Point72 DIFC Ltd acquired a new position in Federal Realty Investment Trust (NYSE:FRT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 7,444 shares of the real estate investment trust's stock, valued at approximately $752,000.
Other hedge funds also recently made changes to their positions in the company. Family Firm Inc. purchased a new position in shares of Federal Realty Investment Trust during the second quarter valued at approximately $33,000. Blue Trust Inc. boosted its stake in Federal Realty Investment Trust by 885.7% in the 2nd 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 in the last quarter. Rothschild Investment LLC purchased a new stake in Federal Realty Investment Trust during the 2nd quarter valued at about $42,000. Quarry LP bought a new stake in Federal Realty Investment Trust during the 4th quarter valued at about $50,000. Finally, Richardson Financial Services Inc. purchased a new position in Federal Realty Investment Trust in the fourth quarter worth about $51,000. 93.86% of the stock is owned by hedge funds and other institutional investors.
FRT has been the topic of several analyst reports. Compass Point upped their price objective on Federal Realty Investment Trust from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, September 10th. Truist Financial boosted their price objective on 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. Citigroup raised shares of Federal Realty Investment Trust from a "neutral" rating to a "buy" rating and lifted their price target for the company from $120.00 to $135.00 in a report on Friday, September 13th. JPMorgan Chase & Co. increased their price objective on shares of Federal Realty Investment Trust from $112.00 to $121.00 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. Finally, Mizuho upped their price target on Federal Realty Investment Trust from $104.00 to $116.00 and gave the stock a "neutral" rating in a research note on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $122.85.
Check Out Our Latest Stock Analysis on Federal Realty Investment Trust
Shares of FRT stock opened at $114.82 on Thursday. The company has a market capitalization of $9.52 billion, a P/E ratio of 40.86, a P/E/G ratio of 2.16 and a beta of 1.24. The company's 50-day simple moving average is $113.43 and its two-hundred day simple moving average is $105.47. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.74 and a quick ratio of 1.74. Federal Realty Investment Trust has a one year low of $85.59 and a one year high of $118.34.
Federal Realty Investment Trust (NYSE:FRT - Get Free Report) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.36). The company had revenue of $295.80 million for the quarter, compared to the consensus estimate of $293.61 million. Federal Realty Investment Trust had a net margin of 24.69% and a return on equity of 10.07%. The firm's revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business posted $1.67 EPS. As a group, equities analysts anticipate that Federal Realty Investment Trust will post 6.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 3.83%. This is an increase 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 payout ratio is 156.58%.
In related news, CEO Donald C. Wood sold 30,292 shares of the business's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $116.17, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Federal Realty Investment Trust news, CEO Donald C. Wood sold 30,292 shares of Federal Realty Investment Trust stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $116.17, for a total transaction of $3,519,021.64. Following the completion of the transaction, the chief executive officer now owns 6,637 shares in the company, valued at approximately $771,020.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Donald C. Wood sold 5,937 shares of the business's stock in a transaction dated 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. Insiders own 1.00% of the company's stock.
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.
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