Westpac Banking Corp Sells 12,070 Shares of Federal Realty Investment Trust (NYSE:FRT)

Posted by Defense World Staff on May 2nd, 2023

Westpac Banking Corp decreased its stake in shares of Federal Realty Investment Trust (NYSE:FRT – Get Rating) by 37.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,389 shares of the real estate investment trust’s stock after selling 12,070 shares during the quarter. Westpac Banking Corp’s holdings in Federal Realty Investment Trust were worth $2,060,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FRT. RB Capital Management LLC acquired a new position in shares of Federal Realty Investment Trust during the 1st quarter worth approximately $272,000. American Century Companies Inc. increased its position in shares of Federal Realty Investment Trust by 119.6% during the 1st quarter. American Century Companies Inc. now owns 19,465 shares of the real estate investment trust’s stock worth $2,376,000 after purchasing an additional 10,601 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Federal Realty Investment Trust by 25.4% during the 1st quarter. MetLife Investment Management LLC now owns 19,396 shares of the real estate investment trust’s stock worth $2,368,000 after purchasing an additional 3,929 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of Federal Realty Investment Trust by 3.9% during the 1st quarter. Panagora Asset Management Inc. now owns 5,123 shares of the real estate investment trust’s stock worth $625,000 after purchasing an additional 193 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Federal Realty Investment Trust by 7.7% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,467 shares of the real estate investment trust’s stock worth $1,156,000 after acquiring an additional 679 shares during the last quarter. Institutional investors and hedge funds own 86.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FRT. UBS Group boosted their target price on Federal Realty Investment Trust from $107.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, February 9th. Barclays decreased their target price on Federal Realty Investment Trust from $129.00 to $127.00 and set an “overweight” rating on the stock in a report on Wednesday, February 15th. Piper Sandler decreased their target price on Federal Realty Investment Trust from $118.00 to $111.00 and set a “neutral” rating on the stock in a report on Wednesday, April 5th. StockNews.com began coverage on Federal Realty Investment Trust in a report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Credit Suisse Group boosted their target price on Federal Realty Investment Trust from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, February 9th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Federal Realty Investment Trust currently has an average rating of “Moderate Buy” and an average target price of $116.31.

Federal Realty Investment Trust Price Performance

Shares of FRT stock opened at $97.68 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.53. Federal Realty Investment Trust has a twelve month low of $86.43 and a twelve month high of $123.46. The company has a market cap of $7.95 billion, a P/E ratio of 20.92, a P/E/G ratio of 2.24 and a beta of 1.19. The business has a fifty day simple moving average of $98.72 and a 200 day simple moving average of $102.94.

Federal Realty Investment Trust (NYSE:FRT – Get Rating) last announced its quarterly earnings data on Wednesday, February 8th. The real estate investment trust reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.17). Federal Realty Investment Trust had a return on equity of 14.06% and a net margin of 35.88%. The business had revenue of $279.80 million for the quarter, compared to the consensus estimate of $277.24 million. During the same quarter in the prior year, the company earned $1.47 earnings per share. Federal Realty Investment Trust’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that Federal Realty Investment Trust will post 6.48 EPS for the current fiscal year.

Federal Realty Investment Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Monday, March 13th were issued a $1.08 dividend. The ex-dividend date of this dividend was Friday, March 10th. This represents a $4.32 dividend on an annualized basis and a yield of 4.42%. Federal Realty Investment Trust’s payout ratio is presently 92.51%.

Insiders Place Their Bets

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

Federal Realty Investment Trust Company 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.