Vert Asset Management LLC Reduces Stake in Federal Realty Investment Trust $FRT

Vert Asset Management LLC reduced its stake in Federal Realty Investment Trust (NYSE:FRT) by 3.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 34,253 shares of the real estate investment trust’s stock after selling 1,176 shares during the period. Federal Realty Investment Trust accounts for approximately 1.2% of Vert Asset Management LLC’s investment portfolio, making the stock its 24th largest position. Vert Asset Management LLC’s holdings in Federal Realty Investment Trust were worth $3,254,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in FRT. Nuveen LLC purchased a new stake in Federal Realty Investment Trust in the 1st quarter valued at $52,017,000. Hsbc Holdings PLC lifted its stake in shares of Federal Realty Investment Trust by 123.9% in the 1st quarter. Hsbc Holdings PLC now owns 746,159 shares of the real estate investment trust’s stock valued at $72,634,000 after purchasing an additional 412,843 shares during the last quarter. Strs Ohio acquired a new position in shares of Federal Realty Investment Trust in the 1st quarter valued at $32,181,000. PGGM Investments lifted its stake in shares of Federal Realty Investment Trust by 23.7% in the 2nd quarter. PGGM Investments now owns 1,245,342 shares of the real estate investment trust’s stock valued at $118,295,000 after purchasing an additional 238,679 shares during the last quarter. Finally, APG Asset Management US Inc. lifted its stake in shares of Federal Realty Investment Trust by 111.4% in the 1st quarter. APG Asset Management US Inc. now owns 382,214 shares of the real estate investment trust’s stock valued at $37,071,000 after purchasing an additional 201,390 shares during the last quarter. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Federal Realty Investment Trust Price Performance

FRT opened at $99.74 on Thursday. The stock’s 50-day moving average price is $97.43 and its 200 day moving average price is $95.64. Federal Realty Investment Trust has a 12-month low of $80.65 and a 12-month high of $118.09. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 1.42. The firm has a market cap of $8.60 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 3.87 and a beta of 1.15.

Federal Realty Investment Trust (NYSE:FRT) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.18. Federal Realty Investment Trust had a return on equity of 11.19% and a net margin of 28.01%.The firm had revenue of $302.48 million for the quarter, compared to analyst estimates of $309.25 million. During the same quarter in the prior year, the company earned $1.69 EPS. Federal Realty Investment Trust’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that Federal Realty Investment Trust will post 7.15 earnings per share for the current year.

Federal Realty Investment Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $1.13 per share. This is a positive change from Federal Realty Investment Trust’s previous quarterly dividend of $1.10. The ex-dividend date is Wednesday, October 1st. This represents a $4.52 annualized dividend and a yield of 4.5%. Federal Realty Investment Trust’s dividend payout ratio (DPR) is currently 111.39%.

Analyst Ratings Changes

Several equities analysts have recently commented on FRT shares. JPMorgan Chase & Co. upped their price target on Federal Realty Investment Trust from $108.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, August 27th. Wells Fargo & Company upped their price target on Federal Realty Investment Trust from $113.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, August 27th. Mizuho upped their price target on Federal Realty Investment Trust from $96.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Scotiabank upped their price target on Federal Realty Investment Trust from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Thursday, August 28th. Finally, Barclays decreased their price target on Federal Realty Investment Trust from $106.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.31.

About Federal Realty Investment Trust

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