Federal Realty Investment Trust (FRT)

NYSE: FRT · USD

$108

-1.44 (-1.3%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-15

Our latest published analysis: FRT rated Hold

Federal Realty Investment Trust's published Hold conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$103 / share

Potential value

$140 / share

Upside to FV

-2.3%

from $108

Moat

6.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$9.1B
Revenue (ttm)	1.3B
Net income (ttm)	426.7M
EPS (ttm)	$4.96
Shares out	87.4M
P/E (trailing)	21.8x
P/E (forward)	34.7x
Dividend	$4.64 (4.29%)
Volume	597,165
Beta	0.94

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 1.3B
Net income (ttm): 426.7M
EPS (ttm): $4.96
P/E (trailing): 21.8x
P/E (forward): 34.7x
Market cap: $9.1B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$951.2M	$1.07B	$1.13B	$1.20B	$1.28B	+7.7%
Gross profit	$634.6M	$717.6M	$769.1M	$810.7M	$124.4M	-33.5%
Operating income	$394.7M	$526.4M	$406.5M	$472.4M	$602.2M	+11.1%
Net income	$261.5M	$385.5M	$237.0M	$295.2M	$411.1M	+12.0%
EPS (diluted)	$3.26	$4.71	$2.80	$3.42	$4.68	+9.5%
EBITDA	$676.8M	$835.1M	$736.8M	$822.4M	$972.6M	+9.5%
R&D	$0	$0	$0	—	—	-11.4%
SG&A	$49.9M	$52.6M	$50.7M	$49.7M	$46.9M	-1.5%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AMT	American Tower Corporation	85.1B	25.8x	7.5x	7.8%	+4.0%	+0.7%	减持
ARE	Alexandria Real Estate Equities Inc.	6.9B	—	2.4x	0.9%	+6.6%	-45.8%	持有
CCI	Crown Castle Inc.	37.4B	46.3x	9.1x	5.1%	-7.9%	-6.2%	卖出
CPT	Camden Property Trust	10.3B	32.3x	6.6x	3.2%	+7.7%	-0.6%	买入
DLR	Digital Realty Trust, Inc.	68B	86.6x	10.0x	2.4%	+9.3%	+3.7%	卖出
DOC	Healthpeak Properties, Inc.	13B	53.8x	4.4x	2.5%	+10.5%	+3.0%	强力买入

Base and Bull scenarios

Base50%

Price target

$102.50

-2.3% from spot

The Base scenario assumes a probability of 50.0% and establishes a target of $102.50, delivering an implied return of -2.3% relative to the price of $104.94 as of $104.94 (as of 2026-10-14). In this modal path, Federal Realty leverages its supply-constrained infill portfolio to maintain positive leasing spreads and stable operating margins. Redevelopment projects in key coastal hubs progress toward full occupancy, generating incremental rental revenue while staggered debt maturities allow orderly debt refinancing without abrupt shocks to distribution coverage. This scenario is confirmed if same-property operating income maintains steady mid-single-digit expansion through FY2026.

Operating margins stabilize between historical medians and peak levels across coastal properties
Contractual base rent escalations and renewal spreads drive steady revenue expansion
Mixed-use densification projects stabilize on schedule, expanding net asset value

Bull25%

Price target

$140.38

+33.8% from spot

The Bull scenario assumes a probability of 25.0% and targets $140.38, offering an implied return of 33.8% from the price of $104.94 as of $104.94 (as of 2026-10-14). Under this path, accelerating retail demand drives strong double-digit renewal spreads while newly densified residential and commercial components at mixed-use hubs achieve rapid stabilization and premium rents per square foot. Furthermore, favorable macroeconomic conditions and Federal Reserve rate cuts compress capitalization rates, expanding asset values toward Potential value of $140.38. This path would be validated by accelerating AFFO per share growth and significant leasing spread expansion by FY2027.

Re-leasing spreads accelerate across premier suburban retail centers
Mixed-use redevelopment projects stabilize ahead of schedule with premium yields
Capital market conditions improve with lower interest rates and cap rate compression

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($102.50). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
7.8%	$125	$126	$127	$128	$129
8.3%	$115	$116	$117	$118	$119
8.8%	$101	$102	$103	$103	$104
9.3%	$100.0	$101	$101	$102	$103
9.8%	$94.2	$94.7	$95.2	$95.8	$96.4

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E34.7

P25 n/aP50 n/aP75 n/a

Trailing P/E21.5

P25 n/aP50 n/aP75 n/a

ROE12.6

P25 n/aP50 n/aP75 n/a

ROIC3.5

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All FRT indicators

Market & fundamental data

Available fields

258

Groups with data

Currency

USD

Showing 258 of 258 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000034903
Company name	Federal Realty Investment Trust
Country	United States
Country code	US
CUSIP number	313745101
Earnings date	2026-10-30
Earnings time	bmo
Employees	320
Employees change	11
Employees growth	3.56%
Enterprise value	$14.2B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	1962
In index	SP500
Industry	REIT - Retail
Is primary listing	Yes
Is SPAC	No
ISIN number	US3137451015
Last 10-K release date	2026-02-12
Last earnings date	2026-07-31
Last refreshed	2026-10-28
Last stock split date	1985-11-06
Last stock split type	Forward
Market cap	$9.5B
Market cap category	Mid-Cap
Next earnings date	2026-10-30
Options	Yes
Price	$108.24
Price currency	USD
Sector	Real Estate
SIC code	6798
Stock price date	2026-10-28
Symbol	FRT
U.S. state	Maryland
Website	https://www.federalrealty.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	21.51x
Average P/E ratio (10Y)	33.6x
Average P/E ratio (3Y)	28.44x
Average P/E ratio (5Y)	28.59x
Earnings yield	4.58%
EV/Earnings	33.43x
EV/EBIT	30.94x
EV/EBITDA	17.03x
EV/Sales	10.68x
FCF / EV yield	-2.6%
FCF yield	-3.9%
Forward EV/Sales	10.19x
Forward P/E	35.69x
Forward P/S	6.8x
Graham number	64.15059
Graham upside	-41.14%
Industry forward P/E	34.91x
Industry P/E	24.42x
Lynch fair value	$113.91
Lynch upside	4.52%
P/(OCF - SBC) ratio	15.47x
P/B ratio	2.97x
P/E ratio	21.83x
P/FFO ratio	14.81x
P/OCF ratio	15.1x
P/S ratio	7.13x
Price / tangible book value	2.97x
Price/EBITDA ratio	11.37x
Sector forward P/E	29.99x
Sector P/E	40.99x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	34.52%
EBITDA margin	62.73%
Gross margin	68.14%
Operating margin	34.52%
Pretax margin	33.45%
Profit margin	32.66%
Profit per employee	$1.3M
Profitable quarters	23
Profitable years	35
Revenue per employee	$4.2M
ROA	3.26%
ROA (5Y)	2.96%
ROCE	5.5%
ROE	12.55%
ROE (5Y)	10.35%
ROIC	3.48%
SBC / revenue	1.12%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	25.2%
EPS growth (Q)	-45.65%
EPS growth (QoQ)	-46.71%
EPS growth 10Y	3.23%
EPS growth 3Y	2.03%
EPS growth 5Y	20.23%
EPS growth years	2
Net income growth	26%
Net income growth (Q)	-45.03%
Net income growth (QoQ)	-46.75%
Net income growth 3Y	4.1%
Net income growth 5Y	22.97%
Net income growth years	2
OCF growth	6.33%
OCF growth (Q)	2.02%
OCF growth (QoQ)	-16.72%
OCF growth 10Y	4.93%
OCF growth 3Y	4.78%
OCF growth 5Y	7.68%
Revenue growth	7.78%
Revenue growth (Q)	7.24%
Revenue growth (QoQ)	-1.82%
Revenue growth 10Y	5.59%
Revenue growth 3Y	6.31%
Revenue growth 5Y	8.87%
Revenue growth quarters	21
Revenue growth years	5

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-113.2M
Depreciation and amortization	$391.5M
EBIT	$461M
EBITDA	$837.7M
EPS	$4.96
FCF per share	$-4.25
Financing cash flow	$-83.1M
Free cash flow	$-371.2M
Free cash flow minus SBC	$-386.2M
Funds from operations (FFO)	$637.6M
Gross profit	$909.9M
Investing cash flow	$-636.7M
Net cash flow	$-88.8M
Net income	$426.7M
Operating cash flow minus SBC	$616M
Operating income	$461M
Revenue	$1.3B
Stock-based compensation	$15M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$36.89
Debt / EBITDA	5.42
Debt / equity	1.34
Interest coverage	2.36
Net cash (debt)	$-4.7B
Net cash / market cap	-49.72%
Net debt / EBITDA	5.65
Net debt / equity	1.31
Piotroski F-Score	6
Property, plant and equipment	$8.3B
Shareholders' equity	$3.6B
Tangible book value	$3.2B
Tangible book value per share	$36.89
Total assets	$9.1B
Total cash	$115.3M
Total debt	$4.9B
Total liabilities	$5.4B
WACC	7.3%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.15
Current ratio	0.56
Net working capital	$-48.4M
Quick ratio	0.55
Working capital	$-298M

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-1.46%
Dividend growth	2.71%
Dividend growth (10Y)	1.82%
Dividend growth (3Y)	1.67%
Dividend growth (5Y)	1.37%
Dividend growth years	59
Dividend payment date	2026-10-15
Dividend payment years	59
Dividend payout frequency	Quarterly
Dividend per share	$4.64
Dividend yield	4.29%
Ex-dividend date	2026-10-01
Last dividend	$1.16
Payout ratio	93.57%
Shareholder yield	2.8%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	-24.44%
10Y return CAGR	1.1%
10Y total return	11.55%
150-day SMA	$115.61
15Y price change	21.09%
15Y return CAGR	4.89%
15Y total return	104.74%
1D price change	-1.31%
1M price change	-2.13%
1M total return	-1.07%
1W price change	1.54%
1W total return	1.54%
1Y price change	7.11%
1Y return CAGR	11.71%
1Y total return	11.7%
20-day SMA	$106.72
200-day SMA	$112.96
20Y price change	37.8%
20Y return CAGR	5.25%
20Y total return	178.04%
3M price change	-14.91%
3M total return	-13.99%
3Y price change	24.84%
3Y return CAGR	12.35%
3Y total return	41.81%
50-day SMA	$111.24
50-day SMA vs 200-day SMA	50under200
52-week high	$128.21
52-week high date	2026-07-28
52-week low	$90.03
52-week low date	2025-11-04
5Y price change	-9.76%
5Y return CAGR	2.19%
5Y total return	11.46%
6M price change	-2.7%
6M total return	-0.74%
All-time high	$171.08
All-time high date	2016-07-29
All-time low	$3.21
All-time low date	1975-09-24
Average true range (ATR)	$1.66
Average volume	876.5K
Beta (1Y)	0.13
Beta (2Y)	0.55
Beta (5Y)	0.94
Change from 52-week high	-15.58%
Change from 52-week low	20.22%
Change from all-time high	-36.77%
Change from all-time low	3,271.88%
Change from open	-0.53%
Day's gap	-0.78%
Dollar volume	$64.6M
High price	$109.29
Low price	$108.09
Monthly RSI	50.45
Open price	$108.81
Position in 52-week range	12.08%
Premarket change	-8.02%
Premarket close	$109.67
Premarket price	$100.87
Premarket volume	128
Previous close	$109.67
Price vs 150-day SMA	-6.43%
Price vs 20-day SMA	1.35%
Price vs 200-day SMA	-4.24%
Price vs 50-day SMA	-2.76%
Relative volume	0.68
RSI	48.53
Sharpe ratio	0.51
Sharpe ratio (3Y)	0.5
Sharpe ratio (5Y)	0.02
Sortino ratio	1.13
Sortino ratio (3Y)	1.03
Sortino ratio (5Y)	0.27
Volume	597.2K
Weekly RSI	41.35
YTD price change	7.31%
YTD total return	11.91%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	80.1M
Float percentage	91.67%
Shares change (QoQ)	-0.55%
Shares change (YoY)	1.46%
Shares held by insiders	1.07%
Shares held by institutions	93.79%
Shares outstanding	87.4M
Short % of float	5.87%
Short % of shares	5.38%
Short ratio	5 days

Deeper analysis on FRT

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this FRT report

What is the latest published FRT stock rating?

Federal Realty Investment Trust is shown with Hold in the latest published report, analyzed 2026-10-15. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full FRT analysis?

The full latest published report, analyzed 2026-10-15, lives at /stocks/FRT/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for FRT?

The latest published report analyzed 2026-10-15 gives FRT a fair value of USD 103 and a potential value of USD 140. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the FRT page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-15). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

HoldFRT · Fair value $103-2.3%

Read full analysis →

Category	Score	Reading
Valuation	4.5
Management	8.5
Balance Sheet	3.0
Profitability	6.5
Revenue Growth	6.0
Risk Assessment	4.5
Competitive Moat	6.5
Earnings Quality	6.0
Capital Efficiency	3.5

Federal Realty Investment Trust (FRT)

Our latest published analysis: FRT rated Hold

Price

Financial snapshot

Fair-value bridge

Latest news · FRT

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All FRT indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on FRT

Frequently asked questions

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