Federal Realty Investment Trust (NYSE:FRT) Announces Earnings Results

Federal Realty Investment Trust (NYSE:FRTGet Free Report) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.88), MarketWatch Earnings reports. The firm had revenue of $291.50 million for the quarter, compared to the consensus estimate of $292.05 million. Federal Realty Investment Trust had a net margin of 25.76% and a return on equity of 10.18%. Federal Realty Investment Trust’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 earnings per share. Federal Realty Investment Trust updated its FY24 guidance to $6.65-6.87 EPS.

Federal Realty Investment Trust Stock Down 0.4 %

Shares of NYSE:FRT opened at $100.72 on Tuesday. The stock has a fifty day simple moving average of $102.32 and a two-hundred day simple moving average of $97.22. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 3.38 and a beta of 1.23. Federal Realty Investment Trust has a 12-month low of $85.27 and a 12-month high of $112.58. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.61.

Insider Buying and Selling at Federal Realty Investment Trust

In other Federal Realty Investment Trust news, CEO Donald C. Wood sold 345 shares of Federal Realty Investment Trust stock in a transaction on Monday, December 4th. The stock was sold at an average price of $99.91, for a total transaction of $34,468.95. Following the completion of the transaction, the chief executive officer now owns 209,259 shares in the company, valued at $20,907,066.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Donald C. Wood sold 345 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $99.91, for a total value of $34,468.95. Following the completion of the transaction, the chief executive officer now owns 209,259 shares in the company, valued at $20,907,066.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey S. Berkes sold 4,870 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $94.86, for a total value of $461,968.20. Following the completion of the transaction, the chief operating officer now owns 65,470 shares of the company’s stock, valued at approximately $6,210,484.20. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FRT. Brown Brothers Harriman & Co. grew its holdings in shares of Federal Realty Investment Trust by 237.0% in the first quarter. Brown Brothers Harriman & Co. now owns 337 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 237 shares during the period. Parkside Financial Bank & Trust bought a new stake in shares of Federal Realty Investment Trust in the first quarter worth $60,000. Lazard Asset Management LLC grew its holdings in shares of Federal Realty Investment Trust by 14.4% in the third quarter. Lazard Asset Management LLC now owns 1,006 shares of the real estate investment trust’s stock worth $91,000 after acquiring an additional 127 shares during the period. Sunbelt Securities Inc. bought a new stake in shares of Federal Realty Investment Trust in the first quarter worth $114,000. Finally, HBK Sorce Advisory LLC bought a new stake in shares of Federal Realty Investment Trust in the first quarter worth $255,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Analyst Ratings Changes

FRT has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft began coverage on Federal Realty Investment Trust in a research report on Tuesday, January 30th. They set a “hold” rating and a $109.00 price objective on the stock. Evercore ISI upgraded Federal Realty Investment Trust from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $104.00 to $108.00 in a research report on Monday, November 27th. Truist Financial upgraded Federal Realty Investment Trust from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $108.00 to $117.00 in a research report on Tuesday, January 16th. Mizuho lifted their price objective on Federal Realty Investment Trust from $98.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Finally, Piper Sandler lifted their price objective on Federal Realty Investment Trust from $116.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 20th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Federal Realty Investment Trust presently has an average rating of “Moderate Buy” and a consensus price target of $111.67.

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About Federal Realty Investment Trust

(Get Free Report)

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.

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Earnings History for Federal Realty Investment Trust (NYSE:FRT)

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