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 earnings per share guidance of $6.67-$6.87 for the period, compared to the consensus earnings per share estimate of $6.80.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FRT shares. Barclays increased their price objective on Federal Realty Investment Trust from $119.00 to $120.00 and gave the company an overweight rating in a research report on Friday, January 19th. Truist Financial reissued a buy rating and issued a $117.00 price target on shares of Federal Realty Investment Trust in a report on Monday, March 25th. Mizuho dropped their price objective on shares of Federal Realty Investment Trust from $104.00 to $101.00 and set a neutral rating on the stock in a report on Friday, February 23rd. Scotiabank reduced their target price on shares of Federal Realty Investment Trust from $110.00 to $109.00 and set a sector outperform rating for the company in a research note on Wednesday, February 28th. Finally, Evercore ISI lowered their price target on Federal Realty Investment Trust from $115.00 to $114.00 and set an outperform rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $113.30.

Federal Realty Investment Trust Price Performance

NYSE FRT traded down $2.90 on Friday, reaching $102.01. The company’s stock had a trading volume of 1,336,869 shares, compared to its average volume of 625,133. Federal Realty Investment Trust has a 52 week low of $85.27 and a 52 week high of $107.61. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 1.60. The firm has a market cap of $8.46 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 1.94 and a beta of 1.20. The business has a 50-day moving average price of $100.75 and a 200 day moving average price of $99.14.

Federal Realty Investment Trust (NYSE:FRT) last released its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.88). The company had revenue of $291.50 million during the quarter, compared to the consensus estimate of $292.05 million. Federal Realty Investment Trust had a net margin of 20.55% and a return on equity of 8.34%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.58 earnings per share. Sell-side analysts expect that Federal Realty Investment Trust will post 6.81 EPS for the current year.

Federal Realty Investment Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 21st will be issued a dividend of $1.09 per share. The ex-dividend date is Friday, June 21st. This represents a $4.36 dividend on an annualized basis and a dividend yield of 4.27%. Federal Realty Investment Trust’s payout ratio is presently 155.16%.

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.