Evercore ISI Trims Federal Realty Investment Trust (NYSE:FRT) Target Price to $114.00

Federal Realty Investment Trust (NYSE:FRT) had its price target cut by Evercore ISI from $115.00 to $114.00 in a research note released on Friday morning, Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on FRT. Deutsche Bank Aktiengesellschaft raised Federal Realty Investment Trust from a hold rating to a buy rating and raised their target price for the company from $109.00 to $110.00 in a report on Monday, April 22nd. Barclays boosted 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. Truist Financial reissued a buy rating and set a $117.00 target price on shares of Federal Realty Investment Trust in a research report on Monday, March 25th. Scotiabank cut their price target on Federal Realty Investment Trust from $110.00 to $109.00 and set a sector outperform rating for the company in a report on Wednesday, February 28th. Finally, Bank of America lifted their price objective on Federal Realty Investment Trust from $118.00 to $124.00 and gave the stock a buy rating in a report on Friday, April 5th. 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, Federal Realty Investment Trust has a consensus rating of Moderate Buy and a consensus price target of $113.30.

Federal Realty Investment Trust Stock Down 2.8 %

FRT opened at $102.01 on Friday. The firm has a market cap of $8.46 billion, a P/E ratio of 36.30, a price-to-earnings-growth ratio of 1.94 and a beta of 1.20. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.69 and a current ratio of 1.69. The business has a 50 day moving average price of $100.75 and a 200 day moving average price of $99.22. 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 quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.88). 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 return on equity of 8.34% and a net margin of 20.55%. Federal Realty Investment Trust’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.58 earnings per share. Research analysts forecast that Federal Realty Investment Trust will post 6.81 EPS for the current year.

Federal Realty Investment Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 21st will be issued a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a yield of 4.27%. The ex-dividend date is Friday, June 21st. Federal Realty Investment Trust’s dividend payout ratio is currently 155.16%.

Institutional Trading of Federal Realty Investment Trust

Hedge funds have recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new stake in Federal Realty Investment Trust during the 1st quarter valued at $74,000. Daiwa Securities Group Inc. increased its stake in shares of Federal Realty Investment Trust by 11.1% in the first quarter. Daiwa Securities Group Inc. now owns 29,559 shares of the real estate investment trust’s stock valued at $3,019,000 after buying an additional 2,949 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Federal Realty Investment Trust by 6.5% in the first quarter. Janney Montgomery Scott LLC now owns 122,375 shares of the real estate investment trust’s stock valued at $12,497,000 after buying an additional 7,424 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Federal Realty Investment Trust by 9.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,043 shares of the real estate investment trust’s stock worth $2,387,000 after buying an additional 2,022 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Federal Realty Investment Trust by 3.8% during the 1st quarter. Van ECK Associates Corp now owns 32,111 shares of the real estate investment trust’s stock worth $3,279,000 after acquiring an additional 1,184 shares during the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

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.