Principal Financial Group Inc. Buys 7,501 Shares of Federal Realty Investment Trust (NYSE:FRT)

Principal Financial Group Inc. raised its stake in shares of Federal Realty Investment Trust (NYSE:FRT) by 8.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,306 shares of the real estate investment trust’s stock after purchasing an additional 7,501 shares during the period. Principal Financial Group Inc.’s holdings in Federal Realty Investment Trust were worth $10,727,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Asset Management One Co. Ltd. boosted its holdings in shares of Federal Realty Investment Trust by 0.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 111,230 shares of the real estate investment trust’s stock valued at $12,788,000 after purchasing an additional 752 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in shares of Federal Realty Investment Trust by 7.1% during the 3rd quarter. Intact Investment Management Inc. now owns 45,430 shares of the real estate investment trust’s stock valued at $5,223,000 after purchasing an additional 3,030 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Federal Realty Investment Trust by 12.7% during the 3rd quarter. Van ECK Associates Corp now owns 35,370 shares of the real estate investment trust’s stock valued at $4,047,000 after purchasing an additional 3,992 shares during the last quarter. Creative Financial Designs Inc. ADV raised its position in shares of Federal Realty Investment Trust by 7.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 6,240 shares of the real estate investment trust’s stock valued at $717,000 after buying an additional 426 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in shares of Federal Realty Investment Trust by 9.5% during the 3rd quarter. New York State Teachers Retirement System now owns 79,894 shares of the real estate investment trust’s stock valued at $9,185,000 after buying an additional 6,962 shares in the last quarter. Institutional investors own 93.86% of the company’s stock.

Insider Activity

In other Federal Realty Investment Trust news, CEO Donald C. Wood sold 30,292 shares of the 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 transaction, the chief executive officer now directly owns 6,637 shares in the company, valued at $771,020.29. This represents a 82.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

FRT has been the topic of several recent research reports. Wells Fargo & Company upped their target price on shares of Federal Realty Investment Trust from $115.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Piper Sandler upped their target price on shares of Federal Realty Investment Trust from $122.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on shares of Federal Realty Investment Trust from $121.00 to $122.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Citigroup upgraded shares of Federal Realty Investment Trust from a “neutral” rating to a “buy” rating and upped their target price for the company from $120.00 to $135.00 in a research report on Friday, September 13th. Finally, Raymond James increased their price objective on shares of Federal Realty Investment Trust from $108.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $122.85.

Federal Realty Investment Trust Stock Up 0.1 %

Shares of NYSE:FRT opened at $113.54 on Monday. The business’s 50 day moving average is $113.58 and its 200 day moving average is $108.67. The stock has a market cap of $9.42 billion, a P/E ratio of 33.01, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. Federal Realty Investment Trust has a 52-week low of $90.84 and a 52-week high of $118.34. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.48.

Federal Realty Investment Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Thursday, January 2nd. Federal Realty Investment Trust’s payout ratio is 127.91%.

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.