Meridian Wealth Management LLC Makes New $1.32 Million Investment in Federal Realty Investment Trust (NYSE:FRT)

Meridian Wealth Management LLC bought a new position in Federal Realty Investment Trust (NYSE:FRT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,500 shares of the real estate investment trust’s stock, valued at approximately $1,322,000.

A number of other hedge funds have also made changes to their positions in FRT. Westwood Holdings Group Inc. increased its holdings in shares of Federal Realty Investment Trust by 571.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 642,446 shares of the real estate investment trust’s stock valued at $64,868,000 after acquiring an additional 546,711 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Federal Realty Investment Trust by 304.0% during the 2nd quarter. Millennium Management LLC now owns 415,603 shares of the real estate investment trust’s stock valued at $41,963,000 after acquiring an additional 312,726 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Federal Realty Investment Trust by 65.7% during the 3rd quarter. Citigroup Inc. now owns 240,048 shares of the real estate investment trust’s stock valued at $27,598,000 after acquiring an additional 95,185 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Federal Realty Investment Trust by 4.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,994,209 shares of the real estate investment trust’s stock valued at $201,355,000 after acquiring an additional 90,395 shares during the last quarter. Finally, Vest Financial LLC increased its holdings in shares of Federal Realty Investment Trust by 19.1% during the 2nd quarter. Vest Financial LLC now owns 430,051 shares of the real estate investment trust’s stock valued at $43,422,000 after acquiring an additional 69,059 shares during the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.

Insiders Place Their Bets

In other Federal Realty Investment Trust news, CEO Donald C. Wood sold 5,937 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $116.47, for a total value of $691,482.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

Federal Realty Investment Trust Price Performance

Shares of FRT stock opened at $114.86 on Friday. The stock has a 50 day moving average of $113.32 and a two-hundred day moving average of $108.87. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.48. Federal Realty Investment Trust has a 12 month low of $91.40 and a 12 month high of $118.34. The company has a market capitalization of $9.53 billion, a P/E ratio of 33.39, a P/E/G ratio of 2.18 and a beta of 1.24.

Federal Realty Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $1.10 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.83%. Federal Realty Investment Trust’s dividend payout ratio is currently 127.91%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Evercore ISI increased their price objective on Federal Realty Investment Trust from $120.00 to $123.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Compass Point increased their price objective on Federal Realty Investment Trust from $125.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Raymond James increased their target price on Federal Realty Investment Trust from $108.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Wells Fargo & Company increased their target price on Federal Realty Investment Trust from $115.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Finally, Piper Sandler increased their target price on Federal Realty Investment Trust from $122.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $122.85.

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.