Independent Advisor Alliance Sells 197 Shares of Federal Realty Investment Trust (NYSE:FRT)

Independent Advisor Alliance lessened its holdings in Federal Realty Investment Trust (NYSE:FRT) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,147 shares of the real estate investment trust’s stock after selling 197 shares during the quarter. Independent Advisor Alliance’s holdings in Federal Realty Investment Trust were worth $707,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Daiwa Securities Group Inc. raised its holdings in Federal Realty Investment Trust by 8.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 32,616 shares of the real estate investment trust’s stock worth $3,750,000 after purchasing an additional 2,481 shares during the last quarter. Algert Global LLC raised its holdings in Federal Realty Investment Trust by 72.1% during the 3rd quarter. Algert Global LLC now owns 44,828 shares of the real estate investment trust’s stock worth $5,154,000 after purchasing an additional 18,780 shares during the last quarter. Cerity Partners LLC raised its holdings in Federal Realty Investment Trust by 47.0% during the 3rd quarter. Cerity Partners LLC now owns 4,382 shares of the real estate investment trust’s stock worth $504,000 after purchasing an additional 1,401 shares during the last quarter. Meridian Wealth Management LLC bought a new position in Federal Realty Investment Trust during the 3rd quarter worth approximately $1,322,000. Finally, Citigroup Inc. raised its holdings in Federal Realty Investment Trust by 65.7% during the 3rd quarter. Citigroup Inc. now owns 240,048 shares of the real estate investment trust’s stock worth $27,598,000 after purchasing an additional 95,185 shares during the last quarter. Institutional investors own 93.86% of the company’s stock.

Federal Realty Investment Trust Stock Performance

NYSE FRT opened at $117.53 on Thursday. The company has a fifty day simple moving average of $113.25 and a 200 day simple moving average of $109.24. Federal Realty Investment Trust has a 12-month low of $92.78 and a 12-month high of $118.34. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.48. The company has a market cap of $9.75 billion, a P/E ratio of 34.17, a PEG ratio of 2.30 and a beta of 1.24.

Federal Realty Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Thursday, January 2nd. Federal Realty Investment Trust’s payout ratio is currently 127.91%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Federal Realty Investment Trust from $115.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Citigroup upgraded shares of Federal Realty Investment Trust from a “neutral” rating to a “buy” rating and raised their price target for the stock from $120.00 to $135.00 in a report on Friday, September 13th. Piper Sandler lifted their price objective on shares of Federal Realty Investment Trust from $122.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Scotiabank lifted their price objective on shares of Federal Realty Investment Trust from $119.00 to $126.00 and gave the company a “sector outperform” rating in a research note on Monday. Finally, Raymond James lifted their price objective on shares of Federal Realty Investment Trust from $108.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Federal Realty Investment Trust currently has an average rating of “Moderate Buy” and a consensus price target of $123.38.

Insiders Place Their Bets

In other Federal Realty Investment Trust news, CEO Donald C. Wood sold 5,937 shares of Federal Realty Investment Trust 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 SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

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.