Federal Realty Investment Trust (NYSE:FRT) Releases FY24 Earnings Guidance

Federal Realty Investment Trust (NYSE:FRT) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $6.70-6.88 for the period, compared to the consensus EPS estimate of $6.79. Federal Realty Investment Trust also updated its FY 2024 guidance to 6.700-6.880 EPS.

Federal Realty Investment Trust Price Performance

Shares of NYSE FRT traded down $0.32 during mid-day trading on Friday, reaching $112.48. 979,478 shares of the company were exchanged, compared to its average volume of 492,730. Federal Realty Investment Trust has a 52 week low of $85.59 and a 52 week high of $115.05. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $9.33 billion, a PE ratio of 40.03, a PEG ratio of 2.26 and a beta of 1.23. The company’s 50 day moving average price is $103.57 and its 200 day moving average price is $101.90.

Federal Realty Investment Trust (NYSE:FRT) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.36). The company had revenue of $295.80 million for the quarter, compared to the consensus estimate of $293.61 million. Federal Realty Investment Trust had a return on equity of 10.14% and a net margin of 24.69%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.67 earnings per share. Sell-side analysts forecast that Federal Realty Investment Trust will post 6.8 earnings per share for the current fiscal year.

Federal Realty Investment Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Tuesday, October 1st. This is a boost from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. Federal Realty Investment Trust’s dividend payout ratio (DPR) is presently 155.16%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Federal Realty Investment Trust from a hold rating to a buy rating and lifted their target price for the company from $109.00 to $110.00 in a research note on Monday, April 22nd. Mizuho lifted 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. Truist Financial cut their target price on shares of Federal Realty Investment Trust from $117.00 to $115.00 and set a buy rating on the stock in a research note on Monday, May 20th. Wells Fargo & Company boosted their price objective on shares of Federal Realty Investment Trust from $112.00 to $115.00 and gave the stock an overweight rating in a research note on Tuesday, May 28th. Finally, Scotiabank boosted their price objective on shares of Federal Realty Investment Trust from $109.00 to $112.00 and gave the stock a sector outperform rating in a research note on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average 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.