Federal Realty Investment Trust (NYSE:FRT) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Federal Realty Investment Trust (NYSE:FRT) from an overweight rating to a neutral rating in a research note issued to investors on Monday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has $108.00 target price on the real estate investment trust’s stock.

Several other equities research analysts have also recently weighed in on the company. Citigroup reissued a “neutral” rating and issued a $106.00 price target (down previously from $135.00) on shares of Federal Realty Investment Trust in a research note on Friday, March 28th. UBS Group decreased their price target on Federal Realty Investment Trust from $118.00 to $103.00 and set a “neutral” rating for the company in a research note on Monday, June 16th. Wells Fargo & Company decreased their price target on Federal Realty Investment Trust from $125.00 to $113.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. BMO Capital Markets reissued an “outperform” rating and issued a $110.00 price target on shares of Federal Realty Investment Trust in a research note on Monday, May 26th. Finally, Piper Sandler decreased their price target on Federal Realty Investment Trust from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.54.

Federal Realty Investment Trust Price Performance

Federal Realty Investment Trust stock opened at $93.77 on Monday. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $8.04 billion, a PE ratio of 26.87, a P/E/G ratio of 4.18 and a beta of 1.11. Federal Realty Investment Trust has a 12 month low of $80.65 and a 12 month high of $118.34. The stock has a 50-day moving average price of $95.25 and a two-hundred day moving average price of $100.72.

Federal Realty Investment Trust (NYSE:FRT) last posted its earnings results on Thursday, May 8th. The real estate investment trust reported $1.70 EPS for the quarter, beating the consensus estimate of $1.69 by $0.01. The firm had revenue of $302.29 million during the quarter, compared to the consensus estimate of $307.55 million. Federal Realty Investment Trust had a return on equity of 9.97% and a net margin of 24.77%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.64 earnings per share. Analysts expect that Federal Realty Investment Trust will post 7.15 EPS for the current year.

Federal Realty Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a $1.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $4.40 dividend on an annualized basis and a yield of 4.69%. Federal Realty Investment Trust’s dividend payout ratio (DPR) is presently 126.07%.

Institutional Investors Weigh In On Federal Realty Investment Trust

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Federal Realty Investment Trust by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 13,041,061 shares of the real estate investment trust’s stock valued at $1,459,947,000 after acquiring an additional 218,671 shares during the period. Norges Bank acquired a new stake in Federal Realty Investment Trust in the fourth quarter valued at approximately $810,544,000. Resolution Capital Ltd grew its stake in Federal Realty Investment Trust by 12.4% in the fourth quarter. Resolution Capital Ltd now owns 3,523,155 shares of the real estate investment trust’s stock valued at $394,417,000 after acquiring an additional 389,266 shares during the period. Invesco Ltd. grew its stake in Federal Realty Investment Trust by 41.4% in the fourth quarter. Invesco Ltd. now owns 3,053,443 shares of the real estate investment trust’s stock valued at $341,833,000 after acquiring an additional 893,258 shares during the period. Finally, Geode Capital Management LLC grew its stake in Federal Realty Investment Trust by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 2,033,880 shares of the real estate investment trust’s stock valued at $227,457,000 after acquiring an additional 77,783 shares during the period. Institutional investors and hedge funds own 93.86% of the company’s stock.

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.