Allianz Asset Management GmbH Sells 59,373 Shares of Federal Realty Investment Trust $FRT

Allianz Asset Management GmbH decreased its position in Federal Realty Investment Trust (NYSE:FRT) by 35.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,692 shares of the real estate investment trust’s stock after selling 59,373 shares during the quarter. Allianz Asset Management GmbH owned 0.13% of Federal Realty Investment Trust worth $10,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in FRT. Hilltop National Bank bought a new stake in Federal Realty Investment Trust in the 2nd quarter worth approximately $28,000. GKV Capital Management Co. Inc. bought a new stake in Federal Realty Investment Trust in the 1st quarter worth approximately $30,000. Federated Hermes Inc. increased its stake in Federal Realty Investment Trust by 143.9% in the 1st quarter. Federated Hermes Inc. now owns 339 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 200 shares during the last quarter. Dagco Inc. bought a new stake in Federal Realty Investment Trust in the 1st quarter worth approximately $34,000. Finally, Frazier Financial Advisors LLC bought a new stake in Federal Realty Investment Trust in the 2nd quarter worth approximately $48,000. Institutional investors own 93.86% of the company’s stock.

Federal Realty Investment Trust Price Performance

FRT opened at $100.26 on Wednesday. The business has a fifty day moving average of $98.93 and a 200 day moving average of $95.80. Federal Realty Investment Trust has a 52-week low of $80.65 and a 52-week high of $118.09. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 1.42. The stock has a market cap of $8.65 billion, a P/E ratio of 25.38, a PEG ratio of 3.94 and a beta of 1.15.

Federal Realty Investment Trust (NYSE:FRT) last posted its quarterly earnings data 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. Federal Realty Investment Trust had a return on equity of 11.19% and a net margin of 28.01%.The company had revenue of $302.48 million during the quarter, compared to analysts’ expectations of $309.25 million. During the same quarter in the previous year, the business earned $1.69 EPS. Federal Realty Investment Trust’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Federal Realty Investment Trust will post 7.15 EPS for the current year.

Federal Realty Investment Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Wednesday, October 1st. This is an increase from Federal Realty Investment Trust’s previous quarterly dividend of $1.10. Federal Realty Investment Trust’s dividend payout ratio (DPR) is presently 114.43%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FRT. LADENBURG THALM/SH SH raised Federal Realty Investment Trust to a “strong-buy” rating in a research note on Tuesday, September 9th. Barclays lifted their target price on Federal Realty Investment Trust from $112.00 to $113.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Scotiabank lifted their target price on Federal Realty Investment Trust from $113.00 to $114.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Wall Street Zen upgraded Federal Realty Investment Trust from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Federal Realty Investment Trust in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.29.

About Federal Realty Investment Trust

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.