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

Federal Realty Investment Trust (NYSE:FRT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 6.700-6.880 for the period, compared to the consensus EPS estimate of 6.790. The company issued revenue guidance of -. Federal Realty Investment Trust also updated its FY24 guidance to $6.70-6.88 EPS.

Federal Realty Investment Trust Stock Performance

Shares of FRT stock traded down $0.32 during trading hours on Friday, reaching $112.48. 979,478 shares of the company’s stock were exchanged, compared to its average volume of 492,730. The company has a market cap of $9.33 billion, a P/E ratio of 40.03, a price-to-earnings-growth ratio of 2.26 and a beta of 1.23. The company’s 50 day moving average is $103.57 and its two-hundred day moving average is $101.90. Federal Realty Investment Trust has a 1 year low of $85.59 and a 1 year high of $115.05. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.69 and a quick ratio of 1.69.

Federal Realty Investment Trust (NYSE:FRT) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.36). The business had revenue of $295.80 million for the quarter, compared to analysts’ expectations of $293.61 million. Federal Realty Investment Trust had a return on equity of 10.14% and a net margin of 24.69%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the company posted $1.67 earnings per share. Equities research analysts anticipate that Federal Realty Investment Trust will post 6.8 EPS for the current fiscal year.

Federal Realty Investment Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a $1.10 dividend. This is an increase from Federal Realty Investment Trust’s previous quarterly dividend of $1.09. This represents a $4.40 annualized dividend and a yield of 3.91%. The ex-dividend date is Tuesday, October 1st. Federal Realty Investment Trust’s dividend payout ratio (DPR) is presently 155.16%.

Analysts Set New Price Targets

A number of equities research analysts have commented on FRT shares. Mizuho increased their target price on Federal Realty Investment Trust from $101.00 to $104.00 and gave the company a neutral rating in a report on Thursday, May 23rd. Evercore ISI lowered their target price on Federal Realty Investment Trust from $115.00 to $114.00 and set an outperform rating on the stock in a report on Friday, May 3rd. Wells Fargo & Company raised their price objective on Federal Realty Investment Trust from $112.00 to $115.00 and gave the stock an overweight rating in a report on Tuesday, May 28th. Piper Sandler raised their price objective on Federal Realty Investment Trust from $122.00 to $135.00 and gave the stock an overweight rating in a report on Friday. Finally, Truist Financial decreased their price objective on Federal Realty Investment Trust from $117.00 to $115.00 and set a buy rating on the stock in a report on Monday, May 20th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $115.30.

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.