Mackenzie Financial Corp Sells 16,526 Shares of Federal Realty Investment Trust (NYSE:FRT)

Mackenzie Financial Corp trimmed its holdings in Federal Realty Investment Trust (NYSE:FRT) by 82.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,589 shares of the real estate investment trust’s stock after selling 16,526 shares during the period. Mackenzie Financial Corp’s holdings in Federal Realty Investment Trust were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in FRT. State of Michigan Retirement System raised its holdings in shares of Federal Realty Investment Trust by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 20,162 shares of the real estate investment trust’s stock valued at $2,078,000 after purchasing an additional 100 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Federal Realty Investment Trust by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 36,527 shares of the real estate investment trust’s stock valued at $3,310,000 after purchasing an additional 130 shares during the last quarter. Mariner LLC raised its holdings in shares of Federal Realty Investment Trust by 2.2% in the third quarter. Mariner LLC now owns 6,264 shares of the real estate investment trust’s stock valued at $568,000 after purchasing an additional 134 shares during the last quarter. CWM LLC raised its holdings in shares of Federal Realty Investment Trust by 15.0% in the third quarter. CWM LLC now owns 1,053 shares of the real estate investment trust’s stock valued at $95,000 after purchasing an additional 137 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Federal Realty Investment Trust by 57.7% during the third quarter. Parkside Financial Bank & Trust now owns 421 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 154 shares during the last quarter. 93.86% of the stock is owned by institutional investors.

Federal Realty Investment Trust Price Performance

FRT opened at $102.19 on Friday. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 36.50, a PEG ratio of 1.95 and a beta of 1.21. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 1.60. The firm has a 50-day moving average price of $100.30 and a 200-day moving average price of $98.59. Federal Realty Investment Trust has a twelve month low of $85.27 and a twelve month high of $107.61.

Federal Realty Investment Trust (NYSE:FRT) last posted its earnings results on Monday, February 12th. The real estate investment trust reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.88). Federal Realty Investment Trust had a return on equity of 8.35% and a net margin of 20.93%. The business had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $292.05 million. During the same quarter in the previous year, the business earned $1.58 EPS. Federal Realty Investment Trust’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities analysts expect that Federal Realty Investment Trust will post 6.8 EPS for the current year.

Federal Realty Investment Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, March 13th were given a $1.09 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 4.27%. Federal Realty Investment Trust’s dividend payout ratio (DPR) is currently 155.71%.

Analyst Ratings Changes

A number of research firms recently issued reports on FRT. Deutsche Bank Aktiengesellschaft upgraded shares of Federal Realty Investment Trust from a “hold” rating to a “buy” rating and raised their price objective for the stock from $109.00 to $110.00 in a report on Monday, April 22nd. Bank of America raised their price objective on shares of Federal Realty Investment Trust from $118.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Mizuho decreased their price objective on shares of Federal Realty Investment Trust from $104.00 to $101.00 and set a “neutral” rating for the company in a report on Friday, February 23rd. Truist Financial restated a “buy” rating and set a $117.00 price objective on shares of Federal Realty Investment Trust in a report on Monday, March 25th. Finally, Barclays raised their price objective on shares of Federal Realty Investment Trust from $119.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $112.70.

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.