Federal Realty Investment Trust
Built from real-time financials, refreshed daily. For a full Analyst Grade with bull/bear case, price targets, and qualitative risk analysis, generate a FRT research report →
Range $116 – $149
Price Chart
About the company
Federal Realty Investment Trust (FRT) stands out as a premier entity specializing in the acquisition, management, and redevelopment of high-quality retail properties. These assets are strategically situated primarily in prominent coastal metropolitan areas, spanning the Eastern Seaboard from Washington D. C.
- CEO
- Donald C. Wood
- IPO
- 1973
- Employees
- 317
- HQ
- North Bethesda, MD, US
Get TickerSpark's AI analysis on FRT
Create an account to generate AI analysis on any ticker — technical setup, analyst consensus, earnings watch, insider pulse, financial health, and peer context. Ready in about a minute.
Get Pro Access →Already have an account? Log in
Similar companies
Peers in the same neighborhood.
- Market Cap
- $9.15B
- P/E
- 21.15
- Fwd P/E
- 24.90
- PEG
- 0.78
- P/S
- 6.85
- P/B
- 2.71
- EV/EBITDA
- 13.66
- Div Yield
- 4.29%
- Gross Margin
- 54.05%
- Op Margin
- 34.49%
- Net Margin
- 32.66%
- ROE
- 13.28%
- ROIC
- 5.08%
Latest fiscal year · YoY change
- Revenue
- $1.28B+6.3%
- Gross Profit
- $124.41M-84.7%
- Op Income
- $459.51M
- Net Income
- $411.08M+39.2%
- EPS
- $4.79+40.1%
- OCF Growth
- +8.3%
- FCF Growth
- +1.0%
- 52W High
- $128.21
- 52W Low
- $90.03
- 50D MA
- $116.48
- 200D MA
- $112.48
- Beta
- 0.92
- RSI (14)
- 17
- Avg Volume
- 851.08K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Federal Realty reported a strong second quarter with record leasing, rising occupancy, and a raised full-year FFO outlook, while emphasizing that acquisitions, redevelopment, and residential densification should keep growth moving higher.· July 31, 2026
- FFO per share was $1.88, up 7% year over year and $0.03 above the midpoint of guidance.
- The company signed 819,000 square feet of comparable leases, the most in any quarter in its history, with 15% average first-year cash rent growth.
- Small shop leased occupancy rose to 93.9% and occupied occupancy to 92.3%, levels management said it has not seen since 2007.
- Full-year NAREIT and core FFO guidance was raised to $7.48 to $7.56 per share; Q3 guidance was set at $1.82 to $1.86 and Q4 at $1.91 to $1.95.
- Management highlighted continued capital recycling, $1.2 billion of liquidity, and a 59th straight annual dividend increase to $1.16 per quarter.
Second-quarter FFO per share was $1.88, up 7% year over year, and $0.03 above the midpoint of guidance. Adjusted comparable cash-basis growth was 4.2% for the quarter and 4.6% year to date; GAAP comparable growth was 2.8% in Q2 and 3.7% year to date. The company signed 124 comparable deals totaling 819,000 square feet, with average first-year cash rent of $33.68, up 15% from prior in-place rent and 28% on a straight-line basis. Same-store revenues increased 3.6% in the quarter. The company raised full-year 2026 NAREIT and core FFO guidance to $7.48 to $7.56 per share, with Q3 guidance of $1.82 to $1.86 and Q4 guidance of $1.91 to $1.95. It also raised the quarterly dividend to $1.16 per share, or $4.64 annually. Balance-sheet metrics included $1.2 billion of liquidity, no debt maturing until mid-2027 except $30 million due in August at 7.5%, net debt to EBITDA of 5.4x, and fixed charge coverage of 3.9x. The company closed $66 million of retail asset sales in Q2 and had $225 million year to date at a blended 5% cap rate.
Donald C. Wood’s tone was confident and upbeat, repeatedly describing the quarter as strong and saying the results validate the company’s focused strategy. He emphasized record leasing, major anchor deals at Grossmont and Barracks Road, and a pipeline of acquisitions and developments that he believes can continue to drive growth. He also framed the portfolio as a long-duration value creator, saying the company is “firing on all cylinders” and sees upside from both retail and residential densification.
Daniel Guglielmone focused on the quarter’s beat, the sources of the outperformance, and the improved outlook. He said the $1.88 FFO per share result was driven by $0.03 from higher rental income and recoveries, $0.02 from stronger percentage rent and parking revenue, roughly $0.01 from term fees, and $0.05 from capital recycling, partly offset by a one-time investment write-off, straight-line write-offs, and higher G&A. He noted $1.2 billion of liquidity, $30 million of debt due in August at 7.5%, no other maturities until mid-2027, and $61 million of ATM equity issuance during the quarter. He also said free cash flow after dividends and maintenance capex should exceed $100 million this year and approach $150 million by 2028, while annual FFO guidance was increased to $7.48 to $7.56 per share.
Analysts pressed on second-half NOI acceleration, acquisition cap-rate compression, redevelopment spend, term-fee upside, and the potential use of joint ventures or asset sales to fund growth. Management said Q3 would still have occupancy churn, with the bigger occupancy and NOI benefit likely showing up in Q4 and more fully in 2027, as anchors open and rent-paying begins. On acquisitions, management said the pipeline is larger than the roughly $1.4 billion discussed at Investor Day, but competition has pushed cap rates lower, making underwriting more selective; they are still targeting deals that can produce better than 8% unlevered IRRs. On redevelopment, Daniel said the company could consider $400 million to $500 million of projects over the next 12 to 24 months if returns work, and Donald said selective joint ventures could be an incremental capital tool, especially for important assets like Bethesda Row.
The call showed strong leasing momentum, better occupancy, and management confidence that the business can keep compounding through rent growth, redevelopment, and capital recycling. Management also pointed to a deep pipeline of acquisitions and projects, plus rising business-development income and parking revenue, as additional growth levers. The raised FFO guidance and continued dividend growth reinforced the message that operating trends are still ahead of expectations.
Management acknowledged that occupancy churn will continue into Q3 and that the bigger financial benefit from new anchors may not show up until 2027. Acquisition economics are getting tougher as cap rates compress and competition rises, with some deals falling below Federal’s return hurdle. Higher G&A from digital and business-development investments, plus a more conservative interest-rate outlook, will offset some of the near-term upside.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 90.8%
- Shares Outstanding
- 86.39M
- Float Shares
- 78.45M
of shares held by institutions
564 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for FRT, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Alan ArmstrongSenate | Buy | Mar 27, 26 | Filing → |
| Ro KhannaHouse · CA17 | Sell | May 23, 22 | Filing → |
| Ro KhannaHouse · CA17 | Buy | May 5, 22 | Filing → |
| Tom MalinowskiHouse · NJ07 | Sell | Oct 25, 19 | Filing → |
| Tom MalinowskiHouse · NJ07 | Buy | Jul 22, 19 | Filing → |
| Tom MalinowskiHouse · NJ07 | Sell | Oct 25, 19 | Filing → |
| Tom MalinowskiHouse · NJ07 | Buy | Jan 18, 19 | Filing → |
| Tom MalinowskiHouse · NJ07 | Buy | Mar 25, 20 | Filing → |
| Bill CassidySenate · LA | Sell | Dec 7, 18 | Filing → |
| Bill CassidySenate · LA | Buy | Mar 29, 17 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 13.23M | ▼ 8.95K |
| Blackrock, Inc. | 10.15M | ▲ 1.51M |
| Vanguard Portfolio Management LLC | 7.17M | ▼ 108.59K |
| State Street Corp | 6.35M | ▼ 28.49K |
| Norges Bank | 5.59M | ▲ 5.59M |
| Vanguard Capital Management LLC | 5.41M | ▲ 25.82K |
| Resolution Capital Ltd | 3.17M | ▼ 476.80K |
| Invesco Ltd. | 2.54M | ▼ 150.61K |
| Aqr Capital Management LLC | 2.53M | ▲ 403.49K |
| Geode Capital Management, LLC | 2.33M | ▲ 40.19K |
| Price T Rowe Associates Inc | 1.79M | ▲ 980.00K |
| Northern Trust Corp | 1.66M | ▲ 23.88K |
Held by 870 ETFs
Biggest fund positions in FRT by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Sep 30, 26 | Lamb-Hale Nicole | sell | 200 |
| Sep 30, 26 | Lamb-Hale Nicole | sell | 100 |
| Sep 30, 26 | Lamb-Hale Nicole | sell | 380 |
| Sep 30, 26 | Lamb-Hale Nicole | sell | 140 |
| Sep 30, 26 | Lamb-Hale Nicole | sell | 200 |
| Sep 30, 26 | Lamb-Hale Nicole | sell | 40 |
| Sep 30, 26 | Lamb-Hale Nicole | sell | 60 |
| Sep 30, 26 | Lamb-Hale Nicole | sell | 80 |
| Sep 30, 26 | Lamb-Hale Nicole | sell | 100 |
| Sep 30, 26 | Lamb-Hale Nicole | sell | 200 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our FRT coverage
Recent articles, reports, and earnings notes.
Want a deeper read on FRT?
Generate a full analyst-grade report — bull/bear case, price targets, valuation depth, and a complete financial breakdown.
Federal Realty: The Only REIT Dividend King Trades At A Discount
seekingalpha.com · Oct 4
October's Income Picks: 2 Stocks Yielding Over 4% That Have Raised Payouts for 25 Years
247wallst.com · Oct 2
Federal Realty Acquires The Summit, Alabama's Premier Retail Destination
prnewswire.com · Oct 1
Federal Realty Investment Trust Announces Third Quarter 2026 Earnings Release Date and Conference Call Information
prnewswire.com · Sep 30
Buy 5 Barron's Better Bets (Than T-Bills) Out Of 11 'Safer' September DiviDogs
seekingalpha.com · Sep 26
Federal Realty: Pricing Power In A K-Shaped Economy
seekingalpha.com · Sep 21
3 Buy-Rated REITs Collecting Rent From Warehouses, Data Centers and Shopping Centers
247wallst.com · Sep 20
The Dividend Kings Ranked By Quality Scores (September 2026)
seekingalpha.com · Sep 18
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
