Scotiabank Trims Federal Realty Investment Trust (NYSE:FRT) Target Price to $119.00

Federal Realty Investment Trust (NYSE:FRT) had its target price trimmed by Scotiabank from $120.00 to $119.00 in a report released on Friday, Benzinga reports. The firm currently has a sector outperform rating on the real estate investment trust’s stock.

Several other research analysts also recently weighed in on the company. Piper Sandler upped their price target on Federal Realty Investment Trust from $122.00 to $135.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Truist Financial raised their target price on shares of Federal Realty Investment Trust from $115.00 to $121.00 and gave the company a buy rating in a research note on Wednesday, August 28th. Compass Point boosted their price target on shares of Federal Realty Investment Trust from $125.00 to $130.00 and gave the stock a buy rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. raised their price objective on Federal Realty Investment Trust from $112.00 to $121.00 and gave the company a neutral rating in a research report on Thursday, August 8th. Finally, Raymond James boosted their target price on Federal Realty Investment Trust from $108.00 to $120.00 and gave the stock an outperform rating in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Federal Realty Investment Trust currently has an average rating of Moderate Buy and an average target price of $122.77.

Federal Realty Investment Trust Stock Performance

NYSE:FRT opened at $111.53 on Friday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a 50-day simple moving average of $113.81 and a two-hundred day simple moving average of $106.48. The firm has a market capitalization of $9.25 billion, a PE ratio of 39.69, a P/E/G ratio of 2.11 and a beta of 1.23. Federal Realty Investment Trust has a 52-week low of $85.59 and a 52-week high of $118.34.

Federal Realty Investment Trust (NYSE:FRT) last announced 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). Federal Realty Investment Trust had a net margin of 24.69% and a return on equity of 10.07%. The company had revenue of $295.80 million for the quarter, compared to the consensus estimate of $293.61 million. During the same quarter last year, the firm posted $1.67 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. Analysts forecast that Federal Realty Investment Trust will post 6.81 EPS for the current year.

Federal Realty Investment Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 3.95%. This is a positive change from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. The ex-dividend date is Tuesday, October 1st. Federal Realty Investment Trust’s payout ratio is presently 156.58%.

Insider Activity

In other Federal Realty Investment Trust news, CEO Donald C. Wood sold 5,937 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $116.47, for a total transaction of $691,482.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Federal Realty Investment Trust news, CEO Donald C. Wood sold 30,292 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 6,637 shares in the company, valued at $771,020.29. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald C. Wood sold 5,937 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $116.47, for a total value of $691,482.39. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FRT. Family Firm Inc. acquired a new stake in Federal Realty Investment Trust in the second quarter worth about $33,000. Blue Trust Inc. boosted its stake in Federal Realty Investment Trust by 885.7% in the 2nd quarter. Blue Trust Inc. now owns 345 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 310 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Federal Realty Investment Trust during the 2nd quarter worth approximately $42,000. Quarry LP acquired a new position in Federal Realty Investment Trust during the 4th quarter valued at approximately $50,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Federal Realty Investment Trust in the first quarter worth $51,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

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.