Spirit of America Management Corp NY bought a new stake in shares of Federal Realty Investment Trust (NYSE:FRT – Get Rating) during the 2nd quarter, HoldingsChannel reports. The firm bought 13,700 shares of the real estate investment trust's stock, valued at approximately $1,312,000.
A number of other hedge funds have also recently bought and sold shares of FRT. Montag A & Associates Inc. bought a new stake in shares of Federal Realty Investment Trust in the 1st quarter worth approximately $29,000. M&R Capital Management Inc. acquired a new position in shares of Federal Realty Investment Trust during the 1st quarter worth about $32,000. Baldwin Brothers LLC MA bought a new position in Federal Realty Investment Trust during the second quarter valued at about $34,000. Brown Brothers Harriman & Co. grew its stake in shares of Federal Realty Investment Trust by 237.0% in 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 period. Finally, Parkside Financial Bank & Trust bought a new stake in Federal Realty Investment Trust during the 1st quarter worth approximately $60,000. Institutional investors and hedge funds own 84.36% of the company's stock.
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Analyst Upgrades and Downgrades
Several analysts recently commented on FRT shares. Raymond James dropped their price objective on Federal Realty Investment Trust from $140.00 to $130.00 and set a "strong-buy" rating on the stock in a research note on Thursday, September 1st. Bank of America upgraded shares of Federal Realty Investment Trust from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $110.00 to $130.00 in a research report on Tuesday, August 9th. Credit Suisse Group assumed coverage on shares of Federal Realty Investment Trust in a research note on Wednesday, June 22nd. They issued a "neutral" rating and a $104.00 price objective on the stock. Evercore ISI dropped their target price on shares of Federal Realty Investment Trust from $119.00 to $110.00 and set an "in-line" rating on the stock in a report on Tuesday. Finally, Jefferies Financial Group dropped their price objective on shares of Federal Realty Investment Trust from $133.00 to $96.00 and set a "hold" rating on the stock in a report on Thursday, June 30th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $123.31.
Federal Realty Investment Trust Trading Up 2.9 %
NYSE FRT traded up $2.55 during trading on Wednesday, hitting $90.46. The stock had a trading volume of 8,688 shares, compared to its average volume of 714,921. The company has a market capitalization of $7.32 billion, a PE ratio of 25.41, a PEG ratio of 2.24 and a beta of 1.13. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.51. The firm has a 50 day moving average price of $103.26 and a 200 day moving average price of $108.45. Federal Realty Investment Trust has a twelve month low of $86.43 and a twelve month high of $140.51.
Federal Realty Investment Trust Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Thursday, September 22nd will be issued a $1.08 dividend. This is a positive change from Federal Realty Investment Trust's previous quarterly dividend of $1.07. The ex-dividend date is Wednesday, September 21st. This represents a $4.32 annualized dividend and a yield of 4.78%. Federal Realty Investment Trust's dividend payout ratio is 124.86%.
About Federal Realty Investment Trust
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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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