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.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Federal Realty Investment Trust from $119.00 to $120.00 and gave the stock an overweight rating in a research note on Friday, January 19th. Bank of America boosted their price objective on shares of Federal Realty Investment Trust from $118.00 to $124.00 and gave the company a buy rating in a research report on Friday, April 5th. Truist Financial restated a buy rating and issued a $117.00 target price on shares of Federal Realty Investment Trust in a research report on Monday, March 25th. Scotiabank dropped their price target on shares of Federal Realty Investment Trust from $110.00 to $109.00 and set a sector outperform rating on the stock in a research report on Wednesday, February 28th. Finally, 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 stock from $109.00 to $110.00 in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $113.30.

Federal Realty Investment Trust Trading Down 2.8 %

NYSE:FRT traded down $2.90 during trading hours on Friday, hitting $102.01. 1,336,869 shares of the company were exchanged, compared to its average volume of 625,133. 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 stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 36.30, a price-to-earnings-growth ratio of 1.94 and a beta of 1.20. The company has a fifty day simple moving average of $100.75 and a 200 day simple moving average of $99.14. Federal Realty Investment Trust has a one year low of $85.27 and a one year high of $107.61.

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 analysts’ consensus estimates of $1.64 by ($0.88). The business 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 firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $1.58 earnings per share. Sell-side analysts expect that Federal Realty Investment Trust will post 6.81 EPS for the current fiscal year.

Federal Realty Investment Trust Dividend Announcement

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