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Federal Realty Investment Trust FRT Stock Quote

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Morningstar‘s Stock Analysis FRT

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While Re-Leasing Spreads Slow, Federal Realty Still Produces 3Q Occupancy Gains and Revenue Growth

Kevin Brown Senior Analyst

Analyst Note

| Kevin Brown |

Federal Realty reported third-quarter results that were slightly better than our estimates, leading us to reaffirm our $139 fair value estimate for the no-moat company. Same-store occupancy improved 20 basis points sequentially and 110 basis points year over year to 94.2%. Total re-leasing spreads slowed to just 2.9% in the quarter, below our estimate of 6.6% blended re-leasing spreads. Same-store revenue grew 5.5% in the third quarter. However, same-store operating expenses were up 9.5%, leading to same-store net operating income growth of 3.7%, though that was ahead of our 1.8% same-store NOI growth estimate for the quarter. As a result, Federal Realty reported third-quarter funds from operations of $1.59 per share, which beat our estimate of $1.55, and was ahead of the $1.51 figure the company reported in the third quarter of 2021.

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Key Statistics FRT

Company Profile FRT

Business Description

Federal Realty Investment Trust is a shopping center-focused retail real estate investment trust that owns high-quality properties in eight of the largest metropolitan markets. Its portfolio includes an interest in 101 properties, which includes 23.4 million square feet of retail space and over 2,600 multifamily units. Federal's retail portfolio includes grocery-anchored centers, superregional centers, power centers, and mixed-use urban centers. Federal Realty has focused on owning assets in highly desirable areas with significant growth, and as a result, the average population density and average median household income are higher for its portfolio than for any other retail REIT.

909 Rose Avenue, Suite 200
North Bethesda, MD, 20852
Industry REIT - Retail
Employees 315

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FAQs for Federal Realty Investment Trust Stock

Yes. FRT has a forward dividend yield of 4.03%. See FRT’s full dividends and stock split history on the Dividend tab.
Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price.

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FRT’s market cap is 8.75 Bil.
Market capitalization is calculated by taking a company’s share price and multiplying it by the total number of shares. It’s often used to measure a company’s size. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70–90%, and small-cap names are the remaining 10% of companies.

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FRT’s stock style is Mid Core.
Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

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FRT’s price/sales is 8.13.
Price/sales represents the amount an investor is willing to pay for a dollar generated from a particular company’s sales or revenues.

FRT’s price/forward earnings is 39.37.
Forward P/E gives some indication of how cheap or expensive a stock is compared with consensus earnings estimates. The lower the Forward P/E, the cheaper the stock.

FRT’s price/book is 3.18.
Price/book ratio can tell investors approximately how much they’re paying for a company’s assets, based on historical, rather than current, valuations. Historical valuations generally do not reflect a company’s current market value. Value investors frequently look for companies that have low price/book ratios.

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FRT’s beta can be found in Trading Information at the top of this page.
A stock’s beta measures how closely tied its price movements have been to the performance of the overall market.

Compare FRT’s historical performance against its industry peers and the overall market.