Federal Realty Investment Trust (NYSE:FRT) Releases FY 2024 Earnings Guidance

Federal Realty Investment Trust (NYSE:FRT) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 6.670-6.870 for the period, compared to the consensus earnings per share estimate of 6.800. The company issued revenue guidance of -.

Federal Realty Investment Trust Stock Performance

FRT traded up $0.11 during trading on Monday, hitting $102.12. 791,685 shares of the company traded hands, compared to its average volume of 666,223. Federal Realty Investment Trust has a one year low of $85.27 and a one year high of $107.61. The stock’s fifty day moving average is $100.75 and its 200 day moving average is $99.22. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.59. The firm has a market cap of $8.47 billion, a P/E ratio of 36.30, a price-to-earnings-growth ratio of 1.94 and a beta of 1.20.

Federal Realty Investment Trust (NYSE:FRT) last issued its earnings results on Monday, February 12th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.88). The firm had revenue of $291.50 million during the quarter, compared to the consensus estimate of $292.05 million. Federal Realty Investment Trust had a net margin of 20.55% and a return on equity of 8.34%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 earnings per share. As a group, equities analysts predict that Federal Realty Investment Trust will post 6.81 EPS for the current fiscal year.

Federal Realty Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 21st will be paid a $1.09 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $4.36 annualized dividend and a dividend yield of 4.27%. Federal Realty Investment Trust’s payout ratio is 155.16%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FRT. Scotiabank cut their price objective on shares of Federal Realty Investment Trust from $110.00 to $109.00 and set a sector outperform rating for the company in a report on Wednesday, February 28th. Barclays raised their price target on Federal Realty Investment Trust from $119.00 to $120.00 and gave the stock an overweight rating in a report on Friday, January 19th. Evercore ISI decreased their price objective on Federal Realty Investment Trust from $115.00 to $114.00 and set an outperform rating on the stock in a research note on Friday. Bank of America upped their target price on shares of Federal Realty Investment Trust from $118.00 to $124.00 and gave the stock a buy rating in a report on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Federal Realty Investment Trust from a hold rating to a buy rating and increased their price objective for the stock from $109.00 to $110.00 in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Federal Realty Investment Trust currently has a consensus rating of Moderate Buy and an average target price of $113.30.

About Federal Realty Investment Trust

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.