Federal Realty Investment Trust (NYSE:FRT) Raises Dividend to $1.10 Per Share

Federal Realty Investment Trust (NYSE:FRT) announced a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Investors of record on Tuesday, October 1st will be given a dividend of 1.10 per share by the real estate investment trust on Tuesday, October 15th. This represents a $4.40 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a positive change from Federal Realty Investment Trust’s previous quarterly dividend of $1.09.

Federal Realty Investment Trust has increased its dividend by an average of 5.9% per year over the last three years and has increased its dividend annually for the last 58 consecutive years. Federal Realty Investment Trust has a dividend payout ratio of 146.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Federal Realty Investment Trust to earn $7.15 per share next year, which means the company should continue to be able to cover its $4.40 annual dividend with an expected future payout ratio of 61.5%.

Federal Realty Investment Trust Stock Up 0.7 %

Shares of Federal Realty Investment Trust stock opened at $114.38 on Friday. Federal Realty Investment Trust has a 1 year low of $85.59 and a 1 year high of $118.34. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.74 and a quick ratio of 1.74. The stock has a market cap of $9.49 billion, a price-to-earnings ratio of 40.70, a PEG ratio of 2.16 and a beta of 1.24. The firm’s 50-day moving average is $113.61 and its two-hundred day moving average is $105.60.

Federal Realty Investment Trust (NYSE:FRT) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.36). The business 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 business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.67 earnings per share. As a group, research analysts expect that Federal Realty Investment Trust will post 6.81 earnings per share for the current fiscal year.

Insider Activity at Federal Realty Investment Trust

In related news, CEO Donald C. Wood sold 5,937 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $116.47, for a total value of $691,482.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Donald C. Wood sold 30,292 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $116.17, for a total value of $3,519,021.64. Following the sale, the chief executive officer now owns 6,637 shares in the company, valued at $771,020.29. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 owned by insiders.

Wall Street Analysts Forecast Growth

FRT has been the subject of several recent research reports. Piper Sandler boosted their price target on Federal Realty Investment Trust from $122.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Evercore ISI increased their price target on shares of Federal Realty Investment Trust from $120.00 to $123.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. lifted their price objective on shares of Federal Realty Investment Trust from $112.00 to $121.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Citigroup raised shares of Federal Realty Investment Trust from a “neutral” rating to a “buy” rating and increased their target price for the company from $120.00 to $135.00 in a research report on Friday, September 13th. Finally, Truist Financial lifted their price target on shares of Federal Realty Investment Trust from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.85.

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.