Federal Realty Investment Trust (FRT) was Upgraded by Mizuho to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 176 from a previous price target of $162 . Earlier the firm had a rating of “Neutral ” on the company shares. Mizuho advised their investors in a research report released on Aug 29, 2016.
Many Wall Street Analysts have commented on Federal Realty Investment Trust. Company shares were Reiterated by Canaccord Genuity on Aug 16, 2016 to “Buy”, Firm has raised the Price Target to $ 180 from a previous price target of $167 .Company shares were Reiterated by RBC Capital Mkts on Aug 8, 2016 to “Underperform”, Firm has raised the Price Target to $ 140 from a previous price target of $130 .Federal Realty Investment Trust was Resumed by Jefferies to “Hold” on Jun 30, 2016.
On the company’s financial health, Federal Realty Investment Trust reported $1.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $1.41. The company had revenue of $196.42 million for the quarter, compared to analysts expectations of $199.26 million. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS.
Federal Realty Investment Trust closed down -0.45 points or -0.28% at $157.51 with 2,79,602 shares getting traded on Tuesday. Post opening the session at $158.52, the shares hit an intraday low of $157.09 and an intraday high of $158.8499 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
Investors should note that on Aug 4, 2016, Federal Realty Investment Trust announced a cash dividend of $0.9800. The company’s management has announced Sep 20, 2016 as the ex-dividend date and fixed the record date on Sep 22, 2016. The payable date has been fixed on Oct 17, 2016.
In a different news, on May 11, 2016, Donald C Wood (Trustee, President and CEO) sold 18,701 shares at $158.15 per share price. According to the SEC, on May 11, 2016, Dawn M Becker (EVP-General Counsel & Sec) sold 13,314 shares at $158.44 per share price.
Federal Realty Investment Trust is an equity real estate investment trust (REIT). The Company is engaged in the ownership management and redevelopment of retail and mixed-use properties. As of December 31 2014 the Company owned or had a majority interest in community and neighborhood shopping centers and mixed-use properties which are operated as 89 retail real estate projects comprising approximately 20.2 million square feet. These properties are located primarily in the Northeast and Mid-Atlantic regions of the United States as well as in California. As of December 31 2014 the Company owned six retail real estate projects totaling approximately 0.8 million square feet through a joint venture in which it owns a 30% interest. As of December 31 2014 the Company’s real estate projects were 95.6% leased and 94.7% occupied.