Federal Realty Investment Trust (NYSE:FRT) Releases 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.

Federal Realty Investment Trust Stock Performance

NYSE:FRT traded down $2.90 during mid-day trading on Friday, hitting $102.01. The company’s stock had a trading volume of 1,336,869 shares, compared to its average volume of 625,133. The business’s fifty day moving average is $100.75 and its two-hundred day moving average is $99.14. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 1.94 and a beta of 1.20. 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 has a 1 year low of $85.27 and a 1 year high of $107.61.

Federal Realty Investment Trust (NYSE:FRT) last issued its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.88). Federal Realty Investment Trust had a return on equity of 8.34% and a net margin of 20.55%. The firm had revenue of $291.50 million for the quarter, compared to analyst estimates of $292.05 million. During the same period in the previous year, the business earned $1.58 EPS. Federal Realty Investment Trust’s revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts anticipate that Federal Realty Investment Trust will post 6.81 EPS for the current fiscal year.

Federal Realty Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 21st will be given a dividend of $1.09 per share. The ex-dividend date of this dividend is Friday, June 21st. This represents a $4.36 dividend on an annualized basis and a yield of 4.27%. Federal Realty Investment Trust’s payout ratio is presently 155.16%.

Analysts Set New Price Targets

Several research analysts recently weighed in on FRT shares. Truist Financial reiterated a buy rating and issued a $117.00 price objective on shares of Federal Realty Investment Trust in a research report on Monday, March 25th. Barclays raised 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. Bank of America upped their target price on shares of Federal Realty Investment Trust from $118.00 to $124.00 and gave the company a buy rating in a research report on Friday, April 5th. Scotiabank dropped their price target on shares of Federal Realty Investment Trust from $110.00 to $109.00 and set a sector outperform rating for the company in a research report on Wednesday, February 28th. Finally, Evercore ISI decreased their price objective on shares of Federal Realty Investment Trust from $115.00 to $114.00 and set an outperform rating on the stock in a report on Friday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $113.30.

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.