David Faeder, a director at Federal Realty Investment Trust (FRT), recently picked up 10,565 shares. The buy increased his holdings by 79 percent, and came to a total cost of just over $1,012,000.
This marks the first insider buy at the company in the past three years, and the end of a two-year period with no insider activity whatsoever. Otherwise, company insiders, most notably the company President and CEO, have been sellers of shares, but only as recently as 2020.
Overall, insiders at the company own 0.9 percent of shares.
Shares of the REIT, which focuses on retail properties in coastal markets, are down about 15 percent in the past year. That’s in spite of an 18 percent rise in revenues in the past year, and an 8 percent rise in earnings.
Action to take: Shares of the REIT currently yield about 4.5 percent, with a slight increase in the dividend over the past year. As with any REIT, investors should look to buy at a low price, as most of the earnings go to support the high yield. Investors can likely find an opportunity in the coming months to buy in the low $90 range in coming months.
For traders, the November $100 calls are just in-the-money. Last going for about $6.60, traders can likely buy slightly lower on a down day in the coming days to take advantage of today’s volatile markets.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.