Federal Realty Investment Trust

Federal Realty Investment Trust

FRT
Federal Realty Investment TrustUS flagNew York Stock Exchange
123.38
USD
-1.33
- -
10.66BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
9.76
10.19
10.81
11.31
11.89
12.49
12.52
11.06
12.3
13.45
13.92
14.39
14.9
15.24
Basic EPS, GAAP
2.48
2.44
3.05
3.52
3.99
3.19
4.63
1.64
3.28
4.73
2.82
3.44
4.69
5.8
Free Cash Flow per Basic Share
4.81
5.14
5.36
6.03
6.36
7.05
6.18
4.9
6.09
6.47
6.84
6.88
7.25
7.3
Dividend per Share
2.95
3.2
3.54
3.78
3.92
4.11
4.2
4.3
4.34
4.35
4.42
4.45
4.52
4.55
Book Value per Share
-9.54
-10.15
-10.52
-10.57
-10.38
-11.17
-10.57
-13.08
-13.79
-12.94
-14.26
-14.86
-14.25
-13.54
Tangible Book Value per Share
23.97
26.76
27.75
31.17
32.9
33.35
34.99
33.46
35.13
38.23
37.7
39.07
38.91
39.59
Basic Weighted Avg Shares
65
67
69
71
72
73
75
76
77
80
81
84
86
86
Sales/Revenue/Turnover
637
686
744
802
857
915
936
835
951
1,074
1,132
1,202
1,279
1,311
Operating Margin (%)
39.87
39.5
40.34
40.04
38.76
38.2
37.88
29.76
32.04
33.75
35.03
34.79
35.93
35.76
Depreciation Expense
161
171
175
194
216
244
240
255
280
302
322
343
368
380
Net Income, GAAP
163
165
210
250
290
242
354
132
261
385
237
295
411
506
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
25.52
23.98
28.25
31.18
33.82
26.43
37.81
15.76
27.49
35.88
20.93
24.55
32.14
38.63
Working Capital
7
-28
-55
-119
-33
-37
-48
665
-6
-16
164
50
15
10
LT Debt
2,322
2,410
2,627
2,798
3,285
3,229
3,502
4,436
4,192
4,475
4,688
4,561
5,028
4,934
Total Equity
1,576
1,812
1,919
2,220
2,533
2,604
2,776
2,686
2,877
3,212
3,226
3,424
3,501
3,564
Return on Invested Capital (%)
6.77
6.68
6.81
6.67
6.11
5.98
5.85
3.71
4.3
4.91
5.08
5.26
5.56
5.67
Return on Capital (%)
14.65
13.27
14.14
14.85
14.4
11.83
15.38
7.6
10.3
13.77
10.1
12.02
14.65
17.29
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
4,723
4,943
4,850
LT Finance Leases
86
85
84
Preferred Equity and Hybrid Capital
160
160
160
Shares Outstanding
86
86
86
Market Capitalization
8,665
8,654
9,133

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
360
366
365
Cash, Cash Equivalents & STI
111
107
116
Accounts Receivable, Net
240
250
249
Inventories
- -
- -
- -
Total Current Liabilities
356
351
355
Payables & Accruals
356
351
355
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.35%
5.51%
2.23%
Free Cash Flow
6.16%
11.26%
8.32%
Net Income, GAAP
17.31%
34.25%
39.25%
Sales/Revenue/Turnover
5.77%
8.95%
6.36%
Total Cash Common Dividend
4.6%
3.72%
4.53%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
291
296
304
311
1,202
2025
309
312
322
336
1,279
2026
341
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.66
1.33
0.7
0.75
3.44
2025
0.72
1.79
0.69
1.49
4.69
2026
1.83
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.11
1.11
1.1
1.12
4.45
2025
1.12
1.12
1.12
1.15
4.52
2026
1.15
- -
- -
- -
- -

Company Description

MCPAPIChat
CEO
Donald C. Wood
Full Time Employees
304
Sector
Real Estate
Industry
REIT - Retail
Address
909 Rose Avenue North Bethesda MD United States of America 20852
IPO Date
May 3, 1973
Business
Federal Realty Investment Trust (NYSE: FRT), founded in 1962 and headquartered in North Bethesda, Maryland, owns, operates, and redevelops high-quality retail-based properties and large-scale mixed-use neighborhoods primarily in major coastal U.S. markets including the Washington, D.C., Boston, New York, San Francisco, and Los Angeles metropolitan areas, as well as select underserved regions with strong demographics; its portfolio comprises approximately 102 to 105 properties totaling 27 million to 27.4 million square feet of retail space, 3,000 to 3,100 multifamily residential units, and additional office and hospitality components across 11 states and Washington, D.C., with a valuation exceeding $7 billion. The company offers grocery-anchored neighborhood and community shopping centers, superregional centers, power centers, street retail collections, and prominent mixed-use destinations such as Santana Row in San Jose, California; Pike & Rose in North Bethesda, Maryland; Assembly Row near Boston, Massachusetts; Bethesda Row in Bethesda, Maryland; and CocoWalk in Miami, Florida; leasing to a diverse tenant base of national and regional retailers, restaurants, entertainment venues, service providers including healthcare, financial, and professional services representing 25% of tenants, and digitally native brands, supported by comprehensive property management services encompassing 24/7 maintenance, customized tenant improvement programs averaging $35 per square foot, digital communication platforms, quarterly satisfaction surveys, and proactive capital improvements budgeted at $42 million annually. Federal Realty generates revenue primarily through rental income from these assets, maintains high occupancy rates around 93.5% to 95%, and delivers long-term sustainable growth as one of the oldest U.S. REITs with the longest record of consecutive dividend increases; it targets affluent, densely populated areas with high barriers to entry, superior population density and median household incomes relative to peers, and emphasizes placemaking to create vibrant, walkable communities blending retail, residential, office, and experiential elements. Recent developments include the 2024 acquisitions of Virginia Gateway, Pinole Vista Crossing for $60 million, and two California properties subsequently sold for $143 million; the Q1 2025 acquisition pipeline exceeding $250 million with $150 million under contract and authorization of a $300 million share buyback program; the July 2025 completion of the $187 million Annapolis Town Center acquisition, a 480,000-square-foot open-air center in Maryland; Q2 2025 purchases of two dominant Leawood, Kansas retail centers totaling 550,000 square feet for $289 million; commencement of construction on Lot 12 at Santana Row, a 258-unit residential project with $145 million projected investment; and a pioneering agreement with Mercedes-Benz High-Power Charging to deploy over 500 ultra-fast EV stalls across at least 50 properties, alongside ongoing development phases at Pike & Rose Phase IV and Santana West, enhanced leasing momentum, raised 2024 FFO guidance to $6.81 midpoint, and sustained liquidity over $1.4 billion to $1.6 billion with improved net debt to EBITDA at 5.5x.

Company News

MCPAPIChat
  • PLD vs. FRT: Which REIT Has the Better Growth Story?

  • Federal Realty Investment Trust Announces Second Quarter 2026 Earnings Release Date and Conference Call Information

  • PECO or FRT: Which Is the Better Value Stock Right Now?

  • Federal Realty Stock Rises 12.3% in 3 Months: Will it Keep Going?

  • Federal Realty Trust: Still Undervalued To Our Fair Value Target

  • Here Are Monday’s Top Wall Street Analyst Research Calls: Accenture, Caesars Entertainment, Carnival, Dell Technologies, IBM, Kohl’s, Microsoft, Zscaler, and More

  • Here Are Friday’s Top Wall Street Analyst Research Calls: Best Buy, Cogent Communications, Dell Technologies, EPAM Systems, Federal Realty, Gap, Snowflake, Viper Energy, and More

  • Federal Realty Investment Trust Upgraded As Q1 Strengthens The Growth And Dividend Case

  • Federal Realty vs. Regency Centers: Which Retail REIT to Buy Now?

  • Federal Realty Investment Trust (FRT) Analyst/Investor Day Transcript

  • Realty Income Raises Its Investment Bar: Does $9.5B Show Confidence?

  • 2 Financial Stocks to Buy and 1 to Approach With Caution

  • Federal Realty to Webcast 2026 Investor Day Presentation

  • All You Need to Know About Federal Realty Investment Trust (FRT) Rating Upgrade to Buy

  • O Tops Q1 AFFO Estimates, Continues Active Capital Deployment, Ups View

  • Federal Realty Investment Trust (FRT) Shareholder/Analyst Call Prepared Remarks Transcript

  • The Market Is Volatile. These 3 Stocks Will Pay You No Matter What.

  • REITs Excel, Earnings Swell, Fed Rebels

  • Federal Realty Investment Trust (FRT) Q1 2026 Earnings Call Highlights: Strong FFO Growth and Record Leasing Activity

  • Federal Realty Investment Trust (FRT) Q1 2026 Earnings Call Transcript