New Mexico Educational Retirement Board raised its stake in Federal Realty Investment Trust (NYSE:FRT – Free Report) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,550 shares of the real estate investment trust’s stock after buying an additional 200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Federal Realty Investment Trust were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Creative Planning increased its holdings in shares of Federal Realty Investment Trust by 3.9% in the second quarter. Creative Planning now owns 2,840 shares of the real estate investment trust’s stock worth $272,000 after acquiring an additional 106 shares in the last quarter. Peapack Gladstone Financial Corp increased its holdings in shares of Federal Realty Investment Trust by 0.6% in the first quarter. Peapack Gladstone Financial Corp now owns 21,697 shares of the real estate investment trust’s stock worth $2,144,000 after acquiring an additional 128 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Federal Realty Investment Trust by 3.7% in the fourth quarter. Neuberger Berman Group LLC now owns 3,670 shares of the real estate investment trust’s stock worth $371,000 after acquiring an additional 132 shares in the last quarter. Pathstone Family Office LLC increased its holdings in shares of Federal Realty Investment Trust by 6.4% in the third quarter. Pathstone Family Office LLC now owns 2,331 shares of the real estate investment trust’s stock worth $212,000 after acquiring an additional 141 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Federal Realty Investment Trust by 7.1% in the first quarter. NewEdge Advisors LLC now owns 2,194 shares of the real estate investment trust’s stock worth $217,000 after acquiring an additional 145 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on FRT. Mizuho downgraded Federal Realty Investment Trust from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $105.00 to $101.00 in a report on Monday, September 18th. StockNews.com began coverage on Federal Realty Investment Trust in a report on Thursday. They set a “hold” rating for the company. Bank of America decreased their price objective on Federal Realty Investment Trust from $125.00 to $124.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. Piper Sandler upgraded Federal Realty Investment Trust from a “neutral” rating to an “overweight” rating and set a $111.00 price objective for the company in a report on Thursday, June 29th. They noted that the move was a valuation call. Finally, Raymond James downgraded Federal Realty Investment Trust from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $115.00 to $104.00 in a report on Tuesday, September 5th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Federal Realty Investment Trust presently has an average rating of “Hold” and an average target price of $112.17.
Federal Realty Investment Trust Stock Performance
FRT opened at $87.87 on Friday. Federal Realty Investment Trust has a 12-month low of $85.27 and a 12-month high of $115.08. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.98 and a beta of 1.22. The business has a 50 day moving average of $97.06 and a 200-day moving average of $95.83. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.60.
Federal Realty Investment Trust Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 22nd will be given a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a dividend yield of 4.96%. This is a boost from Federal Realty Investment Trust’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Thursday, September 21st. Federal Realty Investment Trust’s dividend payout ratio (DPR) is presently 93.56%.
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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