Federal Realty Investment Trust (FRT) Upgraded to “Hold” by Zacks Investment Research
According to Zacks, “Federal Realty is poised to grow on the back of high-quality shopping centers in premium locations, diverse tenant base with long-term lease, efforts to expand in premium markets and decent balance sheet. Yet, the tenants are now taking more time to close new lease deals as they have become more selective. Also, there is a decline in the number of tenants available to fill anchor spaces. Moreover, mall traffic continues to dwindle amid a rapid shift in customers’ shopping preferences with non-store sales rising significantly. Further, anticipated hike in interest rate in the near term adds to its woes. Amid this, though shares of Federal Realty were down quarter to date, the decline was less than that of the Zacks categorized REIT and Equity Trust – Retail industry. Also, over the past seven days, the full-year 2016 estimates for funds from operations (FFO) per share remained unchanged.”
Several other analysts also recently issued reports on FRT. Boenning Scattergood downgraded Federal Realty Investment Trust from an outperform rating to a neutral rating in a report on Monday, October 3rd. BTIG Research initiated coverage on Federal Realty Investment Trust in a report on Thursday, August 25th. They issued a neutral rating for the company. Jefferies Group lowered their price target on Federal Realty Investment Trust from $173.00 to $170.00 and set a hold rating for the company in a report on Tuesday, August 23rd. Mizuho upgraded Federal Realty Investment Trust from a neutral rating to a buy rating and increased their price target for the company from $162.00 to $176.00 in a report on Monday, August 29th. Finally, Royal Bank Of Canada increased their price target on Federal Realty Investment Trust from $130.00 to $140.00 and gave the company an underperform rating in a report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. Federal Realty Investment Trust has an average rating of Hold and an average target price of $160.80.
Shares of Federal Realty Investment Trust (NYSE:FRT) opened at 141.80 on Tuesday. The firm has a market cap of $10.18 billion, a PE ratio of 38.56 and a beta of 0.36. Federal Realty Investment Trust has a 52-week low of $134.39 and a 52-week high of $171.08. The stock’s 50 day moving average price is $142.58 and its 200-day moving average price is $154.85.
Federal Realty Investment Trust (NYSE:FRT) last released its quarterly earnings data on Wednesday, November 2nd. The real estate investment trust reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $201.20 million for the quarter, compared to analyst estimates of $200.07 million. Federal Realty Investment Trust had a return on equity of 10.87% and a net margin of 32.89%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 earnings per share. On average, equities research analysts anticipate that Federal Realty Investment Trust will post $5.60 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Advisor Group Inc. bought a new position in shares of Federal Realty Investment Trust during the second quarter valued at approximately $113,000. TLP Group LLC bought a new position in shares of Federal Realty Investment Trust during the third quarter valued at approximately $117,000. Global X Management Co. LLC boosted its position in shares of Federal Realty Investment Trust by 83.9% in the second quarter. Global X Management Co. LLC now owns 756 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 345 shares during the last quarter. Glenmede Trust Co. NA boosted its position in shares of Federal Realty Investment Trust by 4.2% in the second quarter. Glenmede Trust Co. NA now owns 1,068 shares of the real estate investment trust’s stock valued at $176,000 after buying an additional 43 shares during the last quarter. Finally, Iowa State Bank bought a new position in shares of Federal Realty Investment Trust during the second quarter valued at approximately $199,000. 89.52% of the stock is currently owned by institutional investors and hedge funds.
Federal Realty Investment Trust Company Profile
Federal Realty Investment Trust is an equity real estate investment trust (REIT) engaged in the ownership, management, and redevelopment of retail and mixed-use properties. The Trust owns or holds interests in community and neighborhood shopping centers and mixed-use properties, which are operated as approximately 90 retail real estate projects consisting approximately 21.4 million square feet, located primarily in the Northeast and Mid-Atlantic regions of the United States, as well as in California.
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