Federal Realty Investment Trust (NYSE:FRT – Get Rating) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 2,280,000 shares, a growth of 19.4% from the August 31st total of 1,910,000 shares. Based on an average daily trading volume of 610,700 shares, the days-to-cover ratio is currently 3.7 days.
Federal Realty Investment Trust Price Performance
FRT traded up $1.33 during midday trading on Friday, reaching $90.12. 1,159,306 shares of the company’s stock were exchanged, compared to its average volume of 738,714. Federal Realty Investment Trust has a one year low of $86.43 and a one year high of $140.51. The business has a 50-day simple moving average of $102.51 and a two-hundred day simple moving average of $107.95. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 2.26 and a beta of 1.13.
Federal Realty Investment Trust Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Thursday, September 22nd will be issued a $1.08 dividend. This is a positive change from Federal Realty Investment Trust’s previous quarterly dividend of $1.07. The ex-dividend date is Wednesday, September 21st. This represents a $4.32 annualized dividend and a dividend yield of 4.79%. Federal Realty Investment Trust’s payout ratio is 124.86%.
Analysts Set New Price Targets
A number of equity analysts have issued reports on FRT shares. Truist Financial decreased their price target on Federal Realty Investment Trust from $125.00 to $120.00 in a research note on Monday, August 22nd. Barclays decreased their price target on Federal Realty Investment Trust from $142.00 to $122.00 and set an “overweight” rating for the company in a research note on Friday, July 15th. Mizuho increased their price target on Federal Realty Investment Trust from $117.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, August 16th. Piper Sandler decreased their price target on Federal Realty Investment Trust to $120.00 in a research note on Monday, July 4th. Finally, Raymond James reduced their price objective on Federal Realty Investment Trust from $140.00 to $130.00 and set a “strong-buy” rating for the company in a research note on Thursday, September 1st. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Federal Realty Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.31.
Hedge Funds Weigh In On Federal Realty Investment Trust
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. bought a new stake in Federal Realty Investment Trust during the 1st quarter worth about $1,481,079,000. State Street Corp lifted its position in Federal Realty Investment Trust by 8.3% during the 2nd quarter. State Street Corp now owns 8,464,129 shares of the real estate investment trust’s stock worth $819,071,000 after buying an additional 647,204 shares in the last quarter. BlackRock Inc. lifted its position in Federal Realty Investment Trust by 5.2% during the 4th quarter. BlackRock Inc. now owns 7,559,988 shares of the real estate investment trust’s stock worth $1,030,577,000 after buying an additional 372,411 shares in the last quarter. Norges Bank bought a new stake in Federal Realty Investment Trust during the 4th quarter worth about $983,225,000. Finally, ProShare Advisors LLC lifted its position in Federal Realty Investment Trust by 7.8% during the 2nd quarter. ProShare Advisors LLC now owns 1,386,122 shares of the real estate investment trust’s stock worth $132,707,000 after buying an additional 99,929 shares in the last quarter. Institutional investors and hedge funds own 84.36% of the company’s stock.
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.
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