Federal Realty Investment Trust (FRT) Posts Quarterly Earnings, Beats Expectations By $0.01 EPS
Federal Realty Investment Trust (NYSE:FRT) announced its earnings results on Friday. The company reported $1.16 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.15 by $0.01, American Banking News reports. The company had revenue of $159.03 million for the quarter, compared to the consensus estimate of $158.00 million. During the same quarter in the prior year, the company posted $1.12 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Federal Realty Investment Trust in a research note to investors on Tuesday, October 8th. They now have a $108.00 price target on the stock. On the ratings front, analysts at Jefferies Group upgraded shares of Federal Realty Investment Trust from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, September 18th. They now have a $116.00 price target on the stock, up previously from $112.00. Finally, analysts at Capital One Financial Corp. initiated coverage on shares of Federal Realty Investment Trust in a research note to investors on Monday, September 16th. They set a “neutral” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $109.14.
Federal Realty Investment Trust (NYSE:FRT) opened at 103.60 on Friday. Federal Realty Investment Trust has a 1-year low of $94.35 and a 1-year high of $118.52. The stock’s 50-day moving average is $103.6 and its 200-day moving average is $105.8. The company has a market cap of $6.806 billion and a P/E ratio of 46.28.
Federal Realty Investment Trust (NYSE:FRT) is an equity real estate investment trust (REIT) specializing in the ownership, management, and redevelopment of retail and mixed-use properties located in metropolitan markets in the Northeast and Mid-Atlantic regions of the United States, as well as in California.
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