Burke & Herbert Bank & Trust Co. Reduces Stock Position in Federal Realty Investment Trust (NYSE:FRT)

Burke & Herbert Bank & Trust Co. cut its stake in Federal Realty Investment Trust (NYSE:FRT – Get Rating) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,335 shares of the real estate investment trust’s stock after selling 417 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Federal Realty Investment Trust were worth $741,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. purchased a new position in shares of Federal Realty Investment Trust during the 1st quarter worth approximately $1,481,079,000. State Street Corp increased its stake in shares of Federal Realty Investment Trust by 13.4% during the 3rd quarter. State Street Corp now owns 9,600,162 shares of the real estate investment trust’s stock worth $875,143,000 after purchasing an additional 1,136,033 shares in the last quarter. Invesco Ltd. increased its stake in shares of Federal Realty Investment Trust by 62.6% during the 1st quarter. Invesco Ltd. now owns 1,330,651 shares of the real estate investment trust’s stock worth $162,432,000 after purchasing an additional 512,382 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Federal Realty Investment Trust by 113.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 468,254 shares of the real estate investment trust’s stock worth $44,831,000 after purchasing an additional 248,778 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Federal Realty Investment Trust by 94.5% during the 2nd quarter. Millennium Management LLC now owns 448,143 shares of the real estate investment trust’s stock worth $42,905,000 after purchasing an additional 217,790 shares in the last quarter. 86.20% of the stock is owned by hedge funds and other institutional investors.

Federal Realty Investment Trust Stock Down 3.4 %

Shares of FRT opened at $91.88 on Friday. The firm has a market cap of $7.47 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 2.31 and a beta of 1.20. The company’s fifty day moving average is $106.99 and its two-hundred day moving average is $102.78. Federal Realty Investment Trust has a fifty-two week low of $86.43 and a fifty-two week high of $128.13. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.53.

Federal Realty Investment Trust (NYSE:FRT – Get Rating) last announced its quarterly earnings results on Wednesday, February 8th. The real estate investment trust reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.17). The company had revenue of $279.80 million during the quarter, compared to analyst estimates of $277.24 million. Federal Realty Investment Trust had a net margin of 35.88% and a return on equity of 14.06%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.47 EPS. Analysts forecast that Federal Realty Investment Trust will post 6.48 earnings per share for the current year.

Federal Realty Investment Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Monday, March 13th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Friday, March 10th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.70%. Federal Realty Investment Trust’s dividend payout ratio (DPR) is presently 92.51%.

Insider Activity at Federal Realty Investment Trust

In related news, CEO Donald C. Wood sold 10,000 shares of the stock in a transaction on Monday, February 13th. The stock was sold at an average price of $111.24, for a total value of $1,112,400.00. Following the completion of the sale, the chief executive officer now directly owns 200,710 shares in the company, valued at approximately $22,326,980.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Daniel Guglielmone sold 2,500 shares of the stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $110.69, for a total value of $276,725.00. Following the completion of the sale, the chief financial officer now owns 50,782 shares in the company, valued at $5,621,059.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Donald C. Wood sold 10,000 shares of the stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $111.24, for a total value of $1,112,400.00. Following the completion of the sale, the chief executive officer now owns 200,710 shares of the company’s stock, valued at approximately $22,326,980.40. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FRT. JPMorgan Chase & Co. cut shares of Federal Realty Investment Trust from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $118.00 to $115.00 in a research note on Friday, December 16th. Mizuho dropped their price objective on shares of Federal Realty Investment Trust from $115.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, March 1st. Barclays lowered their target price on shares of Federal Realty Investment Trust from $129.00 to $127.00 and set an “overweight” rating for the company in a research note on Wednesday, February 15th. StockNews.com assumed coverage on shares of Federal Realty Investment Trust in a research note on Thursday. They issued a “hold” rating for the company. Finally, Credit Suisse Group lifted their target price on shares of Federal Realty Investment Trust from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, February 9th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $117.00.

Federal Realty Investment Trust Profile

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Federal Realty Investment Trust is an equity real estate investment trust. It engages in ownership, management, and redevelopment of retail and mixed-use properties located primarily in communities demand exceeds supply in strategically selected metropolitan markets. The company was founded in 1962 and is headquartered in North Bethesda, MD.