Susquehanna Portfolio Strategies LLC Significantly Reduces Stake in Federal Realty Investment Trust (NYSE:FRT)
Susquehanna Portfolio Strategies LLC has made a substantial reduction in its investment in Federal Realty Investment Trust (NYSE:FRT), decreasing its position by an impressive 78.0% during the second quarter, as reported in its latest filing with the Securities and Exchange Commission (SEC). Following this adjustment, the institutional investor now holds 6,737 shares of the real estate investment trust (REIT) after selling 23,940 shares throughout the quarter. As of the end of the most recent quarter, Susquehanna's holdings in Federal Realty were valued at approximately $680,000.
In addition to Susquehanna, several other institutional investors have also recently adjusted their stakes in FRT. Franklin Resources Inc. increased its holdings in Federal Realty Investment Trust by 4.6% in the fourth quarter, now owning 17,304 shares valued at $1,783,000 after acquiring an additional 757 shares. Evoke Wealth LLC entered a new position in Federal Realty during the same quarter, investing around $212,000. Meanwhile, Bank of Nova Scotia raised its stake by 15.8%, now holding 5,823 shares valued at $600,000 after purchasing an additional 793 shares. Campbell & CO Investment Adviser LLC significantly boosted its holdings by 59.4%, now owning 20,237 shares valued at $2,085,000 after acquiring 7,545 shares. Lastly, KBC Group NV also made a new investment in Federal Realty during the fourth quarter, valued at approximately $136,000. Currently, hedge funds and institutional investors collectively own 93.86% of the stock.
Analysts have been actively evaluating FRT shares, with several recent upgrades. Mizuho raised its price target for Federal Realty from $104.00 to $116.00, maintaining a "neutral" rating in a report dated August 19th. Scotiabank increased its price target from $112.00 to $120.00, assigning a "sector outperform" rating on August 26th. Wells Fargo & Company also raised its target from $115.00 to $122.00, giving the stock an "overweight" rating on August 28th. Piper Sandler increased its price objective from $122.00 to $135.00, maintaining an "overweight" rating in a note on August 2nd. Finally, Compass Point raised its target price from $125.00 to $130.00, assigning a "buy" rating on September 10th. Currently, three analysts have rated the stock as a hold, while eleven have given it a buy rating. According to MarketBeat.com, Federal Realty Investment Trust holds a consensus rating of "Moderate Buy" with an average price target of $122.85.
In trading on Friday, FRT saw a slight increase of $0.75, reaching $114.38, with a trading volume of 409,976 shares, compared to an average volume of 628,140. The company maintains a current ratio of 1.74, a quick ratio of 1.74, and a debt-to-equity ratio of 1.57. Federal Realty has a market capitalization of $9.49 billion, a price-to-earnings ratio of 40.70, and a P/E/G ratio of 2.16, with a beta of 1.24. The stock's 50-day moving average stands at $113.61, while its 200-day moving average is $105.67. Over the past year, Federal Realty Investment Trust has experienced a low of $85.59 and a high of $118.34.
The company recently reported its quarterly earnings on August 1st, revealing earnings per share (EPS) of $1.32, which fell short of analysts' expectations of $1.68 by $0.36. Federal Realty reported a net margin of 24.69% and a return on equity of 10.07%, with quarterly revenue of $295.80 million, surpassing expectations of $293.61 million. This represents a 5.5% increase in revenue year-over-year. Analysts predict that Federal Realty will post an EPS of 6.81 for the current year.
Additionally, Federal Realty has declared a quarterly dividend of $1.10 per share, payable on October 15th to stockholders of record as of October 1st. This marks an increase from the previous quarterly dividend of $1.09, resulting in an annualized dividend of $4.40 and a dividend yield of 3.85%. The dividend payout ratio (DPR) currently stands at 156.58%.
In related news, CEO Donald C. Wood sold 5,937 shares of the company's stock on September 9th at an average price of $116.47, totaling $691,482.39. This transaction was disclosed in an SEC filing. Additionally, on September 5th, CEO Wood sold 30,292 shares at an average price of $116.17, amounting to $3,519,021.64. Following these transactions, he retains ownership of 6,637 shares valued at approximately $771,020.29. Insiders currently own 1.00% of the stock.
Federal Realty is a leading owner, operator, and redeveloper of high-quality retail properties primarily located in major coastal markets from Washington, DC to Boston, as well as in San Francisco and Los Angeles. Founded in 1962, the company's mission is to achieve long-term, sustainable growth by investing in communities where retail demand exceeds supply.
Before considering an investment in Federal Realty Investment Trust, it's worth noting that while it holds a "Moderate Buy" rating among analysts, some top-rated analysts have identified five other stocks that they believe are better investment opportunities at this time.