Federal Realty Investment Trust (NYSE:FRT) Issues FY24 Earnings Guidance

Federal Realty Investment Trust (NYSE:FRTGet Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $6.65-6.87 for the period, compared to the consensus EPS estimate of $6.77.

Wall Street Analysts Forecast Growth

FRT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Federal Realty Investment Trust in a research note on Tuesday, January 30th. They issued a hold rating and a $109.00 price objective for the company. Piper Sandler raised their price objective on Federal Realty Investment Trust from $116.00 to $122.00 and gave the stock an overweight rating in a research note on Wednesday, December 20th. Evercore ISI upgraded Federal Realty Investment Trust from an in-line rating to an outperform rating and raised their price objective for the stock from $104.00 to $108.00 in a research note on Monday, November 27th. Wells Fargo & Company reduced their price objective on Federal Realty Investment Trust from $103.00 to $97.00 and set an equal weight rating for the company in a research note on Monday, November 13th. Finally, Mizuho lifted their price target on Federal Realty Investment Trust from $98.00 to $104.00 and gave the company a neutral rating in a research report on Wednesday, January 10th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $111.67.

Check Out Our Latest Analysis on FRT

Federal Realty Investment Trust Stock Performance

Shares of Federal Realty Investment Trust stock opened at $100.72 on Tuesday. Federal Realty Investment Trust has a 52 week low of $85.27 and a 52 week high of $112.58. The business’s fifty day simple moving average is $102.32 and its 200-day simple moving average is $97.22. The firm has a market cap of $8.21 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 3.38 and a beta of 1.23. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.61.

Federal Realty Investment Trust (NYSE:FRTGet Free Report) last posted 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). Federal Realty Investment Trust had a return on equity of 10.18% and a net margin of 25.76%. The firm had revenue of $291.50 million for the quarter, compared to analyst estimates of $292.05 million. During the same period in the previous year, the company posted $1.58 EPS. Federal Realty Investment Trust’s revenue was up 4.2% on a year-over-year basis. Equities analysts forecast that Federal Realty Investment Trust will post 6.56 earnings per share for the current year.

Insiders Place Their Bets

In other Federal Realty Investment Trust news, CEO Donald C. Wood sold 345 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $99.91, for a total transaction of $34,468.95. Following the sale, the chief executive officer now owns 209,259 shares in the company, valued at approximately $20,907,066.69. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, COO Jeffrey S. Berkes sold 4,870 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $94.86, for a total value of $461,968.20. Following the transaction, the chief operating officer now owns 65,470 shares in the company, valued at approximately $6,210,484.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Donald C. Wood sold 345 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $99.91, for a total value of $34,468.95. Following the transaction, the chief executive officer now owns 209,259 shares in the company, valued at approximately $20,907,066.69. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Creative Planning lifted its position in Federal Realty Investment Trust by 3.9% during the 2nd 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 during the period. Lazard Asset Management LLC lifted its position in Federal Realty Investment Trust by 14.4% during the 3rd quarter. Lazard Asset Management LLC now owns 1,006 shares of the real estate investment trust’s stock worth $91,000 after acquiring an additional 127 shares during the period. Peapack Gladstone Financial Corp lifted its position in Federal Realty Investment Trust by 0.6% during the 1st 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 during the period. Neuberger Berman Group LLC lifted its holdings in shares of Federal Realty Investment Trust by 3.7% in the 4th quarter. Neuberger Berman Group LLC now owns 3,670 shares of the real estate investment trust’s stock valued at $371,000 after buying an additional 132 shares during the period. Finally, Pathstone Family Office LLC lifted its holdings in shares of Federal Realty Investment Trust by 6.4% in the 3rd quarter. Pathstone Family Office LLC now owns 2,331 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 141 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

About Federal Realty Investment Trust

(Get Free Report)

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.

See Also

Earnings History and Estimates for Federal Realty Investment Trust (NYSE:FRT)

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