Federal Realty Investment Trust (NYSE:FRT) Updates FY 2024 Earnings Guidance

Federal Realty Investment Trust (NYSE:FRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 6.760-6.860 for the period, compared to the consensus EPS estimate of 6.800. The company issued revenue guidance of -. Federal Realty Investment Trust also updated its FY24 guidance to $6.76-6.86 EPS.

Federal Realty Investment Trust Stock Performance

Shares of NYSE:FRT traded down $2.12 on Thursday, hitting $112.13. The company’s stock had a trading volume of 516,680 shares, compared to its average volume of 616,104. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 39.65, a price-to-earnings-growth ratio of 2.16 and a beta of 1.23. The stock’s 50-day moving average is $114.07 and its two-hundred day moving average is $107.61. Federal Realty Investment Trust has a 12 month low of $88.25 and a 12 month high of $118.34. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.74 and a current ratio of 1.74.

Federal Realty Investment Trust (NYSE:FRT) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.36). The company had revenue of $295.80 million for the quarter, compared to analyst estimates of $293.61 million. Federal Realty Investment Trust had a net margin of 24.69% and a return on equity of 10.07%. Federal Realty Investment Trust’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.67 EPS. On average, equities research analysts forecast that Federal Realty Investment Trust will post 6.81 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on FRT. Evercore ISI upped their price target on shares of Federal Realty Investment Trust from $120.00 to $123.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Scotiabank decreased their target price on Federal Realty Investment Trust from $120.00 to $119.00 and set a “sector outperform” rating for the company in a research report on Friday, October 11th. Compass Point increased their price objective on Federal Realty Investment Trust from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Citigroup raised Federal Realty Investment Trust from a “neutral” rating to a “buy” rating and lifted their target price for the company from $120.00 to $135.00 in a research note on Friday, September 13th. Finally, Wells Fargo & Company raised their price target on shares of Federal Realty Investment Trust from $115.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $122.77.

Insiders Place Their Bets

In other Federal Realty Investment Trust news, CEO Donald C. Wood sold 5,937 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $116.47, for a total value of $691,482.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Federal Realty Investment Trust news, CEO Donald C. Wood sold 30,292 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $116.17, for a total transaction of $3,519,021.64. Following the sale, the chief executive officer now directly owns 6,637 shares of the company’s stock, valued at approximately $771,020.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Donald C. Wood sold 5,937 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $116.47, for a total value of $691,482.39. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Federal Realty Investment Trust Company Profile

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.