Korea Investment CORP boosted its position in Federal Realty Investment Trust (NYSE:FRT) by 7,677.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,900 shares of the real estate investment trust’s stock after purchasing an additional 4,837 shares during the quarter. Korea Investment CORP’s holdings in Federal Realty Investment Trust were worth $620,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its stake in Federal Realty Investment Trust by 181.3% in the 3rd quarter. IFP Advisors Inc now owns 889 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 573 shares during the period. Qube Research & Technologies Ltd bought a new stake in Federal Realty Investment Trust in the 2nd quarter valued at $128,000. First Hawaiian Bank bought a new stake in Federal Realty Investment Trust in the 3rd quarter valued at $139,000. JNBA Financial Advisors bought a new stake in Federal Realty Investment Trust in the 3rd quarter valued at $176,000. Finally, Wolverine Asset Management LLC bought a new stake in Federal Realty Investment Trust in the 2nd quarter valued at $200,000. Institutional investors and hedge funds own 91.85% of the company’s stock.
Several analysts recently issued reports on FRT shares. Zacks Investment Research restated a “buy” rating and issued a $140.00 price target on shares of Federal Realty Investment Trust in a research note on Tuesday, November 13th. BMO Capital Markets set a $135.00 price target on Federal Realty Investment Trust and gave the company a “buy” rating in a research note on Wednesday, October 31st. Citigroup set a $146.00 price target on Federal Realty Investment Trust and gave the company a “buy” rating in a research note on Tuesday, November 20th. Bank of America boosted their price target on Federal Realty Investment Trust from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, August 13th. Finally, Deutsche Bank boosted their price target on Federal Realty Investment Trust from $133.00 to $135.00 and gave the company a “hold” rating in a research note on Tuesday, August 28th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $137.38.
NYSE:FRT opened at $134.02 on Friday. The firm has a market cap of $10.01 billion, a PE ratio of 22.68, a P/E/G ratio of 3.75 and a beta of 0.20. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.43. Federal Realty Investment Trust has a fifty-two week low of $106.41 and a fifty-two week high of $135.68.
Federal Realty Investment Trust (NYSE:FRT) last released its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.73). The company had revenue of $229.75 million for the quarter, compared to the consensus estimate of $228.71 million. Federal Realty Investment Trust had a net margin of 26.33% and a return on equity of 10.65%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 earnings per share. On average, research analysts expect that Federal Realty Investment Trust will post 6.21 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, January 2nd will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.04%. This is an increase from Federal Realty Investment Trust’s previous quarterly dividend of $1.00. The ex-dividend date is Monday, December 31st. Federal Realty Investment Trust’s dividend payout ratio is presently 69.04%.
In other news, insider Donald C. Wood sold 12,210 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $132.43, for a total transaction of $1,616,970.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
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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 densely populated, affluent communities where retail demand exceeds supply.
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