Federal Realty Investment Trust (FRT) Releases Quarterly Earnings Results, Beats Expectations By $0.92 EPS
Federal Realty Investment Trust (NYSE:FRT) announced its earnings results on Thursday. The company reported $1.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.31 by $0.92, StockRatingsNetwork.com reports. The company had revenue of $167.90 million for the quarter, compared to the consensus estimate of $277.99 million. During the same quarter last year, the company posted $1.14 earnings per share. Federal Realty Investment Trust’s revenue was up 6.7% compared to the same quarter last year. Federal Realty Investment Trust updated its FY14 guidance to $4.90-4.94 EPS.
Shares of Federal Realty Investment Trust (NYSE:FRT) traded up 0.24% during mid-day trading on Thursday, hitting $121.42. 249,102 shares of the company’s stock traded hands. Federal Realty Investment Trust has a 52-week low of $95.84 and a 52-week high of $124.96. The stock has a 50-day moving average of $122.2 and a 200-day moving average of $116.4. The company has a market cap of $8.168 billion and a price-to-earnings ratio of 48.41.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Monday, September 22nd will be given a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.87%.
FRT has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Federal Realty Investment Trust in a research note on Thursday, July 17th. They now have a $118.00 price target on the stock, up previously from $113.00. On the ratings front, 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. Finally, 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. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $116.50.
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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