Spirit of America Management Corp NY reduced its position in shares of Federal Realty Investment Trust (NYSE:FRT) by 15.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,425 shares of the real estate investment trust’s stock after selling 5,050 shares during the period. Spirit of America Management Corp NY’s holdings in Federal Realty Investment Trust were worth $3,466,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Franklin Parlapiano Turner & Welch LLC acquired a new stake in Federal Realty Investment Trust during the first quarter worth approximately $126,000. Alexandria Capital LLC boosted its stake in Federal Realty Investment Trust by 1.4% in the first quarter. Alexandria Capital LLC now owns 1,187 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 16 shares during the period. Global X Management Co. LLC boosted its stake in Federal Realty Investment Trust by 30.6% in the first quarter. Global X Management Co. LLC now owns 1,245 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 292 shares during the period. IFP Advisors Inc boosted its stake in Federal Realty Investment Trust by 0.3% in the first quarter. IFP Advisors Inc now owns 1,534 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 4 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Federal Realty Investment Trust by 3.6% in the first quarter. Pacer Advisors Inc. now owns 1,595 shares of the real estate investment trust’s stock worth $213,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 92.58% of the company’s stock.
Shares of Federal Realty Investment Trust (FRT) traded down 1.64% during mid-day trading on Friday, reaching $132.81. The company’s stock had a trading volume of 460,109 shares. The company’s 50-day moving average is $127.66 and its 200 day moving average is $132.53. Federal Realty Investment Trust has a 1-year low of $120.50 and a 1-year high of $170.62. The firm has a market capitalization of $9.59 billion, a P/E ratio of 41.71 and a beta of 0.28.
Federal Realty Investment Trust (NYSE:FRT) last released its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.02. The company had revenue of $207.39 million during the quarter, compared to the consensus estimate of $205.96 million. Federal Realty Investment Trust had a return on equity of 10.89% and a net margin of 28.27%. Federal Realty Investment Trust’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 earnings per share. On average, analysts expect that Federal Realty Investment Trust will post $3.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Thursday, June 22nd were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.95%. The ex-dividend date was Tuesday, June 20th. Federal Realty Investment Trust’s payout ratio is 123.27%.
Several analysts recently commented on the company. BidaskClub upgraded Federal Realty Investment Trust from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and set a $136.00 price target on shares of Federal Realty Investment Trust in a research report on Tuesday. Bank of America Corporation upgraded Federal Realty Investment Trust from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $140.00 to $146.00 in a research report on Friday, July 21st. Citigroup Inc. reiterated a “buy” rating and set a $156.00 price target (down from $160.00) on shares of Federal Realty Investment Trust in a research report on Sunday, June 11th. Finally, Seaport Global Securities reiterated a “buy” rating on shares of Federal Realty Investment Trust in a research report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $154.33.
About Federal Realty Investment Trust
Federal Realty Investment Trust is an equity real estate investment trust (REIT). The Company specializes in the ownership, management and redevelopment of retail and mixed-use properties located primarily in affluent communities in selected metropolitan markets in the Northeast and Mid-Atlantic regions of the United States, as well as in California and South Florida.
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