California Public Employees Retirement System Trims Stake in Federal Realty Investment Trust (NYSE:FRT)

California Public Employees Retirement System decreased its position in shares of Federal Realty Investment Trust (NYSE:FRTGet Rating) by 3.3% during the fourth quarter, Holdings Channel reports. The fund owned 170,687 shares of the real estate investment trust’s stock after selling 5,757 shares during the period. California Public Employees Retirement System’s holdings in Federal Realty Investment Trust were worth $23,268,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Waterfront Capital Partners LLC grew its stake in shares of Federal Realty Investment Trust by 64.5% in the 3rd quarter. Waterfront Capital Partners LLC now owns 605,515 shares of the real estate investment trust’s stock worth $71,445,000 after buying an additional 237,501 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Federal Realty Investment Trust by 180.3% in the 3rd quarter. Alliancebernstein L.P. now owns 365,828 shares of the real estate investment trust’s stock worth $43,164,000 after buying an additional 235,312 shares during the last quarter. Cohen & Steers Inc. grew its stake in shares of Federal Realty Investment Trust by 8.8% in the 3rd quarter. Cohen & Steers Inc. now owns 2,680,579 shares of the real estate investment trust’s stock worth $316,350,000 after buying an additional 216,273 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Federal Realty Investment Trust in the 3rd quarter worth approximately $13,191,000. Finally, Balyasny Asset Management LLC lifted its position in Federal Realty Investment Trust by 867.0% in the 3rd quarter. Balyasny Asset Management LLC now owns 104,392 shares of the real estate investment trust’s stock valued at $12,317,000 after acquiring an additional 93,597 shares in the last quarter. Hedge funds and other institutional investors own 86.07% of the company’s stock.

FRT has been the topic of several analyst reports. Raymond James raised Federal Realty Investment Trust from a “market perform” rating to a “strong-buy” rating and set a $140.00 price objective on the stock in a research report on Thursday. Capital One Financial raised Federal Realty Investment Trust from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $130.00 to $145.00 in a research report on Wednesday, February 9th. Mizuho lowered their price objective on Federal Realty Investment Trust from $142.00 to $129.00 and set a “buy” rating on the stock in a research report on Tuesday, February 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on Federal Realty Investment Trust from $150.00 to $143.00 and set a “buy” rating on the stock in a research report on Thursday, March 31st. Finally, Wells Fargo & Company lowered their price objective on Federal Realty Investment Trust from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 7th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $134.42.

NYSE FRT opened at $115.97 on Friday. Federal Realty Investment Trust has a 1-year low of $108.53 and a 1-year high of $140.51. The business’s fifty day moving average price is $119.31 and its 200-day moving average price is $124.34. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 3.55 and a beta of 1.09. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.50 and a quick ratio of 1.50.

Federal Realty Investment Trust (NYSE:FRTGet Rating) last announced its earnings results on Thursday, May 5th. The real estate investment trust reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.81). Federal Realty Investment Trust had a return on equity of 10.76% and a net margin of 26.80%. The company had revenue of $256.80 million during the quarter, compared to the consensus estimate of $249.13 million. During the same period in the prior year, the business posted $1.17 earnings per share. Federal Realty Investment Trust’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities research analysts anticipate that Federal Realty Investment Trust will post 5.97 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, June 22nd will be issued a $1.07 dividend. The ex-dividend date is Tuesday, June 21st. This represents a $4.28 dividend on an annualized basis and a yield of 3.69%. Federal Realty Investment Trust’s dividend payout ratio is currently 130.49%.

Federal Realty Investment Trust Profile (Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Federal Realty Investment Trust (NYSE:FRT)

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