Federal Realty Investment Trust (NYSE:FRT) Issues FY 2024 Earnings Guidance

Federal Realty Investment Trust (NYSE:FRT) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 6.760-6.860 for the period, compared to the consensus EPS estimate of 6.800. The company issued revenue guidance of -. Federal Realty Investment Trust also updated its FY24 guidance to $6.76-6.86 EPS.

Federal Realty Investment Trust Stock Up 1.2 %

NYSE:FRT traded up $1.40 during trading hours on Wednesday, reaching $114.25. The company had a trading volume of 712,372 shares, compared to its average volume of 616,577. The business’s 50-day simple moving average is $114.05 and its two-hundred day simple moving average is $107.56. Federal Realty Investment Trust has a twelve month low of $88.25 and a twelve month high of $118.34. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 40.17, a P/E/G ratio of 2.16 and a beta of 1.23. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 1.57.

Federal Realty Investment Trust (NYSE:FRT) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.36). The firm had revenue of $295.80 million during the quarter, compared to the consensus estimate of $293.61 million. Federal Realty Investment Trust had a net margin of 24.69% and a return on equity of 10.07%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 earnings per share. On average, equities analysts expect that Federal Realty Investment Trust will post 6.81 earnings per share for the current year.

Federal Realty Investment Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $1.10 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $4.40 annualized dividend and a yield of 3.85%. This is an increase from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. Federal Realty Investment Trust’s dividend payout ratio (DPR) is presently 156.58%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FRT shares. Truist Financial raised their price objective on shares of Federal Realty Investment Trust from $115.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Wells Fargo & Company raised their price target on shares of Federal Realty Investment Trust from $115.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. boosted their price objective on Federal Realty Investment Trust from $112.00 to $121.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Raymond James increased their price objective on Federal Realty Investment Trust from $108.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Finally, Mizuho lifted their target price on Federal Realty Investment Trust from $104.00 to $116.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.77.

Insider Activity at Federal Realty Investment Trust

In other Federal Realty Investment Trust news, CEO Donald C. Wood sold 5,937 shares of Federal Realty Investment Trust stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $116.47, for a total value of $691,482.39. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Donald C. Wood sold 30,292 shares of Federal Realty Investment Trust stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $116.17, for a total value of $3,519,021.64. Following the completion of the sale, the chief executive officer now owns 6,637 shares of the company’s stock, valued at approximately $771,020.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Donald C. Wood sold 5,937 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $116.47, for a total value of $691,482.39. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

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.