Federal Realty Investment Trust (NYSE:FRT) Releases Earnings Results, Misses Expectations By $0.36 EPS

Federal Realty Investment Trust (NYSE:FRT) released its quarterly earnings data on Thursday. The real estate investment trust reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.36), RTT News reports. Federal Realty Investment Trust had a return on equity of 10.14% and a net margin of 24.69%. The firm had revenue of $295.80 million during the quarter, compared to analyst estimates of $293.61 million. During the same period last year, the business earned $1.67 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. Federal Realty Investment Trust updated its FY24 guidance to $6.70-6.88 EPS and its FY 2024 guidance to 6.700-6.880 EPS.

Federal Realty Investment Trust Price Performance

Shares of FRT traded down $0.32 during mid-day trading on Friday, hitting $112.48. The company’s stock had a trading volume of 979,478 shares, compared to its average volume of 492,730. Federal Realty Investment Trust has a fifty-two week low of $85.59 and a fifty-two week high of $115.05. The firm has a 50-day moving average price of $103.57 and a 200 day moving average price of $101.90. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 40.03, a PEG ratio of 2.26 and a beta of 1.23. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.69 and a quick ratio of 1.69.

Federal Realty Investment Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a $1.10 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $4.40 annualized dividend and a dividend yield of 3.91%. This is a boost from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. Federal Realty Investment Trust’s payout ratio is currently 155.16%.

Wall Street Analysts Forecast Growth

FRT has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Federal Realty Investment Trust from a “hold” rating to a “buy” rating and raised their target price for the company from $109.00 to $110.00 in a research note on Monday, April 22nd. Scotiabank raised their target price on shares of Federal Realty Investment Trust from $109.00 to $112.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 16th. Piper Sandler raised their target price on shares of Federal Realty Investment Trust from $122.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday. Evercore ISI lowered their target price on shares of Federal Realty Investment Trust from $115.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Finally, Mizuho raised their target price on shares of Federal Realty Investment Trust from $101.00 to $104.00 and gave the company a “neutral” rating in a research note on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.30.

About Federal Realty Investment Trust

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 communities where retail demand exceeds supply.