Renaissance Technologies LLC Sells 102,400 Shares of Federal Realty Investment Trust (NYSE:FRT)

Renaissance Technologies LLC cut its holdings in shares of Federal Realty Investment Trust (NYSE:FRT) by 49.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,400 shares of the real estate investment trust’s stock after selling 102,400 shares during the period. Renaissance Technologies LLC owned about 0.13% of Federal Realty Investment Trust worth $10,541,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. PFG Investments LLC lifted its stake in Federal Realty Investment Trust by 2.0% during the second quarter. PFG Investments LLC now owns 6,185 shares of the real estate investment trust’s stock worth $625,000 after purchasing an additional 124 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Federal Realty Investment Trust by 7.6% during the first quarter. GAMMA Investing LLC now owns 1,837 shares of the real estate investment trust’s stock worth $188,000 after buying an additional 130 shares in the last quarter. Strategy Asset Managers LLC increased its holdings in shares of Federal Realty Investment Trust by 5.8% during the first quarter. Strategy Asset Managers LLC now owns 3,001 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 164 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Federal Realty Investment Trust by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 46,497 shares of the real estate investment trust’s stock worth $4,747,000 after buying an additional 244 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Federal Realty Investment Trust by 86.9% during the first quarter. EverSource Wealth Advisors LLC now owns 542 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 252 shares in the last quarter. 93.86% of the stock is currently owned by institutional investors.

Insider Transactions at Federal Realty Investment Trust

In other news, CEO Donald C. Wood sold 5,937 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $116.47, for a total transaction of $691,482.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Donald C. Wood sold 30,292 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $116.17, for a total value of $3,519,021.64. Following the transaction, the chief executive officer now owns 6,637 shares of the company’s stock, valued at approximately $771,020.29. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Donald C. Wood sold 5,937 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $116.47, for a total transaction of $691,482.39. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FRT. Raymond James upped their price target on shares of Federal Realty Investment Trust from $108.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Wells Fargo & Company upped their price target on shares of Federal Realty Investment Trust from $115.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Scotiabank upped their price target on shares of Federal Realty Investment Trust from $112.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Compass Point increased their price objective on Federal Realty Investment Trust from $125.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. increased their price objective on Federal Realty Investment Trust from $112.00 to $121.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.85.

Federal Realty Investment Trust Stock Performance

Shares of Federal Realty Investment Trust stock opened at $114.66 on Tuesday. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 1.57. The business has a 50-day moving average price of $113.20 and a two-hundred day moving average price of $105.31. Federal Realty Investment Trust has a 1-year low of $85.59 and a 1-year high of $118.34. The company has a market cap of $9.51 billion, a P/E ratio of 40.80, a PEG ratio of 2.20 and a beta of 1.24.

Federal Realty Investment Trust (NYSE:FRT) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.36). The company had revenue of $295.80 million for the quarter, compared to the consensus estimate of $293.61 million. Federal Realty Investment Trust had a return on equity of 10.07% and a net margin of 24.69%. Federal Realty Investment Trust’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $1.67 EPS. As a group, analysts anticipate that Federal Realty Investment Trust will post 6.81 EPS for the current year.

Federal Realty Investment Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Tuesday, October 1st. This is a boost from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. Federal Realty Investment Trust’s dividend payout ratio is 156.58%.

Federal Realty Investment Trust Company 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 communities where retail demand exceeds supply.