Federal Realty Investment Trust (NYSE:FRT) Updates FY24 Earnings Guidance

Federal Realty Investment Trust (NYSE:FRT) updated its FY24 earnings guidance on Thursday. 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.

Federal Realty Investment Trust Stock Up 0.6 %

Federal Realty Investment Trust stock traded up $0.63 during midday trading on Thursday, reaching $104.91. The stock had a trading volume of 984,309 shares, compared to its average volume of 656,657. The company has a fifty day moving average price of $100.55 and a two-hundred day moving average price of $98.96. The company has a market capitalization of $8.70 billion, a P/E ratio of 37.49, a PEG ratio of 1.98 and a beta of 1.20. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 1.60. Federal Realty Investment Trust has a 12 month low of $85.27 and a 12 month high of $107.61.

Federal Realty Investment Trust (NYSE:FRT) last issued its earnings results on Monday, February 12th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.88). The firm had revenue of $291.50 million during the quarter, compared to the consensus estimate of $292.05 million. Federal Realty Investment Trust had a return on equity of 8.35% and a net margin of 20.93%. Federal Realty Investment Trust’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.58 earnings per share. As a group, equities analysts expect that Federal Realty Investment Trust will post 6.8 EPS for the current fiscal year.

Federal Realty Investment Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, March 13th were issued a $1.09 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 4.16%. Federal Realty Investment Trust’s dividend payout ratio is presently 155.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company raised shares of Federal Realty Investment Trust from an equal weight rating to an overweight rating and upped their price objective for the stock from $110.00 to $112.00 in a research report on Thursday, February 29th. Mizuho decreased their price objective on shares of Federal Realty Investment Trust from $104.00 to $101.00 and set a neutral rating for the company in a report on Friday, February 23rd. Truist Financial reiterated a buy rating and issued a $117.00 target price on shares of Federal Realty Investment Trust in a research note on Monday, March 25th. Deutsche Bank Aktiengesellschaft upgraded shares of Federal Realty Investment Trust from a hold rating to a buy rating and raised their price target for the stock from $109.00 to $110.00 in a research note on Monday, April 22nd. Finally, Scotiabank dropped their price objective on Federal Realty Investment Trust from $110.00 to $109.00 and set a sector outperform rating on the stock in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Federal Realty Investment Trust has a consensus rating of Moderate Buy and a consensus target price of $112.70.

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.