Bank of New York Mellon Corp Sells 74,236 Shares of Federal Realty Investment Trust $FRT

Bank of New York Mellon Corp trimmed its position in Federal Realty Investment Trust (NYSE:FRT) by 9.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 683,795 shares of the real estate investment trust’s stock after selling 74,236 shares during the period. Bank of New York Mellon Corp’s holdings in Federal Realty Investment Trust were worth $68,927,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Federal Realty Investment Trust during the 4th quarter worth approximately $734,290,000. State Street Corp increased its holdings in Federal Realty Investment Trust by 1.4% during the 3rd quarter. State Street Corp now owns 6,668,743 shares of the real estate investment trust’s stock worth $675,610,000 after purchasing an additional 90,127 shares in the last quarter. Resolution Capital Ltd increased its holdings in Federal Realty Investment Trust by 11.8% during the 2nd quarter. Resolution Capital Ltd now owns 3,264,653 shares of the real estate investment trust’s stock worth $310,109,000 after purchasing an additional 344,189 shares in the last quarter. Geode Capital Management LLC increased its holdings in Federal Realty Investment Trust by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 2,198,241 shares of the real estate investment trust’s stock worth $221,217,000 after purchasing an additional 23,214 shares in the last quarter. Finally, Rush Island Management LP increased its holdings in Federal Realty Investment Trust by 13.3% during the 2nd quarter. Rush Island Management LP now owns 1,605,736 shares of the real estate investment trust’s stock worth $152,529,000 after purchasing an additional 188,116 shares in the last quarter. 93.86% of the stock is owned by institutional investors.

Federal Realty Investment Trust Price Performance

Federal Realty Investment Trust stock opened at $124.37 on Wednesday. Federal Realty Investment Trust has a 12 month low of $89.99 and a 12 month high of $125.01. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.51. The business’s 50 day simple moving average is $113.80 and its 200 day simple moving average is $106.67. The company has a market cap of $10.74 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 2.91 and a beta of 0.94.

Federal Realty Investment Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, July 1st. Federal Realty Investment Trust’s dividend payout ratio (DPR) is 78.47%.

Analyst Upgrades and Downgrades

A number of analysts have commented on FRT shares. Citigroup boosted their price objective on Federal Realty Investment Trust from $106.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft raised Federal Realty Investment Trust from a “hold” rating to a “buy” rating and set a $135.00 price objective for the company in a report on Friday, May 29th. Evercore set a $110.00 target price on Federal Realty Investment Trust in a report on Monday, May 4th. Wells Fargo & Company upped their target price on Federal Realty Investment Trust from $120.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings raised Federal Realty Investment Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.21.

About Federal Realty Investment Trust

Federal Realty Investment Trust (NYSE: FRT) is a real estate investment trust specializing in the ownership, management, and redevelopment of high-quality retail, restaurant, and mixed-use properties. With a strategic focus on open-air shopping centers and lifestyle-oriented urban destinations, the company partners with leading national and regional retailers to curate environments that blend shopping, dining, entertainment, office, and residential uses. Its asset management capabilities extend from initial site selection and development through ongoing property operations and tenant relations.

Federal Realty’s portfolio comprises approximately 100 properties totaling more than 25 million square feet of gross leasable area.