Principal Financial Group Inc. Reduces Stock Position in Federal Realty Investment Trust $FRT

Principal Financial Group Inc. cut its holdings in Federal Realty Investment Trust (NYSE:FRT) by 20.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,272 shares of the real estate investment trust’s stock after selling 32,523 shares during the period. Principal Financial Group Inc.’s holdings in Federal Realty Investment Trust were worth $13,199,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Federal Realty Investment Trust in the 4th quarter valued at about $734,290,000. State Street Corp increased its stake in Federal Realty Investment Trust by 1.4% during the third quarter. State Street Corp now owns 6,668,743 shares of the real estate investment trust’s stock worth $675,610,000 after acquiring an additional 90,127 shares during the last quarter. Resolution Capital Ltd increased its stake in Federal Realty Investment Trust by 11.8% during the second quarter. Resolution Capital Ltd now owns 3,264,653 shares of the real estate investment trust’s stock worth $310,109,000 after acquiring an additional 344,189 shares during the last quarter. Invesco Ltd. raised its position in Federal Realty Investment Trust by 2.7% during the fourth quarter. Invesco Ltd. now owns 2,732,796 shares of the real estate investment trust’s stock valued at $275,466,000 after purchasing an additional 72,718 shares during the period. Finally, Geode Capital Management LLC raised its position in Federal Realty Investment Trust by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 2,198,241 shares of the real estate investment trust’s stock valued at $221,217,000 after purchasing an additional 23,214 shares during the period. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Federal Realty Investment Trust Price Performance

FRT opened at $126.07 on Friday. The business has a fifty day moving average of $121.97 and a 200 day moving average of $112.10. Federal Realty Investment Trust has a 52-week low of $89.99 and a 52-week high of $126.86. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.51. The stock has a market cap of $10.89 billion, a P/E ratio of 21.89, a PEG ratio of 2.97 and a beta of 0.93.

Federal Realty Investment Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Wednesday, July 1st. Federal Realty Investment Trust’s dividend payout ratio (DPR) is 78.47%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Barclays raised their price objective on Federal Realty Investment Trust from $116.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Bank of America increased their price target on Federal Realty Investment Trust from $128.00 to $131.00 and gave the company a “buy” rating in a report on Monday, June 29th. Citigroup raised their price target on Federal Realty Investment Trust from $106.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. UBS Group lifted their price objective on shares of Federal Realty Investment Trust from $118.00 to $127.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Federal Realty Investment Trust from $115.00 to $124.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Federal Realty Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.62.

Federal Realty Investment Trust Profile

Federal Realty Investment Trust (NYSE: FRT) is a real estate investment trust specializing in the ownership, management, and redevelopment of high-quality retail, restaurant, and mixed-use properties. With a strategic focus on open-air shopping centers and lifestyle-oriented urban destinations, the company partners with leading national and regional retailers to curate environments that blend shopping, dining, entertainment, office, and residential uses. Its asset management capabilities extend from initial site selection and development through ongoing property operations and tenant relations.

Federal Realty’s portfolio comprises approximately 100 properties totaling more than 25 million square feet of gross leasable area.