Kayne Anderson Rudnick Investment Management LLC Decreases Holdings in Federal Realty Investment Trust (NYSE:FRT)

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in Federal Realty Investment Trust (NYSE:FRT) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,929 shares of the real estate investment trust’s stock after selling 332 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Federal Realty Investment Trust were worth $1,507,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. increased its position in Federal Realty Investment Trust by 571.1% during the second quarter. Westwood Holdings Group Inc. now owns 642,446 shares of the real estate investment trust’s stock valued at $64,868,000 after acquiring an additional 546,711 shares during the last quarter. Heitman Real Estate Securities LLC lifted its stake in Federal Realty Investment Trust by 1,553.3% in the fourth quarter. Heitman Real Estate Securities LLC now owns 207,700 shares of the real estate investment trust’s stock worth $21,403,000 after purchasing an additional 195,137 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Federal Realty Investment Trust by 1.5% during the first quarter. Vanguard Group Inc. now owns 12,731,109 shares of the real estate investment trust’s stock valued at $1,300,101,000 after buying an additional 193,740 shares during the period. Mizuho Markets Americas LLC grew its stake in shares of Federal Realty Investment Trust by 311.0% during the first quarter. Mizuho Markets Americas LLC now owns 212,129 shares of the real estate investment trust’s stock valued at $21,663,000 after buying an additional 160,519 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of Federal Realty Investment Trust by 182.8% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 176,040 shares of the real estate investment trust’s stock worth $18,141,000 after buying an additional 113,783 shares during the period. 93.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Truist Financial upped their price objective on Federal Realty Investment Trust from $115.00 to $121.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Compass Point raised 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. Piper Sandler boosted their price objective on shares of Federal Realty Investment Trust from $122.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Citigroup raised shares of Federal Realty Investment Trust from a “neutral” rating to a “buy” rating and raised their target price for the stock from $120.00 to $135.00 in a research report on Friday, September 13th. Finally, Evercore ISI boosted their price target on Federal Realty Investment Trust from $120.00 to $123.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Federal Realty Investment Trust has an average rating of “Moderate Buy” and a consensus target price of $122.85.

Insider Buying and Selling at Federal Realty Investment Trust

In other news, CEO Donald C. Wood sold 30,292 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $116.17, for a total transaction of $3,519,021.64. Following the sale, the chief executive officer now directly owns 6,637 shares of the company’s stock, valued at $771,020.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Donald C. Wood sold 30,292 shares of Federal Realty Investment Trust stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $116.17, for a total transaction of $3,519,021.64. Following the completion of the sale, the chief executive officer now owns 6,637 shares of the company’s stock, valued at $771,020.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald C. Wood sold 5,937 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was 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. 1.00% of the stock is currently owned by company insiders.

Federal Realty Investment Trust Stock Performance

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

Federal Realty Investment Trust (NYSE:FRT) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.36). The firm had revenue of $295.80 million for the quarter, compared to analysts’ expectations of $293.61 million. Federal Realty Investment Trust had a net margin of 24.69% and a return on equity of 10.07%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.67 EPS. Research analysts expect that Federal Realty Investment Trust will post 6.81 EPS for the current fiscal year.

Federal Realty Investment Trust Increases Dividend

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

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.