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Federal Realty Investment Trust FRT

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Stock XNYS Rating as of
$102.20 +1.40 (1.39%)
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As of Cboe BZX Real-Time Price Open
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Company Report

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Low but Steady Growth Anticipated for Federal Realty's High-Quality Shopping Center Portfolio

Kevin Brown

Federal Realty is a retail-based real estate investment trust that focuses on owning and operating high-quality shopping centers and mixed-use assets in eight of the largest metropolitan areas. It has strategically acquired and developed assets in submarkets with strong demand drivers, creating a portfolio with average location population density and median household income higher than any other retail REIT. As a result, Federal Realty has been able to drive strong same-store net operating income growth and average double-digit re-leasing spreads over the past two decades. Its portfolio should continue to attract shoppers and tenants and produce solid internal growth even in a challenging retail environment.

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Price vs Fair Value

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FRT is trading within a range we consider fairly valued.
Price
$100.85
Fair Value
$166.00
Uncertainty
Medium
1-Star Price
$497.60
5-Star Price
$65.50
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Federal Realty reports peer-leading population density and annual household income in proximity to its centers, providing a strong demographic base for its tenants.

Bears

Federal’s development pipeline is focused on a few large mixed-use projects, which exposes the company to risk from any of these particular projects failing and also increases exposure to real estate segments beyond its traditional retail focus.

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Trading Information

Previous Close Price
$100.80
Day Range
$100.74–102.25
52-Week Range
$85.61–107.56
Bid/Ask
$102.14 / $102.20
Market Cap
$8.48 Bil
Volume/Avg
108,472 / 552,284

Key Statistics

Price/Earnings (Normalized)
37.79
Price/Sales
7.17
Dividend Yield (Trailing)
4.33%
Dividend Yield (Forward)
4.34%
Total Yield
4.36%

Company Profile

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 102 properties, which includes 26.0 million square feet of retail space and over 3,100 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.
Sector
Real Estate
Industry
REIT - Retail
Stock Style Box
Small Core
Total Number of Employees
322
Website
https://www.federalrealty.com

Competitors

Valuation

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Metric
FRT
O
KIM
Price/Earnings (Normalized)
 37.7937.9638.62
Price/Book Value
 3.041.171.16
Price/Sales
 7.178.756.26
Price/Cash Flow
 14.7913.1813.48
Price/Earnings
FRT
O
KIM

Financial Strength

Metric
FRT
O
KIM
Quick Ratio
 1.011.491.80
Current Ratio
 1.011.551.82
Interest Coverage
 2.401.962.47
Quick Ratio
FRT
O
KIM

Profitability

Metric
FRT
O
KIM
Return on Assets (Normalized)
 3.13%1.94%2.26%
Return on Equity (Normalized)
 9.43%3.39%4.23%
Return on Invested Capital (Normalized)
 5.04%3.39%3.48%
Return on Assets
FRT
O
KIM
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