Federal Realty Investment Trust (NYSE:FRT) Issues Earnings Results, Misses Expectations By $0.36 EPS

Federal Realty Investment Trust (NYSE:FRT) announced its quarterly earnings data on Thursday. The real estate investment trust reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.36), RTT News reports. The firm had revenue of $295.80 million during the quarter, compared to the consensus estimate of $293.61 million. Federal Realty Investment Trust had a return on equity of 10.14% and a net margin of 24.69%. Federal Realty Investment Trust’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.67 EPS. Federal Realty Investment Trust updated its FY24 guidance to $6.70-6.88 EPS and its FY 2024 guidance to 6.700-6.880 EPS.

Federal Realty Investment Trust Price Performance

Shares of FRT stock traded down $0.32 during trading hours on Friday, reaching $112.48. 979,478 shares of the company were exchanged, compared to its average volume of 492,730. Federal Realty Investment Trust has a fifty-two week low of $85.59 and a fifty-two week high of $115.05. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.69 and a quick ratio of 1.69. The stock’s fifty day moving average is $103.57 and its two-hundred day moving average is $101.90. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 40.03, a P/E/G ratio of 2.26 and a beta of 1.23.

Federal Realty Investment Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be paid a $1.10 dividend. The ex-dividend date is Tuesday, October 1st. This is an increase from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.91%. Federal Realty Investment Trust’s payout ratio is currently 155.16%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FRT shares. Scotiabank boosted their price target on shares of Federal Realty Investment Trust from $109.00 to $112.00 and gave the company a “sector outperform” rating in a report on Thursday, May 16th. Evercore ISI lowered their price objective on Federal Realty Investment Trust from $115.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Mizuho raised their target price on Federal Realty Investment Trust from $101.00 to $104.00 and gave the stock a “neutral” rating in a research report on Thursday, May 23rd. Truist Financial lowered their price target on Federal Realty Investment Trust from $117.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Finally, Bank of America lifted their price objective on Federal Realty Investment Trust from $118.00 to $124.00 and gave the company a “buy” rating in a report on Friday, April 5th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.30.

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.