The Manufacturers Life Insurance Company lessened its holdings in Federal Realty Investment Trust (NYSE:FRT – Get Rating ) by 4.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 56,268 shares of the real estate investment trust’s stock after selling 2,845 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of Federal Realty Investment Trust worth $5,071,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new position in shares of Federal Realty Investment Trust in the third quarter worth about $27,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Federal Realty Investment Trust by 237.0% in the first quarter. Brown Brothers Harriman & Co. now owns 337 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 237 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Federal Realty Investment Trust during the second quarter worth about $46,000. Parkside Financial Bank & Trust purchased a new position in shares of Federal Realty Investment Trust during the first quarter worth about $60,000. Finally, Wipfli Financial Advisors LLC purchased a new position in shares of Federal Realty Investment Trust in the third quarter worth about $49,000. The hedge fund and other institutional investors own 86.20% of the company’s stock.
Shares of Federal Realty Investment Trust fell 1.3%
FRT opened at $109.97 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.40, and a quick ratio of 1.40. The business has a 50 day simple moving average of $106.44 and a 200 day simple moving average of $102.62. The stock has a market cap of $8.93 billion, a P/E ratio of 23.35, a P/E/G ratio of 2.67 and a beta of 1.14. Federal Realty Investment Trust has a 12-month low of $86.43 and a 12-month high of $128.13.
Federal Real Estate Investment Trust announces dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Tuesday, January 3rd were given a $1.08 dividend. The ex-dividend date of this dividend was Friday, December 30th. This represents a $4.32 annual dividend and a dividend yield of 3.93%. Federal Realty Investment Trust’s dividend payout ratio is currently 91.72%.
Promote and demote an analyst
A number of research analysts recently commented on the company. JPMorgan Chase & Co. downgraded Federal Realty Investment Trust from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $118.00 to $115.00 in a report on Friday, December 16th. StockNews.com raised Federal Realty Investment Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, January 10th. Evercore ISI cut their target price on Federal Realty Investment Trust to $104.00 in a research note on Thursday, October 20th. Barclays boosted their price objective on Federal Realty Investment Trust from $114.00 to $129.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 6th. Finally, Raymond James reduced their price objective on Federal Realty Investment Trust from $130.00 to $120.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 4th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Federal Realty Investment Trust presently has an average rating of “Moderate Buy” and a consensus target price of $117.53, according to MarketBeat.com .
Federal Real Estate Investment Trust Profile
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Federal Realty Investment Trust operates as a real estate capital investment trust. It owns, manages and redevelops retail and mixed-use properties. The company was founded in 1962 and is headquartered in North Bethesda, MD.
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