Wells Fargo & Company Upgrades Federal Realty Investment Trust (NYSE:FRT) to Strong-Buy

Federal Realty Investment Trust (NYSE:FRT) was upgraded by Wells Fargo & Company to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other equities analysts have also issued reports on FRT. Raymond James Financial reissued an “outperform” rating and set a $135.00 target price on shares of Federal Realty Investment Trust in a research note on Monday, June 29th. Scotiabank lifted their target price on Federal Realty Investment Trust from $118.00 to $128.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. Evercore set a $122.00 price target on shares of Federal Realty Investment Trust in a research note on Tuesday, July 7th. Citigroup increased their price target on shares of 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. Finally, Piper Sandler raised their price objective on shares of Federal Realty Investment Trust from $127.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Federal Realty Investment Trust presently has a consensus rating of “Moderate Buy” and an average target price of $127.62.

Federal Realty Investment Trust Stock Up 1.0%

NYSE:FRT opened at $126.07 on Thursday. Federal Realty Investment Trust has a 52 week low of $89.99 and a 52 week high of $126.86. The stock’s fifty day moving average is $121.97 and its two-hundred day moving average is $112.10. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 2.97 and a beta of 0.93. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.51.

Institutional Investors Weigh In On Federal Realty Investment Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRT. Norges Bank purchased a new position in shares of Federal Realty Investment Trust during the fourth quarter worth approximately $734,290,000. AQR Capital Management LLC raised its position in Federal Realty Investment Trust by 116.3% in the 4th quarter. AQR Capital Management LLC now owns 1,820,547 shares of the real estate investment trust’s stock valued at $183,511,000 after purchasing an additional 979,064 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Federal Realty Investment Trust by 453.1% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 587,687 shares of the real estate investment trust’s stock valued at $59,539,000 after purchasing an additional 481,427 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Federal Realty Investment Trust during the 4th quarter worth $46,415,000. Finally, Millennium Management LLC boosted its stake in Federal Realty Investment Trust by 1,920.6% during the 4th quarter. Millennium Management LLC now owns 477,038 shares of the real estate investment trust’s stock worth $48,085,000 after purchasing an additional 453,429 shares during the period. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Federal Realty Investment Trust Company 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.