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 Thursday morning. The company provided earnings per share guidance of $6.67-$6.87 for the period, compared to the consensus earnings per share estimate of $6.80.

Wall Street Analyst Weigh In

FRT has been the subject of a number of research reports. Mizuho decreased their target price on shares of Federal Realty Investment Trust from $104.00 to $101.00 and set a neutral rating for the company in a research report on Friday, February 23rd. Barclays lifted their price objective on Federal Realty Investment Trust from $119.00 to $120.00 and gave the stock an overweight rating in a research report on Friday, January 19th. Wells Fargo & Company upgraded shares of Federal Realty Investment Trust from an equal weight rating to an overweight rating and raised their price target for the stock from $110.00 to $112.00 in a report on Thursday, February 29th. Evercore ISI cut their target price on Federal Realty Investment Trust from $115.00 to $114.00 and set an outperform rating on the stock in a research report on Friday. Finally, Truist Financial reiterated a buy rating and issued a $117.00 price objective on shares of Federal Realty Investment Trust in a research note on Monday, March 25th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $113.30.

Federal Realty Investment Trust Stock Performance

Federal Realty Investment Trust stock traded down $2.90 during trading hours on Friday, hitting $102.01. The company had a trading volume of 1,336,869 shares, compared to its average volume of 625,133. The firm has a 50-day moving average of $100.75 and a 200 day moving average of $99.14. The firm has a market cap of $8.46 billion, a PE ratio of 36.30, a PEG ratio of 1.94 and a beta of 1.20. Federal Realty Investment Trust has a one year low of $85.27 and a one year high of $107.61. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.64 and a quick ratio of 2.64.

Federal Realty Investment Trust (NYSE:FRT) last posted its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.88). The company had revenue of $291.50 million during the quarter, compared to analyst estimates of $292.05 million. Federal Realty Investment Trust had a net margin of 20.55% and a return on equity of 8.34%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.58 earnings per share. On average, sell-side analysts expect that Federal Realty Investment Trust will post 6.81 earnings per share for the current year.

Federal Realty Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 21st will be issued a $1.09 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $4.36 annualized dividend and a dividend yield of 4.27%. Federal Realty Investment Trust’s payout ratio is currently 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.