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 103 properties, which includes 28.8 million square feet of retail space and 2,500 multifamily units.
It is a $9.22B real estate company. Revenue grew 7.8% over the last year, it keeps 32¢ of every dollar of sales as profit, and its net debt equals ~7.8 years of free cash flow. It trades at 21.3× earnings — near the lowest of its own history.
- Website
- federalrealty.com
- Location
- North Bethesda, MD
- Employees
- 320
- Sector
- Real Estate
- Founded
- 1962
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation; Health lags behind.
Valuation77
- P/E vs own history1th pct · 25/25
- FCF yield6.8% · 20/25
- P/S7.0x · 12/25
- EV/EBITDA13.5x · 20/25
Growth57
- Revenue CAGR7.7% · 12/25
- Net income CAGR12.3% · 20/25
- EPS CAGR ~5Y21.8% · 25/25
- Fwd implied growth-31.8% · 0/25
Profitability67
- ROIC4.8% · 5/25
- ROE13.3% · 12/25
- Net margin32.3% · 25/25
- Operating margin47.9% · 25/25
Health31
- Altman Z0.07 · 3/25
- Current ratio1.66 · 18/25
- Interest coverage3.4x · 10/25
- Net cash / debtD/A 54% · 0/25
Quality60
- Piotroski F5/9 · 15/25
- Beneish M-2.53 · 25/25
- FCF conversionn/a · 0/25
- Margin stabilityσ 6.3% · 20/25
Moat63
- ROIC >12% years4/6 yrs · 13/25
- Median gross marginn/a · 0/25
- FCF-positive years4/4 yrs · 25/25
- Worst-year net marginworst 15.8% · 25/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$402M net income
- FY2022FinancialRevenue crossed $1B$1.08B for the year
- 2021AcquisitionThe company acquired a 60% ownership stake in Grossmont Center in La Mesa, California worth $175 million
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2015AcquisitionThe company acquired an 85% interest in The Shops at Sunset Place based on a property valuation of $110.2…
- 1999MilestoneThe company was reorganized as a real estate investment trust in Maryland
- 1962FoundedThe company was founded by Samuel J
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (67.5%)
- Strongly profitable — 32.3% net margin
- Strong cash conversion — FCF is 47.2% of revenue
Watch-outs
- Altman Z-Score 0.07 — elevated financial-distress risk
- Net debt equals ~7.8 years of free cash flow
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+7.8% YoY
- Profitable — makes more than it spends$432M TTM
- Profit growing — earnings are higher than last year-0.2% YoY
- Generates cash — cash left after running and investing$631M TTM
- Debt under control — could handle its obligations~7.8y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$9.22B market cap
- Not printing shares — share count not ballooning — you keep your slice+13.7% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 0.1 — distress
- Pays a dividend — returns cash to shareholdersyield 4.24%
- Valuation not extreme — price not wildly above earningsP/E 21.3
Peer comparisonFederal Realty Investment Trust vs 6 largest real estate peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| FRT this company | $9.2B | 21.3 | +7.8% | 32.3% | Strained |
| WELL Welltower Inc. | $162.5B | 108.1 | +37.6% | 12.1% | Strained |
| PLD Prologis, Inc. | $123.1B | 29.8 | +7.3% | 45.8% | Strained |
| EQIX Equinix, Inc. | $101.2B | 66.0 | +9.6% | 15.6% | Strained |
| AMT American Tower Corporation | $84.5B | 25.0 | +14.2% | 31.1% | Strained |
| DLR Digital Realty Trust, Inc. | $66.6B | 83.0 | +17.4% | 11.8% | Strained |
| SPG Simon Property Group, Inc. | $64.7B | 14.0 | +15.0% | 66.5% | Strained |
Head-to-head: FRT vs WELL · FRT vs PLD · FRT vs EQIX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/FRT
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of FRT on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $106.16 · market cap $9.22B.