Municipal Employees Retirement System of Michigan purchased a new position in shares of Federal Realty Investment Trust (NYSE:FRT) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,970 shares of the real estate investment trust’s stock, valued at approximately $233,000.
A number of other hedge funds have also recently bought and sold shares of FRT. We Are One Seven LLC bought a new stake in Federal Realty Investment Trust during the 4th quarter worth approximately $46,000. Clarus Wealth Advisors increased its holdings in Federal Realty Investment Trust by 19.4% during the 4th quarter. Clarus Wealth Advisors now owns 651 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 106 shares in the last quarter. Enlightenment Research LLC bought a new stake in Federal Realty Investment Trust during the 4th quarter worth approximately $94,000. Pearl River Capital LLC bought a new stake in Federal Realty Investment Trust during the 4th quarter worth approximately $100,000. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in Federal Realty Investment Trust by 14.8% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 868 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 112 shares in the last quarter. 95.35% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on FRT shares. Zacks Investment Research raised Federal Realty Investment Trust from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. BMO Capital Markets reissued a “buy” rating and set a $135.00 price objective on shares of Federal Realty Investment Trust in a report on Thursday, February 14th. Mizuho lowered Federal Realty Investment Trust from a “buy” rating to a “neutral” rating and set a $140.00 price objective for the company. in a report on Thursday, March 7th. Finally, Citigroup boosted their price objective on Federal Realty Investment Trust from $146.00 to $148.00 and gave the stock a “neutral” rating in a report on Monday, February 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $139.82.
FRT stock opened at $136.52 on Tuesday. The company has a market capitalization of $10.30 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 4.28 and a beta of 0.52. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.33 and a quick ratio of 1.33. Federal Realty Investment Trust has a 12-month low of $110.66 and a 12-month high of $139.29.
Federal Realty Investment Trust (NYSE:FRT) last released its earnings results on Wednesday, February 13th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.86). The business had revenue of $235.38 million during the quarter, compared to the consensus estimate of $235.70 million. Federal Realty Investment Trust had a net margin of 26.42% and a return on equity of 10.73%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 earnings per share. Analysts anticipate that Federal Realty Investment Trust will post 6.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 14th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.99%. The ex-dividend date was Wednesday, March 13th. Federal Realty Investment Trust’s dividend payout ratio is presently 65.49%.
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Federal Realty Investment Trust 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 densely populated, affluent communities where retail demand exceeds supply.
Further Reading: The Role of a Fiduciary and Individual Investors
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