Federal Realty Investment Trust (NYSE:FRT) Updates FY24 Earnings Guidance

Federal Realty Investment Trust (NYSE:FRT) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $6.67-$6.87 for the period, compared to the consensus earnings per share estimate of $6.80.

Federal Realty Investment Trust Trading Down 2.8 %

Shares of Federal Realty Investment Trust stock traded down $2.90 on Friday, hitting $102.01. 1,336,869 shares of the company traded hands, compared to its average volume of 625,133. Federal Realty Investment Trust has a 52 week low of $85.27 and a 52 week high of $107.61. The company has a market cap of $8.46 billion, a PE ratio of 36.30, a PEG ratio of 1.94 and a beta of 1.20. The stock’s 50 day moving average price is $100.75 and its 200-day moving average price is $99.14. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 1.60.

Federal Realty Investment Trust (NYSE:FRT) last posted its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.76 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.88). The business had revenue of $291.50 million during the quarter, compared to the consensus estimate of $292.05 million. Federal Realty Investment Trust had a net margin of 20.55% and a return on equity of 8.34%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 EPS. Equities research analysts predict that Federal Realty Investment Trust will post 6.81 EPS for the current year.

Federal Realty Investment Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 21st will be paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Friday, June 21st. Federal Realty Investment Trust’s dividend payout ratio (DPR) is currently 155.16%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FRT. Deutsche Bank Aktiengesellschaft upgraded Federal Realty Investment Trust from a hold rating to a buy rating and lifted their target price for the company from $109.00 to $110.00 in a research note on Monday, April 22nd. Evercore ISI reduced their price objective on shares of Federal Realty Investment Trust from $115.00 to $114.00 and set an outperform rating for the company in a research note on Friday. Bank of America increased their target price on shares of Federal Realty Investment Trust from $118.00 to $124.00 and gave the company a buy rating in a research report on Friday, April 5th. Truist Financial reaffirmed a buy rating and issued a $117.00 price target on shares of Federal Realty Investment Trust in a report on Monday, March 25th. Finally, Mizuho decreased their price objective on Federal Realty Investment Trust from $104.00 to $101.00 and set a neutral rating for the company in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $113.30.

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.