Bank of Montreal Can Reduces Stake in Federal Realty Investment Trust (NYSE:FRT)

Bank of Montreal Can cut its stake in shares of Federal Realty Investment Trust (NYSE:FRT) by 33.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,614 shares of the real estate investment trust’s stock after selling 39,726 shares during the period. Bank of Montreal Can owned 0.11% of Federal Realty Investment Trust worth $9,937,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FRT. State of Alaska Department of Revenue raised its stake in Federal Realty Investment Trust by 9.8% in the first quarter. State of Alaska Department of Revenue now owns 36,561 shares of the real estate investment trust’s stock worth $4,880,000 after buying an additional 3,261 shares during the period. Doyle Wealth Management bought a new stake in Federal Realty Investment Trust during the first quarter worth approximately $251,000. Fox Run Management L.L.C. bought a new stake in Federal Realty Investment Trust during the first quarter worth approximately $521,000. CrestPoint Capital Management LLC raised its stake in Federal Realty Investment Trust by 54.5% in the first quarter. CrestPoint Capital Management LLC now owns 17,300 shares of the real estate investment trust’s stock worth $2,310,000 after buying an additional 6,100 shares during the period. Finally, Gulf International Bank UK Ltd raised its stake in Federal Realty Investment Trust by 2.0% in the first quarter. Gulf International Bank UK Ltd now owns 22,085 shares of the real estate investment trust’s stock worth $2,948,000 after buying an additional 430 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Shares of Federal Realty Investment Trust (FRT) opened at 129.40 on Friday. Federal Realty Investment Trust has a 52-week low of $120.50 and a 52-week high of $162.06. The stock has a market cap of $9.35 billion, a P/E ratio of 37.47 and a beta of 0.29. The firm’s 50-day moving average price is $129.66 and its 200-day moving average price is $132.02.

Federal Realty Investment Trust (NYSE:FRT) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $1.49 EPS for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.03. The company had revenue of $208 million during the quarter, compared to the consensus estimate of $208.33 million. Federal Realty Investment Trust had a net margin of 30.40% and a return on equity of 10.91%. Federal Realty Investment Trust’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.42 EPS. Equities analysts predict that Federal Realty Investment Trust will post $3.28 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 22nd will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, September 21st. This is an increase from Federal Realty Investment Trust’s previous quarterly dividend of $0.98. Federal Realty Investment Trust’s dividend payout ratio (DPR) is currently 113.62%.

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A number of brokerages have recently issued reports on FRT. Boenning Scattergood set a $140.00 price objective on Federal Realty Investment Trust and gave the stock a “buy” rating in a research note on Friday, August 4th. Seaport Global Securities reissued a “buy” rating on shares of Federal Realty Investment Trust in a research note on Thursday, April 27th. Jefferies Group LLC reissued a “hold” rating and issued a $136.00 price objective on shares of Federal Realty Investment Trust in a research note on Tuesday, July 25th. BidaskClub raised Federal Realty Investment Trust from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Finally, Bank of America Corporation raised Federal Realty Investment Trust from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $146.00 in a report on Friday, July 21st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $152.38.

In other Federal Realty Investment Trust news, EVP Dawn M. Becker sold 2,281 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $133.05, for a total transaction of $303,487.05. Following the sale, the executive vice president now directly owns 123,744 shares of the company’s stock, valued at approximately $16,464,139.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald C. Wood sold 2,772 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $133.06, for a total transaction of $368,842.32. The disclosure for this sale can be found here. Company 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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