Jim Cramer’s 5 Favorite Dividend Aristocrats

2. Federal Realty Investment Trust (NYSE:FRT)

Number of Hedge Fund Holders: 24

Dividend Yield as of September 12: 4.26%

Jim Cramer likes Federal Realty Investment Trust (NYSE:FRT) because of the REIT’s portfolio of mixed-use suburban properties, which the journalist investor sees as recession-proof. Cramer also noted that he likes the stock’s dividend yield, which as of September 12, sits at 4.26%.

On August 4, Federal Realty Investment Trust (NYSE:FRT) announced earnings for the fiscal second quarter of 2022. The company reported funds from operations of $1.65 and beat expectations by $0.16. The company’s revenue for the quarter amounted to $286.8 million, up 14.3% year over year, and outperformed Wall Street estimates by $13 million.

Shortly after its earnings release, Federal Realty Investment Trust (NYSE:FRT) declared a quarterly cash dividend of $1.08 per share up 1% from its prior dividend of $1.07. The dividend is payable on October 17 to shareholders of record on September 22.

On August 22, Truist analyst Ki Bin Kim revised his price target on Federal Realty Investment Trust (NYSE:FRT) to $120 from $125 and maintained a Hold rating on the shares.

At the end of the second quarter of 2022, 24 hedge funds were long Federal Realty Investment Trust (NYSE:FRT) and held stakes worth $199.8 million in the company.