Federal Realty Investment Trust (NYSE:FRT) was upgraded by stock analysts at UBS AG from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, November 9th, www.benzinga.com reports. The firm currently has a $141.00 price target on the real estate investment trust’s stock, up from their previous price target of $131.00. UBS AG’s price target points to a potential upside of 7.14% from the stock’s previous close.
Other research analysts also recently issued reports about the company. Mizuho reiterated a “buy” rating and issued a $142.00 price target on shares of Federal Realty Investment Trust in a report on Friday, November 3rd. Boenning Scattergood restated a “buy” rating and set a $140.00 target price on shares of Federal Realty Investment Trust in a research note on Friday, November 3rd. Citigroup Inc. boosted their target price on Federal Realty Investment Trust from $147.00 to $148.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. BidaskClub upgraded Federal Realty Investment Trust from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Bank of America Corporation upgraded Federal Realty Investment Trust from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $146.00 in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $140.50.
Shares of Federal Realty Investment Trust (NYSE FRT) traded up $0.36 during trading hours on Thursday, hitting $131.60. The stock had a trading volume of 353,500 shares, compared to its average volume of 469,496. Federal Realty Investment Trust has a twelve month low of $119.37 and a twelve month high of $145.80. The stock has a market cap of $9,521.05, a P/E ratio of 22.28, a PEG ratio of 3.70 and a beta of 0.31. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.23 and a quick ratio of 1.23.
Federal Realty Investment Trust (NYSE:FRT) last announced its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.03. Federal Realty Investment Trust had a return on equity of 13.28% and a net margin of 35.50%. The business had revenue of $217.95 million for the quarter, compared to the consensus estimate of $213.63 million. During the same period last year, the business posted $1.41 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. sell-side analysts forecast that Federal Realty Investment Trust will post 5.91 EPS for the current fiscal year.
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In related news, CEO Donald C. Wood sold 21,342 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $130.86, for a total value of $2,792,814.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dawn M. Becker sold 21,814 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $130.91, for a total value of $2,855,670.74. Following the completion of the transaction, the executive vice president now directly owns 145,809 shares of the company’s stock, valued at approximately $19,087,856.19. The disclosure for this sale can be found here. In the last three months, insiders sold 102,342 shares of company stock valued at $13,452,421. Insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank increased its stake in Federal Realty Investment Trust by 25.8% during the 2nd quarter. Toronto Dominion Bank now owns 24,471 shares of the real estate investment trust’s stock worth $3,092,000 after buying an additional 5,013 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Federal Realty Investment Trust by 1.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 113,222 shares of the real estate investment trust’s stock worth $14,310,000 after buying an additional 1,229 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Federal Realty Investment Trust by 173.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,346,294 shares of the real estate investment trust’s stock worth $296,548,000 after buying an additional 1,489,133 shares in the last quarter. Delta Lloyd Asset Management N.V. purchased a new stake in Federal Realty Investment Trust during the 2nd quarter worth approximately $12,495,000. Finally, PGGM Investments increased its stake in Federal Realty Investment Trust by 4.8% during the 3rd quarter. PGGM Investments now owns 1,299,000 shares of the real estate investment trust’s stock worth $161,349,000 after buying an additional 60,000 shares in the last quarter. 95.28% of the stock is owned by institutional investors.
About Federal Realty Investment Trust
Federal Realty Investment Trust is an equity real estate investment trust (REIT). The Company specializes in the ownership, management and redevelopment of retail and mixed-use properties located primarily in affluent communities in selected metropolitan markets in the Northeast and Mid-Atlantic regions of the United States, as well as in California and South Florida.
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