Citigroup Inc. Has $27.60 Million Stock Position in Federal Realty Investment Trust (NYSE:FRT)

Citigroup Inc. increased its stake in shares of Federal Realty Investment Trust (NYSE:FRT) by 65.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 240,048 shares of the real estate investment trust’s stock after purchasing an additional 95,185 shares during the period. Citigroup Inc. owned approximately 0.29% of Federal Realty Investment Trust worth $27,598,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC bought a new position in Federal Realty Investment Trust during the first quarter worth about $231,000. Price T Rowe Associates Inc. MD boosted its stake in Federal Realty Investment Trust by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 309,103 shares of the real estate investment trust’s stock worth $31,567,000 after acquiring an additional 19,453 shares during the last quarter. Tidal Investments LLC bought a new position in Federal Realty Investment Trust during the 1st quarter worth approximately $252,000. iA Global Asset Management Inc. grew its holdings in Federal Realty Investment Trust by 19.5% during the first quarter. iA Global Asset Management Inc. now owns 2,221 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 362 shares during the period. Finally, Highlander Capital Management LLC increased its stake in Federal Realty Investment Trust by 232.8% in the first quarter. Highlander Capital Management LLC now owns 832 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 582 shares in the last quarter. Institutional investors own 93.86% of the company’s stock.

Federal Realty Investment Trust Price Performance

NYSE FRT opened at $115.98 on Tuesday. The firm’s 50 day moving average is $113.27 and its 200-day moving average is $109.05. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $9.62 billion, a PE ratio of 33.72, a price-to-earnings-growth ratio of 2.19 and a beta of 1.24. Federal Realty Investment Trust has a 12-month low of $91.62 and a 12-month high of $118.34.

Federal Realty Investment Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $1.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $4.40 annualized dividend and a yield of 3.79%. Federal Realty Investment Trust’s payout ratio is currently 127.91%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Scotiabank boosted their price target on shares of Federal Realty Investment Trust from $119.00 to $126.00 and gave the company a “sector outperform” rating in a report on Monday. Truist Financial increased their price target on Federal Realty Investment Trust from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Citigroup upgraded Federal Realty Investment Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $120.00 to $135.00 in a report on Friday, September 13th. JPMorgan Chase & Co. increased their target price on Federal Realty Investment Trust from $121.00 to $122.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Finally, Compass Point lifted their price target on shares of Federal Realty Investment Trust from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.38.

Insiders Place Their Bets

In related news, CEO Donald C. Wood sold 5,937 shares of Federal Realty Investment Trust stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $116.47, for a total value of $691,482.39. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

About Federal Realty Investment Trust

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.