PNC Financial Services Group Inc. Increases Position in Federal Realty Investment Trust (NYSE:FRT)

PNC Financial Services Group Inc. boosted its holdings in shares of Federal Realty Investment Trust (NYSE:FRT) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,426 shares of the real estate investment trust’s stock after acquiring an additional 1,664 shares during the period. PNC Financial Services Group Inc.’s holdings in Federal Realty Investment Trust were worth $3,613,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FRT. NBC Securities Inc. grew its stake in Federal Realty Investment Trust by 81.7% during the 3rd quarter. NBC Securities Inc. now owns 238 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 107 shares in the last quarter. Family Firm Inc. purchased a new stake in Federal Realty Investment Trust during the 2nd quarter valued at about $33,000. Blue Trust Inc. grew its stake in Federal Realty Investment Trust by 885.7% during the 2nd quarter. Blue Trust Inc. now owns 345 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 310 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Federal Realty Investment Trust during the 2nd quarter valued at about $42,000. Finally, Eastern Bank purchased a new stake in shares of Federal Realty Investment Trust in the 3rd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

Insider Activity

In other news, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Raymond James increased their price target on shares of Federal Realty Investment Trust from $108.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Evercore ISI increased 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 note on Monday, September 16th. Mizuho increased their price target on shares of Federal Realty Investment Trust from $104.00 to $116.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Citigroup raised shares of Federal Realty Investment Trust from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $120.00 to $135.00 in a research report on Friday, September 13th. Finally, Scotiabank lowered their price objective on shares of 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. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $122.85.

Federal Realty Investment Trust Price Performance

Federal Realty Investment Trust stock opened at $114.86 on Monday. Federal Realty Investment Trust has a 52-week low of $91.40 and a 52-week high of $118.34. The company’s 50 day moving average is $113.27 and its two-hundred day moving average is $109.05. The firm has a market cap of $9.53 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $1.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.83%. Federal Realty Investment Trust’s payout ratio is 127.91%.

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.