Mattern Capital Management LLC Grows Holdings in Federal Realty Investment Trust (NYSE:FRT)

by · The Markets Daily

Mattern Capital Management LLC lifted its position in Federal Realty Investment Trust (NYSE:FRT – Free Report) by 6.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,448 shares of the real estate investment trust’s stock after purchasing an additional 3,625 shares during the quarter. Mattern Capital Management LLC owned about 0.08% of Federal Realty Investment Trust worth $5,660,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. purchased a new position in Federal Realty Investment Trust during the first quarter valued at approximately $1,481,079,000. Norges Bank purchased a new stake in shares of Federal Realty Investment Trust in the fourth quarter valued at approximately $728,764,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Federal Realty Investment Trust in the third quarter valued at approximately $80,342,000. Invesco Ltd. increased its position in shares of Federal Realty Investment Trust by 62.6% in the first quarter. Invesco Ltd. now owns 1,330,651 shares of the real estate investment trust’s stock valued at $162,432,000 after buying an additional 512,382 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Federal Realty Investment Trust by 4.7% in the first quarter. State Street Corp now owns 7,816,925 shares of the real estate investment trust’s stock worth $962,292,000 after acquiring an additional 351,320 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Federal Realty Investment Trust Trading Down 2.2 %

NYSE:FRT traded down $2.25 on Monday, reaching $99.72. The company’s stock had a trading volume of 57,636 shares, compared to its average volume of 690,586. Federal Realty Investment Trust has a 12-month low of $85.27 and a 12-month high of $112.58. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.61. The firm has a market cap of $8.13 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 3.41 and a beta of 1.23. The stock has a 50 day moving average price of $101.70 and a 200 day moving average price of $97.28.

Analysts Set New Price Targets

FRT has been the topic of a number of research analyst reports. Evercore ISI raised Federal Realty Investment Trust from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $104.00 to $108.00 in a research note on Monday, November 27th. Barclays lifted their price target on Federal Realty Investment Trust from $119.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Wells Fargo & Company lowered their price target on Federal Realty Investment Trust from $103.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Monday, November 13th. Piper Sandler lifted their price target on Federal Realty Investment Trust from $116.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 20th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Federal Realty Investment Trust in a research note on Tuesday, January 30th. They issued a “hold” rating and a $109.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.27.

View Our Latest Report on Federal Realty Investment Trust

Insider Buying and Selling at Federal Realty Investment Trust

In other Federal Realty Investment Trust news, CEO Donald C. Wood sold 345 shares of Federal Realty Investment Trust stock in a transaction on Monday, December 4th. The stock was sold at an average price of $99.91, for a total value of $34,468.95. Following the sale, the chief executive officer now owns 209,259 shares in the company, valued at $20,907,066.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Donald C. Wood sold 345 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $99.91, for a total value of $34,468.95. Following the sale, the chief executive officer now owns 209,259 shares in the company, valued at approximately $20,907,066.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey S. Berkes sold 4,870 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $94.86, for a total value of $461,968.20. Following the completion of the sale, the chief operating officer now owns 65,470 shares in the company, valued at approximately $6,210,484.20. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

About Federal Realty Investment Trust

(Free Report)

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.

See Also