Renaissance Technologies LLC Boosts Stake in Federal Realty Investment Trust (FRT)

Renaissance Technologies LLC grew its position in shares of Federal Realty Investment Trust (NYSE:FRT) by 213.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,300 shares of the real estate investment trust’s stock after buying an additional 119,300 shares during the quarter. Renaissance Technologies LLC owned approximately 0.24% of Federal Realty Investment Trust worth $22,156,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its holdings in Federal Realty Investment Trust by 1.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 113,222 shares of the real estate investment trust’s stock valued at $14,310,000 after buying an additional 1,229 shares during the period. JPMorgan Chase & Co. lifted its holdings in Federal Realty Investment Trust by 173.7% in the second quarter. JPMorgan Chase & Co. now owns 2,346,294 shares of the real estate investment trust’s stock valued at $296,548,000 after buying an additional 1,489,133 shares during the period. Delta Lloyd Asset Management N.V. acquired a new position in Federal Realty Investment Trust in the second quarter valued at approximately $12,495,000. Morgan Stanley lifted its holdings in Federal Realty Investment Trust by 7.6% in the first quarter. Morgan Stanley now owns 508,516 shares of the real estate investment trust’s stock valued at $67,887,000 after buying an additional 35,945 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Federal Realty Investment Trust by 18.2% in the second quarter. American Century Companies Inc. now owns 169,134 shares of the real estate investment trust’s stock valued at $21,377,000 after buying an additional 26,027 shares during the period. Institutional investors own 93.44% of the company’s stock.

Federal Realty Investment Trust (FRT) opened at 126.75 on Wednesday. Federal Realty Investment Trust has a 12-month low of $120.50 and a 12-month high of $149.38. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 36.71 and a beta of 0.30. The firm has a 50-day moving average of $126.65 and a 200 day moving average of $128.80.

Federal Realty Investment Trust (NYSE:FRT) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.03. The firm had revenue of $208.00 million during the quarter, compared to analyst estimates of $208.33 million. Federal Realty Investment Trust had a net margin of 30.40% and a return on equity of 10.91%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 EPS. Analysts expect that Federal Realty Investment Trust will post $3.31 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 22nd will be paid a $1.00 dividend. The ex-dividend date is Thursday, September 21st. This represents a $4.00 dividend on an annualized basis and a yield of 3.16%. This is a boost from Federal Realty Investment Trust’s previous quarterly dividend of $0.98. Federal Realty Investment Trust’s payout ratio is presently 115.94%.

Several equities research analysts have commented on the stock. Evercore ISI downgraded shares of Federal Realty Investment Trust from an “in-line” rating to an “underperform” rating and set a $128.00 price objective for the company. in a research report on Monday, August 14th. Citigroup Inc. raised their target price on shares of Federal Realty Investment Trust from $147.00 to $148.00 and gave the company a “buy” rating in a research report on Monday, August 14th. Bank of America Corporation raised shares of Federal Realty Investment Trust from a “neutral” rating to a “buy” rating and raised their target price for the company from $140.00 to $146.00 in a research report on Friday, July 21st. BidaskClub raised shares of Federal Realty Investment Trust from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Finally, Jefferies Group LLC decreased their target price on shares of Federal Realty Investment Trust from $136.00 to $130.00 and set a “hold” rating for the company in a research report on Friday, September 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $140.25.

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In other news, EVP Dawn M. Becker sold 2,281 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $133.05, for a total transaction of $303,487.05. Following the transaction, the executive vice president now directly owns 123,744 shares in the company, valued at $16,464,139.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Donald C. Wood sold 21,342 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $130.86, for a total transaction of $2,792,814.12. The disclosure for this sale can be found here. Insiders have sold 57,495 shares of company stock worth $7,538,395 over the last ninety days. Insiders own 1.10% of the company’s stock.

About Federal Realty Investment Trust

Federal Realty Investment Trust is an equity real estate investment trust (REIT). The Company specializes in the ownership, management and redevelopment of retail and mixed-use properties located primarily in affluent communities in selected metropolitan markets in the Northeast and Mid-Atlantic regions of the United States, as well as in California and South Florida.

Institutional Ownership by Quarter for Federal Realty Investment Trust (NYSE:FRT)

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