Park Avenue Securities LLC Decreases Holdings in Federal Realty Investment Trust (NYSE:FRT)

Park Avenue Securities LLC reduced its position in Federal Realty Investment Trust (NYSE:FRT) by 15.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,633 shares of the real estate investment trust’s stock after selling 859 shares during the period. Park Avenue Securities LLC’s holdings in Federal Realty Investment Trust were worth $533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of FRT. Westwood Holdings Group Inc. boosted its position in Federal Realty Investment Trust by 571.1% in the second quarter. Westwood Holdings Group Inc. now owns 642,446 shares of the real estate investment trust’s stock worth $64,868,000 after purchasing an additional 546,711 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Federal Realty Investment Trust by 304.0% in the second quarter. Millennium Management LLC now owns 415,603 shares of the real estate investment trust’s stock worth $41,963,000 after buying an additional 312,726 shares during the last quarter. Vanguard Group Inc. grew its position in 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 increased its holdings in 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, Goldman Sachs Group Inc. raised its position in Federal Realty Investment Trust by 29.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 407,585 shares of the real estate investment trust’s stock worth $42,002,000 after acquiring an additional 93,048 shares during the period. Institutional investors own 93.86% of the company’s stock.

Federal Realty Investment Trust Price Performance

Shares of NYSE:FRT opened at $111.45 on Friday. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 39.66, a P/E/G ratio of 2.11 and a beta of 1.23. The firm has a fifty day moving average price of $113.81 and a 200 day moving average price of $106.39. Federal Realty Investment Trust has a fifty-two week low of $85.59 and a fifty-two week 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 released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $1.32 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.36). Federal Realty Investment Trust had a net margin of 24.69% and a return on equity of 10.07%. The company had revenue of $295.80 million for the quarter, compared to the consensus estimate of $293.61 million. During the same period last year, the company earned $1.67 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Federal Realty Investment Trust will post 6.81 earnings per share for the current fiscal year.

Federal Realty Investment Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 3.95%. This is a boost from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. The ex-dividend date is Tuesday, October 1st. Federal Realty Investment Trust’s dividend payout ratio is 156.58%.

Analyst Upgrades and Downgrades

FRT has been the subject of a number of recent research reports. 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. Truist Financial upped their price target on Federal Realty Investment Trust from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Wells Fargo & Company raised their price objective on Federal Realty Investment Trust from $115.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Evercore ISI boosted their price objective on Federal Realty Investment Trust from $120.00 to $123.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Finally, Citigroup upgraded 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 note on Friday, September 13th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $122.77.

Insider Activity

In related news, CEO Donald C. Wood sold 5,937 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $116.47, for a total value of $691,482.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Donald C. Wood sold 30,292 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 6,637 shares of the company’s stock, valued at $771,020.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Donald C. Wood sold 5,937 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $116.47, for a total value of $691,482.39. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.