PNC Financial Services Group Inc. Grows Stake in Federal Realty Investment Trust (NYSE:FRT)

PNC Financial Services Group Inc. increased its stake in Federal Realty Investment Trust (NYSE:FRT) by 5.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,426 shares of the real estate investment trust’s stock after acquiring an additional 1,664 shares during the period. PNC Financial Services Group Inc.’s holdings in Federal Realty Investment Trust were worth $3,613,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FRT. NBC Securities Inc. lifted its stake in Federal Realty Investment Trust by 81.7% in the third quarter. NBC Securities Inc. now owns 238 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 107 shares during the last quarter. Family Firm Inc. bought a new stake in Federal Realty Investment Trust in the second quarter worth about $33,000. Blue Trust Inc. lifted its stake in 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 purchasing an additional 310 shares during the last quarter. Rothschild Investment LLC bought a new stake in Federal Realty Investment Trust in the second quarter worth about $42,000. Finally, Eastern Bank bought a new stake in Federal Realty Investment Trust in the third quarter worth about $52,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FRT. Truist Financial lifted their price target on shares of Federal Realty Investment Trust from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Raymond James boosted their price objective on shares of Federal Realty Investment Trust from $108.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Piper Sandler boosted their price objective on shares of Federal Realty Investment Trust from $122.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Evercore ISI boosted their price objective on shares of Federal Realty Investment Trust from $120.00 to $123.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. Finally, Citigroup raised shares of Federal Realty Investment Trust from a “neutral” rating to a “buy” rating and boosted their price objective 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.85.

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 transaction of $691,482.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Federal Realty Investment Trust Price Performance

NYSE FRT opened at $114.86 on Monday. The firm has a market capitalization of $9.53 billion, a P/E ratio of 33.39, a P/E/G ratio of 2.18 and a beta of 1.24. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.48. Federal Realty Investment Trust has a 12-month low of $91.40 and a 12-month high of $118.34. The firm’s fifty day simple moving average is $113.27 and its two-hundred day simple moving average is $109.05.

Federal Realty Investment Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Thursday, January 2nd. Federal Realty Investment Trust’s dividend payout ratio (DPR) is presently 127.91%.

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.