Bank of New York Mellon Corp Sells 56,861 Shares of Federal Realty Investment Trust (NYSE:FRT)

Posted by Defense World Staff on Mar 10th, 2023

Bank of New York Mellon Corp lowered its holdings in shares of Federal Realty Investment Trust (NYSE:FRT – Get Rating) by 7.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 661,168 shares of the real estate investment trust’s stock after selling 56,861 shares during the period. Bank of New York Mellon Corp owned about 0.81% of Federal Realty Investment Trust worth $59,584,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new position in shares of Federal Realty Investment Trust during the 3rd quarter valued at $27,000. Brown Brothers Harriman & Co. grew its holdings in shares of Federal Realty Investment Trust by 237.0% during the 1st quarter. Brown Brothers Harriman & Co. now owns 337 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 237 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of Federal Realty Investment Trust during the 2nd quarter valued at $46,000. Wipfli Financial Advisors LLC bought a new position in shares of Federal Realty Investment Trust during the 3rd quarter valued at $49,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Federal Realty Investment Trust by 44.1% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 572 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 175 shares during the last quarter. Institutional investors own 86.20% of the company’s stock.

Insiders Place Their Bets

In other Federal Realty Investment Trust news, CFO Daniel Guglielmone sold 2,500 shares of Federal Realty Investment Trust stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $110.69, for a total value of $276,725.00. Following the completion of the transaction, the chief financial officer now directly owns 50,782 shares of the company’s stock, valued at $5,621,059.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Federal Realty Investment Trust news, CEO Donald C. Wood sold 10,000 shares of Federal Realty Investment Trust stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $111.24, for a total value of $1,112,400.00. Following the completion of the transaction, the chief executive officer now directly owns 200,710 shares of the company’s stock, valued at $22,326,980.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Guglielmone sold 2,500 shares of Federal Realty Investment Trust stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $110.69, for a total transaction of $276,725.00. Following the completion of the transaction, the chief financial officer now directly owns 50,782 shares of the company’s stock, valued at $5,621,059.58. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

FRT has been the topic of a number of recent analyst reports. Mizuho cut their price target on shares of Federal Realty Investment Trust from $115.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday, March 1st. Raymond James cut their price target on shares of Federal Realty Investment Trust from $130.00 to $120.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 4th. Credit Suisse Group raised their price target on shares of Federal Realty Investment Trust from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, February 9th. JPMorgan Chase & Co. lowered shares of Federal Realty Investment Trust from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $118.00 to $115.00 in a report on Friday, December 16th. Finally, Barclays dropped their target price on shares of Federal Realty Investment Trust from $129.00 to $127.00 and set an “overweight” rating for the company in a research report on Wednesday, February 15th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Federal Realty Investment Trust has an average rating of “Moderate Buy” and an average price target of $117.00.

Federal Realty Investment Trust Trading Down 2.4 %

Shares of NYSE FRT opened at $102.41 on Friday. Federal Realty Investment Trust has a 1 year low of $86.43 and a 1 year high of $128.13. The stock has a market cap of $8.33 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 2.52 and a beta of 1.20. The firm has a 50-day moving average of $107.81 and a 200 day moving average of $103.19. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.54 and a quick ratio of 1.54.

Federal Realty Investment Trust (NYSE:FRT – Get Rating) last issued its quarterly earnings results on Wednesday, February 8th. The real estate investment trust reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.17). Federal Realty Investment Trust had a net margin of 35.88% and a return on equity of 14.06%. The business had revenue of $279.80 million for the quarter, compared to analysts’ expectations of $277.24 million. During the same period last year, the business earned $1.47 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that Federal Realty Investment Trust will post 6.49 EPS for the current fiscal year.

Federal Realty Investment Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Monday, March 13th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Friday, March 10th. This represents a $4.32 dividend on an annualized basis and a yield of 4.22%. Federal Realty Investment Trust’s dividend payout ratio (DPR) is currently 92.51%.

Federal Realty Investment Trust Profile

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Federal Realty Investment Trust is an equity real estate investment trust. It engages in ownership, management, and redevelopment of retail and mixed-use properties located primarily in communities demand exceeds supply in strategically selected metropolitan markets. The company was founded in 1962 and is headquartered in North Bethesda, MD.