Federal Realty Investment Trust (NYSE:FRT) Raises Dividend to $1.10 Per Share

Federal Realty Investment Trust (NYSE:FRT) announced a quarterly dividend on Thursday, August 1st, Wall Street Journal reports. Shareholders of record on Tuesday, October 1st will be paid a dividend of 1.10 per share by the real estate investment trust on Tuesday, October 15th. This represents a $4.40 annualized dividend and a yield of 3.91%. The ex-dividend date is Tuesday, October 1st. This is a positive change from Federal Realty Investment Trust’s previous quarterly dividend of $1.09.

Federal Realty Investment Trust has raised its dividend payment by an average of 5.9% per year over the last three years and has increased its dividend annually for the last 57 consecutive years. Federal Realty Investment Trust has a dividend payout ratio of 142.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Federal Realty Investment Trust to earn $7.13 per share next year, which means the company should continue to be able to cover its $4.36 annual dividend with an expected future payout ratio of 61.2%.

Federal Realty Investment Trust Stock Down 0.3 %

Shares of FRT stock opened at $112.41 on Friday. The firm has a fifty day moving average of $103.57 and a 200-day moving average of $101.90. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.59. Federal Realty Investment Trust has a 12-month low of $85.59 and a 12-month high of $115.05. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 40.00, a P/E/G ratio of 2.26 and a beta of 1.23.

Federal Realty Investment Trust (NYSE:FRT) last issued its quarterly earnings data 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). Federal Realty Investment Trust had a return on equity of 10.14% and a net margin of 24.69%. The company had revenue of $295.80 million for the quarter, compared to the consensus estimate of $293.61 million. During the same period in the prior year, the company earned $1.67 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts predict that Federal Realty Investment Trust will post 6.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of Federal Realty Investment Trust from $118.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Scotiabank raised their target price on shares of Federal Realty Investment Trust from $109.00 to $112.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 16th. Truist Financial decreased their target price on shares of Federal Realty Investment Trust from $117.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Evercore ISI decreased their target price on shares of Federal Realty Investment Trust from $115.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, Wells Fargo & Company raised their target price on shares of Federal Realty Investment Trust from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Federal Realty Investment Trust currently has a consensus rating of “Moderate Buy” and an average price target of $115.30.

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.