%.

Analyst Ratings Changes

FRT has been the subject of a number of research analyst reports. UBS Group lowered their price target on Federal Realty Investment Trust from $118.00 to $103.00 and set a “neutral” rating for the company in a report on Monday, June 16th. Scotiabank reissued an “outperform” rating and set a $114.00 target price on shares of Federal Realty Investment Trust in a research note on Thursday. BMO Capital Markets reissued an “outperform” rating and set a $110.00 target price on shares of Federal Realty Investment Trust in a research note on Monday, May 26th. Wells Fargo & Company increased their target price on Federal Realty Investment Trust from $113.00 to $116.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 27th. Finally, Mizuho increased their target price on Federal Realty Investment Trust from $96.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $110.79.

Federal Realty Investment Trust Profile

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.