Sumitomo Mitsui Asset Management Company LTD Trims Holdings in Federal Realty Investment Trust (FRT)

Sumitomo Mitsui Asset Management Company LTD lowered its position in Federal Realty Investment Trust (NYSE:FRT) by 24.3% in the third quarter, HoldingsChannel.com reports. The fund owned 35,026 shares of the real estate investment trust’s stock after selling 11,259 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Federal Realty Investment Trust were worth $4,429,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Chevy Chase Trust Holdings Inc. acquired a new position in shares of Federal Realty Investment Trust in the 2nd quarter worth approximately $8,317,000. Centersquare Investment Management LLC raised its holdings in shares of Federal Realty Investment Trust by 434.3% in the 2nd quarter. Centersquare Investment Management LLC now owns 265,022 shares of the real estate investment trust’s stock worth $33,538,000 after buying an additional 215,419 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of Federal Realty Investment Trust by 14.1% in the 2nd quarter. Macquarie Group Ltd. now owns 26,725 shares of the real estate investment trust’s stock worth $3,381,000 after buying an additional 3,300 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Federal Realty Investment Trust by 19.4% in the 2nd quarter. Toronto Dominion Bank now owns 47,068 shares of the real estate investment trust’s stock worth $5,954,000 after buying an additional 7,658 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Federal Realty Investment Trust by 1.6% in the 2nd quarter. Wells Fargo & Company MN now owns 417,255 shares of the real estate investment trust’s stock worth $52,802,000 after buying an additional 6,659 shares in the last quarter. Institutional investors own 91.92% of the company’s stock.

A number of equities analysts have recently issued reports on FRT shares. ValuEngine raised Federal Realty Investment Trust from a “sell” rating to a “hold” rating in a report on Friday, June 22nd. TheStreet raised Federal Realty Investment Trust from a “c+” rating to a “b-” rating in a report on Thursday, June 21st. DA Davidson raised Federal Realty Investment Trust from a “neutral” rating to a “buy” rating in a report on Monday, June 25th. They noted that the move was a valuation call. SunTrust Banks raised Federal Realty Investment Trust from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Monday, June 25th. Finally, Stifel Nicolaus raised their price target on Federal Realty Investment Trust from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Federal Realty Investment Trust has an average rating of “Buy” and an average price target of $137.54.

FRT stock opened at $121.81 on Friday. Federal Realty Investment Trust has a fifty-two week low of $106.41 and a fifty-two week high of $134.52. The firm has a market cap of $8.97 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 3.28 and a beta of 0.17. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.49.

Federal Realty Investment Trust (NYSE:FRT) last released its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.02. Federal Realty Investment Trust had a return on equity of 12.76% and a net margin of 31.64%. The firm had revenue of $224.90 million during the quarter, compared to analysts’ expectations of $223.56 million. During the same period last year, the firm posted $1.49 EPS. The business’s revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts expect that Federal Realty Investment Trust will post 6.19 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 21st were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.35%. This is a boost from Federal Realty Investment Trust’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, September 20th. Federal Realty Investment Trust’s dividend payout ratio (DPR) is currently 69.04%.

Federal Realty Investment Trust Profile

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 densely populated, affluent communities where retail demand exceeds supply.

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

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