Lecap Asset Management Ltd. Makes New $1.23 Million Investment in Federal Realty Investment Trust (NYSE:FRT)

Lecap Asset Management Ltd. purchased a new stake in shares of Federal Realty Investment Trust (NYSE:FRT) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 12,135 shares of the real estate investment trust’s stock, valued at approximately $1,225,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in Federal Realty Investment Trust by 133.3% during the first quarter. SG Americas Securities LLC now owns 45,035 shares of the real estate investment trust’s stock worth $4,599,000 after acquiring an additional 25,730 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Federal Realty Investment Trust by 6.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 309,103 shares of the real estate investment trust’s stock valued at $31,567,000 after buying an additional 19,453 shares in the last quarter. Heitman Real Estate Securities LLC boosted its holdings in Federal Realty Investment Trust by 1,553.3% in the fourth quarter. Heitman Real Estate Securities LLC now owns 207,700 shares of the real estate investment trust’s stock valued at $21,403,000 after purchasing an additional 195,137 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Federal Realty Investment Trust by 53.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,355,907 shares of the real estate investment trust’s stock worth $139,726,000 after purchasing an additional 469,425 shares during the last quarter. Finally, Mizuho Markets Americas LLC lifted its position in shares of Federal Realty Investment Trust by 66.0% during the 4th quarter. Mizuho Markets Americas LLC now owns 51,610 shares of the real estate investment trust’s stock worth $5,318,000 after buying an additional 20,519 shares during the last quarter. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Federal Realty Investment Trust Stock Performance

FRT traded up $0.66 during midday trading on Wednesday, reaching $113.54. The company’s stock had a trading volume of 761,308 shares, compared to its average volume of 597,561. The stock has a market cap of $9.42 billion, a P/E ratio of 40.41, a PEG ratio of 2.26 and a beta of 1.23. Federal Realty Investment Trust has a twelve month low of $85.59 and a twelve month high of $115.05. The company has a fifty day simple moving average of $106.75 and a 200 day simple moving average of $102.86. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.59.

Federal Realty Investment Trust (NYSE:FRT) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.36). Federal Realty Investment Trust had a return on equity of 10.14% and a net margin of 24.69%. The business had revenue of $295.80 million during the quarter, compared to analyst estimates of $293.61 million. During the same period last year, the company earned $1.67 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts expect that Federal Realty Investment Trust will post 6.8 earnings per share for the current year.

Federal Realty Investment Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Tuesday, October 1st. This is a positive change from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. Federal Realty Investment Trust’s dividend payout ratio is 156.58%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Evercore ISI lowered their price objective on shares of Federal Realty Investment Trust from $115.00 to $114.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Raymond James lifted their target price on shares of Federal Realty Investment Trust from $108.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Mizuho increased their price objective on shares of Federal Realty Investment Trust from $104.00 to $116.00 and gave the stock a “neutral” rating in a report on Monday. Scotiabank lifted 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 report on Thursday, May 16th. Finally, Truist Financial decreased 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. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Federal Realty Investment Trust has an average rating of “Moderate Buy” and an average price target of $118.36.

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.