Principal Financial Group Inc. Grows Stock Holdings in Federal Realty Investment Trust (NYSE:FRT)

Principal Financial Group Inc. increased its position in Federal Realty Investment Trust (NYSE:FRT) by 8.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 93,306 shares of the real estate investment trust’s stock after acquiring an additional 7,501 shares during the period. Principal Financial Group Inc. owned about 0.11% of Federal Realty Investment Trust worth $10,727,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. raised its holdings in Federal Realty Investment Trust by 0.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 111,230 shares of the real estate investment trust’s stock worth $12,788,000 after acquiring an additional 752 shares during the last quarter. Intact Investment Management Inc. raised its holdings in Federal Realty Investment Trust by 7.1% in the 3rd quarter. Intact Investment Management Inc. now owns 45,430 shares of the real estate investment trust’s stock worth $5,223,000 after acquiring an additional 3,030 shares during the last quarter. Van ECK Associates Corp raised its holdings in Federal Realty Investment Trust by 12.7% in the 3rd quarter. Van ECK Associates Corp now owns 35,370 shares of the real estate investment trust’s stock worth $4,047,000 after acquiring an additional 3,992 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Federal Realty Investment Trust by 7.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 6,240 shares of the real estate investment trust’s stock worth $717,000 after acquiring an additional 426 shares during the last quarter. Finally, New York State Teachers Retirement System raised its holdings in Federal Realty Investment Trust by 9.5% in the 3rd quarter. New York State Teachers Retirement System now owns 79,894 shares of the real estate investment trust’s stock worth $9,185,000 after acquiring an additional 6,962 shares during the last quarter. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Federal Realty Investment Trust from $120.00 to $123.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Scotiabank decreased their target price on shares of Federal Realty Investment Trust from $120.00 to $119.00 and set a “sector outperform” rating for the company in a research note on Friday, October 11th. Truist Financial boosted 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. Raymond James boosted their target price on shares of Federal Realty Investment Trust from $108.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Federal Realty Investment Trust from $121.00 to $122.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Federal Realty Investment Trust has a consensus rating of “Moderate Buy” and a consensus target price of $122.85.

Federal Realty Investment Trust Trading Up 0.1 %

Shares of FRT stock opened at $113.54 on Monday. Federal Realty Investment Trust has a 1 year low of $90.84 and a 1 year high of $118.34. The firm has a fifty day moving average price of $113.58 and a 200-day moving average price of $108.67. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market cap of $9.42 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 2.14 and a beta of 1.24.

Federal Realty Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Thursday, January 2nd. Federal Realty Investment Trust’s dividend payout ratio is currently 127.91%.

Insider Buying and Selling

In related news, CEO Donald C. Wood sold 30,292 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 6,637 shares of the company’s stock, valued at approximately $771,020.29. This represents a 82.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

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.