Federal Realty Investment Trust (NYSE:FRT) Issues Earnings Results

Federal Realty Investment Trust (NYSE:FRT) released 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. Federal Realty Investment Trust had a return on equity of 10.14% and a net margin of 24.69%. The company had revenue of $295.80 million for the quarter, compared to the consensus estimate of $293.61 million. During the same period last year, the firm earned $1.67 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. 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

NYSE FRT traded down $0.32 during trading on Friday, hitting $112.48. 979,478 shares of the company’s stock were exchanged, compared to its average volume of 492,730. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.59. The company has a market cap of $9.33 billion, a PE ratio of 40.03, a P/E/G ratio of 2.26 and a beta of 1.23. Federal Realty Investment Trust has a fifty-two week low of $85.59 and a fifty-two week high of $115.05. The stock’s 50 day moving average price is $103.57 and its two-hundred day moving average price is $101.90.

Federal Realty Investment Trust Increases Dividend

The firm 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 dividend of $1.10 per share. This is an increase from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $4.40 annualized dividend and a yield of 3.91%. Federal Realty Investment Trust’s payout ratio is presently 155.16%.

Analyst Upgrades and Downgrades

A number of research firms have commented on FRT. Truist Financial reduced their price objective on shares of Federal Realty Investment Trust from $117.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Scotiabank boosted their target price on shares of Federal Realty Investment Trust from $109.00 to $112.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 16th. Deutsche Bank Aktiengesellschaft raised shares of Federal Realty Investment Trust from a “hold” rating to a “buy” rating and boosted their target price for the company from $109.00 to $110.00 in a research report on Monday, April 22nd. Evercore ISI reduced their target price on shares of Federal Realty Investment Trust from $115.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, Wells Fargo & Company boosted their target price on shares of Federal Realty Investment Trust from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.