Deerfield Management Company L.P. Series C Acquires Shares of 2,521 Federal Realty Investment Trust (NYSE:FRT)

Deerfield Management Company L.P. Series C bought a new position in shares of Federal Realty Investment Trust (NYSE:FRT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,521 shares of the real estate investment trust’s stock, valued at approximately $255,000.

Several other large investors also recently bought and sold shares of FRT. Family Firm Inc. acquired a new stake in shares of Federal Realty Investment Trust in the second quarter worth approximately $33,000. Blue Trust Inc. lifted its stake in shares of Federal Realty Investment Trust by 885.7% in the second quarter. Blue Trust Inc. now owns 345 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 310 shares in the last quarter. Rothschild Investment LLC acquired a new position in Federal Realty Investment Trust during the second quarter worth about $42,000. Quarry LP purchased a new stake in Federal Realty Investment Trust during the 4th quarter valued at about $50,000. Finally, Richardson Financial Services Inc. acquired a new stake in Federal Realty Investment Trust in the 4th quarter valued at about $51,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Federal Realty Investment Trust Stock Performance

NYSE:FRT opened at $114.38 on Friday. 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. The company has a 50 day moving average price of $113.61 and a 200 day moving average price of $105.60. The stock has a market capitalization of $9.49 billion, a P/E ratio of 40.70, a PEG ratio of 2.16 and a beta of 1.24.

Federal Realty Investment Trust (NYSE:FRT) last released its quarterly earnings results 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). The firm had revenue of $295.80 million for the quarter, compared to analysts’ expectations of $293.61 million. Federal Realty Investment Trust had a return on equity of 10.07% and a net margin of 24.69%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 earnings per share. Equities research analysts forecast that Federal Realty Investment Trust will post 6.81 EPS for the current year.

Federal Realty Investment Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a dividend of $1.10 per share. 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. This represents a $4.40 dividend on an annualized basis and a yield of 3.85%. Federal Realty Investment Trust’s dividend payout ratio is 156.58%.

Analyst Ratings Changes

FRT has been the subject of a number of analyst reports. Piper Sandler upped their price target on 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. Mizuho upped their target price on Federal Realty Investment Trust from $104.00 to $116.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Citigroup upgraded Federal Realty Investment Trust from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $120.00 to $135.00 in a report on Friday, September 13th. Compass Point upped their price objective on shares of Federal Realty Investment Trust from $125.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Truist Financial lifted their target price on shares of Federal Realty Investment Trust from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $122.85.

Insider Activity

In related news, CEO Donald C. Wood sold 5,937 shares of the company’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 transaction of $691,482.39. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Donald C. Wood sold 30,292 shares of Federal Realty Investment Trust stock in a transaction 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 transaction, the chief executive officer now directly owns 6,637 shares in the company, valued at $771,020.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Donald C. Wood sold 5,937 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was 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. Insiders own 1.00% of the company’s stock.

Federal Realty Investment Trust 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.