Federal Realty Investment Trust Rating Reiterated by Zacks (FRT)
Federal Realty Investment Trust (NYSE:FRT)‘s stock had its “neutral” rating restated by Zacks in a report released on Monday. They currently have a $127.00 price target on the stock. Zacks‘s price target would suggest a potential upside of 4.63% from the company’s current price.
Zacks’ analyst wrote, “Federal Realty is scheduled to report its second-quarter 2014 results on Aug 7, after the closing bell. The company bounced back with an earnings surprise in the first quarter. The FFO figure not only exceeded the Zacks Consensus Estimate, it also came above the prior year quarter figure. This was driven by strong core operating portfolio performance. In particular, the company’s portfolio of Class A shopping centers along with the diversified tenant base, comprising grocery stores and low-end discount retailers, position it well to maintain the upward trend. Going forward, we believe that Federal Realty’s expansion strategy has long-term value potential and promises steady income growth. Yet, a huge development and redevelopment pipeline and intense competition somewhat restrict its growth impetus. Additionally, a rise in online customer purchases continues to be a headwind for the demand of its properties. “
Shares of Federal Realty Investment Trust (NYSE:FRT) traded up 0.28% during mid-day trading on Monday, hitting $121.72. The stock had a trading volume of 159,754 shares. Federal Realty Investment Trust has a 52 week low of $95.84 and a 52 week high of $123.37. The stock’s 50-day moving average is $120.0 and its 200-day moving average is $112.9. The company has a market cap of $8.188 billion and a price-to-earnings ratio of 48.51.
Federal Realty Investment Trust (NYSE:FRT) last released its earnings data on Thursday, May 8th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.02. The company had revenue of $170.80 million for the quarter, compared to the consensus estimate of $164.60 million. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts expect that Federal Realty Investment Trust will post $4.92 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on FRT. Analysts at ISI Group downgraded shares of Federal Realty Investment Trust from a “buy” rating to a “neutral” rating in a research note on Monday, June 9th. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Federal Realty Investment Trust in a research note on Friday, May 16th. They now have a $119.00 price target on the stock, up previously from $117.00. Finally, analysts at Imperial Capital raised their price target on shares of Federal Realty Investment Trust from $114.00 to $118.00 in a research note on Monday, May 12th. They now have an “in-line” rating on the stock. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Federal Realty Investment Trust currently has an average rating of “Hold” and an average target price of $116.89.
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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