Renaissance Technologies LLC bought a new stake in Federal Realty Investment Trust (NYSE:FRT – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,300 shares of the real estate investment trust’s stock, valued at approximately $1,519,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Hilltop Holdings Inc. acquired a new stake in shares of Federal Realty Investment Trust in the first quarter valued at $260,000. Compound Planning Inc. purchased a new position in Federal Realty Investment Trust during the 1st quarter valued at about $229,000. Mizuho Markets Americas LLC boosted its holdings in Federal Realty Investment Trust by 21.4% during the 1st quarter. Mizuho Markets Americas LLC now owns 131,598 shares of the real estate investment trust’s stock valued at $13,977,000 after acquiring an additional 23,216 shares during the period. Sei Investments Co. grew its position in Federal Realty Investment Trust by 14.3% in the 1st quarter. Sei Investments Co. now owns 400,662 shares of the real estate investment trust’s stock valued at $42,554,000 after acquiring an additional 50,252 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Federal Realty Investment Trust by 693.9% during the first quarter. First Trust Advisors LP now owns 382,058 shares of the real estate investment trust’s stock worth $40,578,000 after purchasing an additional 333,931 shares during the period. 93.86% of the stock is currently owned by hedge funds and other institutional investors.
Federal Realty Investment Trust Stock Up 0.4%
Shares of NYSE FRT opened at $117.17 on Thursday. The company has a market capitalization of $10.12 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 2.69 and a beta of 0.93. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.70 and a quick ratio of 1.70. The business has a 50-day moving average of $122.76 and a two-hundred day moving average of $113.98. Federal Realty Investment Trust has a 1 year low of $90.03 and a 1 year high of $128.21.
Federal Realty Investment Trust Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a $1.16 dividend. This is an increase from Federal Realty Investment Trust’s previous quarterly dividend of $1.13. This represents a $4.64 annualized dividend and a yield of 4.0%. The ex-dividend date is Thursday, October 1st. Federal Realty Investment Trust’s payout ratio is currently 93.74%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on FRT shares. Piper Sandler lifted their price objective on shares of Federal Realty Investment Trust from $127.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Bank of America raised their price target on shares of Federal Realty Investment Trust from $128.00 to $131.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Barclays boosted their price target on shares of Federal Realty Investment Trust from $116.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Jefferies Financial Group upgraded Federal Realty Investment Trust to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Federal Realty Investment Trust in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.25.
Read Our Latest Stock Report on Federal Realty Investment Trust
About Federal Realty Investment Trust
Federal Realty Investment Trust (NYSE: FRT) is a real estate investment trust specializing in the ownership, management, and redevelopment of high-quality retail, restaurant, and mixed-use properties. With a strategic focus on open-air shopping centers and lifestyle-oriented urban destinations, the company partners with leading national and regional retailers to curate environments that blend shopping, dining, entertainment, office, and residential uses. Its asset management capabilities extend from initial site selection and development through ongoing property operations and tenant relations.
Federal Realty’s portfolio comprises approximately 100 properties totaling more than 25 million square feet of gross leasable area.
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