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Federal Realty Investment Trust (FRT) stock

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NYSE: FRT NYSE Retail REITs Next results ~February 11, 2027

C+ Fundamentals grade

Federal Realty Investment Trust is a US-listed company in the retail REITs industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$180

Funds-from-operations model

Base case. Range ~$150–$220. Funds from operations growing 2.5% a year, discounted at 8%.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Federal Realty Investment Trust valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 10 sales by directors and officers, last 12 monthsInsider trades
  • Funds350 adding, 211 cuttingOf 52 active managers that changed their stake, 32 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Federal Realty Investment Trust files

10-Q filed October 30: Federal Realty Investment Trust

Model value −14.2%

Revenue for the twelve months to September 2026 was $1.35bn, up 7.8% on a year earlier, about the same pace as a quarter earlier. Its fundamentals grade moves from C to C+. Our model value falls from $161 to $138 a share, against a share price of $112.

Source: 10-Q filed October 30, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Federal Realty Investment Trust stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.34bn, up 8.0% on a year earlier, faster than 7.4% a quarter earlier. Our valuation models combined value is $161 a share, against a share price of $106.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 11, 2027 (estimated)

Federal Realty Investment Trust's trailing-twelve-month revenue grew 7.8% year on year, with a free-cash-flow margin of 18.8%. Where it stands out: stock pay as % of revenue of 1.1% ranks 5 of 21 retail reits companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 6.2% while net income grew 27.1%: a 21pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 47.7% of revenue is left as operating profit, against a median of 47.7% for retail reits companies we cover.
  • Margins widening. Operating margin is up 5.4 points on a year ago.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 6.0% over 90 days.

Things to watch

  • Weak cash conversion. Free cash flow was 58% of net income over the last 12 months.
  • Earnings expected to fall. The consensus expects earnings per share to fall 22% next year.

Latest results: FY2026 Q3

Filed October 30, 2026
Earnings per share
$0.74 against an average estimate of $0.71: beat by 4.0%
Revenue
$339m, up 5.2% on a year earlier
Share reaction
-0.1% in the first session after the results on October 30, 2026, against -2.2% for the S&P 500
Guidance given
net income available for common shareholders per diluted share $4.23 to $4.27 (Full Year 2026); nareit FFO per diluted share $7.54 to $7.58 (Full Year 2026)
Next report
October 30, 2026; average EPS estimate $0.74

Federal Realty Investment Trust's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.4%
  • 1 week+1.1%
  • 1 month+4.0%
  • This year+15.2%
  • 1 year+20.9%
  • 5 years+8.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.4B
Operating margin
47.7%
Net margin
32.6%
EPS (TTM, diluted)
$5.08

Growth

Revenue growth
+7.8%
Change in growth rate
−0.3 pts
Share count change
+1.4%

Earnings

Last results
October 30, 2026
Next results (est.)
February 11, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results
  3. Guidance
  4. Agreement
  5. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Federal Realty Investment Trust valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Federal Realty Investment Trust as an equity reit, with every model that fits that kind of business. Cost of equity 7.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.66 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Funds-from-operations model Funds from operations growing 2.5% a year, discounted at 8%. ~$180 ~$150–$220 Primary model, counts double
Price-to-FFO vs peers Funds from operations per share times peers' typical (harmonic-mean) price-to-FFO. ~$3.4 ~$81–$170 Left out: out of range vs price (0.03x)
Dividend discount (growing dividend) Today's dividend growing 2.5% a year, discounted at the cost of equity. — Does not apply: pays no regular dividend
Combined value Weighted average of the models that apply: the primary model (funds-from-operations model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$180 ~$150–$220 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Federal Realty Investment Trust with equity REITs in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

70 /100

Strong moat

How hard Federal Realty Investment Trust's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 4 / 20

    Net income has been a median 3.9% of total assets over 10 years.

  • Durability 20 / 20

    Operating margin has been a median 40.6%; its worst year was 36.7%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 20.5% of revenue.

  • Discipline 12 / 20

    The diluted share count rose 12.7% over five years; stock-based pay has been a median 1.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $4.21 −11% $1.4bn +7%
Next $3.26 −23% $1.4bn +5%

Next year's EPS estimate has moved +6.0% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +4.8% on 90 days ago. In the last 30 days, 0 analysts raised Federal Realty Investment Trust's forecast and 2 cut it.

Consensus EPS forecast Federal Realty Investment Trust, last 90 days
$3.00 $3.50 $4.00 $4.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $4.02 Current fiscal year, 60 days ago: $4.18 Current fiscal year, 30 days ago: $4.22 Current fiscal year, 7 days ago: $4.22 Current fiscal year, Now: $4.21 $4.21 Next fiscal year, 90 days ago: $3.08 Next fiscal year, 60 days ago: $3.09 Next fiscal year, 30 days ago: $3.19 Next fiscal year, 7 days ago: $3.29 Next fiscal year, Now: $3.26 $3.26

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $4.02$3.08
60 days ago $4.18$3.09
30 days ago $4.22$3.19
7 days ago $4.22$3.29
Now $4.21$3.26

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.71 $0.74 +4.0%
Jun 2026 $0.72 $0.97 +35.3%
Mar 2026 $0.68 $1.81 +165.2%
Dec 2025 $0.76 $1.56 +104.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 30, 2026
  • Net income available for common shareholders per diluted share Full Year 2026 $4.23 to $4.27 Narrowed
    “Net income available for common shareholders per diluted share $4.23 - $4.27 $4.22 - $4.30” source
  • Nareit FFO per diluted share Full Year 2026 $7.54 to $7.58 Non-GAAP Raised
    “Nareit FFO per diluted share (2) $7.54 - $7.58 $7.48 - $7.56” source
  • Comparable Property POI growth Full Year 2026 3.375% growth to 3.625% growth Non-GAAP Narrowed
    “Comparable Property POI growth 3.375% - 3.625% 3.25% - 3.75%” source
  • Adjusted Comparable Property POI growth Full Year 2026 4.375% growth to 4.625% growth Non-GAAP Raised
    “Adjusted Comparable Property POI growth 4.375% - 4.625% 4.00% - 4.50%” source
  • % Core FFO growth over the prior year Full Year 2026 6.8% growth to 7.4% growth Non-GAAP Raised
    “% Core FFO growth over the prior year 6.8% - 7.4% 5.9% - 7.1%” source
  • Lease termination fees Full Year 2026 $10m to $11m Maintained
    “Lease termination fees $10 - $11 million $10 - $11 million” source
Show 4 more items
  • Incremental redevelopment/expansion POI Full Year 2026 $14.5m to $15.5m Non-GAAP Maintained
    “Incremental redevelopment/expansion POI (3) $14.5 - $15.5 million $14.5 - $15.5 million” source
  • General and administrative expenses Full Year 2026 $50.5m to $52.5m Raised
    “General and administrative expenses $50.5 - $52.5 million $49 - $51 million” source
  • Development/redevelopment capital Full Year 2026 $175m to $200m Narrowed
    “Development/redevelopment capital $175 - $200 million $175 - $225 million” source
  • Capitalized interest Full Year 2026 $11m to $12m Maintained
    “Capitalized interest $11 - $12 million $11 - $12 million” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

19 analysts, Oct 2026
Buy1368%
Hold632%
Sell00%

Monthly trend

  1. Oct 202658619
  2. Sep 202658619
  3. Aug 202659620
  4. Jul 202649720

Counts of recommendations published by analysts covering Federal Realty Investment Trust, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
0.0%
of tradable shares
Days to cover
0.02
at average volume
Short interest, 1 month
−100%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.0%
of shares
Employees
314
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +20.7%

$92.24 on October 31, 2025 to $111.37

ThenNowEffect
Revenue (last 12 months) $1.2bn $1.3bn +8.0%
Net margin 28.0% 32.7% +16.6%
P/E multiple 22.7x 22.1x −2.4%
Share count 85m 87m −1.8%

Biggest factor: net margin.

Last 3 years +32.5%

$84.07 on November 3, 2023 to $111.37

ThenNowEffect
Revenue (last 12 months) $1.1bn $1.3bn +20.6%
Net margin 35.0% 32.7% −6.7%
P/E multiple 17.7x 22.1x +24.9%
Share count 82m 87m −5.7%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
FRT+66%−23%+7%+12%−6%+15%
Industry peers (median)+46%−11%+6%+15%−3%+11%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
FRT92%33%58%50%42%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
FRT−10%−35%−24%−7%−24%−17%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 57% from August 1, 2016 to April 3, 2020. Getting back needed a 130% gain, reached on May 21, 2026, 2239 days after the low.

Price behaviour

52-week range
$91.60 – $125.77
From 52-week high
−11.4%
vs 50-day average
+1.1%
vs 200-day average
+0.2%
Volatility (1 year)
16%
Beta vs S&P 500
0.11

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 9 down
typical move ±1.6%
After a week
7 up, 4 down
typical move ±2.2%
After a month
7 up, 4 down
typical move ±4.6%
Results releasedNext dayS&P 500 next day5 days21 days
October 30, 2026 −0.1% −2.2% — —
July 31, 2026 −0.4% +2.2% −4.4% −6.5%
May 1, 2026 +3.2% −0.1% +4.3% +7.6%
February 12, 2026 −2.0% −1.5% +0.5% −0.6%
October 31, 2025 +0.9% +0.5% +2.6% +2.9%
August 6, 2025 −1.1% +0.7% +1.3% +9.9%
May 8, 2025 −1.8% +0.6% +1.6% +1.6%
February 13, 2025 −5.0% +1.1% −5.7% −11.4%
October 30, 2024 −1.8% −2.3% +0.2% +3.4%
August 1, 2024 +0.7% −3.3% +0.6% +3.0%
May 2, 2024 −2.2% +2.2% −1.7% −2.9%
February 12, 2024 −0.1% −1.4% −1.7% +1.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Federal Realty Investment Trust in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Federal Realty Investment Trust
$1.1B $1.2B $1.3B $1.4B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $1.1B Revenue (TTM), FY24 Q1: $1.2B Revenue (TTM), FY24 Q2: $1.2B Revenue (TTM), FY24 Q3: $1.2B Revenue (TTM), FY24 Q4: $1.2B Revenue (TTM), FY25 Q1: $1.2B Revenue (TTM), FY25 Q2: $1.2B Revenue (TTM), FY25 Q3: $1.3B Revenue (TTM), FY25 Q4: $1.3B Revenue (TTM), FY26 Q1: $1.3B Revenue (TTM), FY26 Q2: $1.3B Revenue (TTM), FY26 Q3: $1.4B $1.4B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $1.1B
FY24 Q1 $1.2B
FY24 Q2 $1.2B
FY24 Q3 $1.2B
FY24 Q4 $1.2B
FY25 Q1 $1.2B
FY25 Q2 $1.2B
FY25 Q3 $1.3B
FY25 Q4 $1.3B
FY26 Q1 $1.3B
FY26 Q2 $1.3B
FY26 Q3 $1.4B
Revenue growth, TTM YoY Federal Realty Investment Trust
5% 6% 7% 8% 9% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 5.4% Revenue growth, TTM YoY, FY24 Q1: 5.5% Revenue growth, TTM YoY, FY24 Q2: 5.3% Revenue growth, TTM YoY, FY24 Q3: 5.6% Revenue growth, TTM YoY, FY24 Q4: 6.2% Revenue growth, TTM YoY, FY25 Q1: 6.1% Revenue growth, TTM YoY, FY25 Q2: 6.0% Revenue growth, TTM YoY, FY25 Q3: 6.0% Revenue growth, TTM YoY, FY25 Q4: 6.4% Revenue growth, TTM YoY, FY26 Q1: 7.4% Revenue growth, TTM YoY, FY26 Q2: 8.0% Revenue growth, TTM YoY, FY26 Q3: 7.8% 7.8%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 5.4%
FY24 Q1 5.5%
FY24 Q2 5.3%
FY24 Q3 5.6%
FY24 Q4 6.2%
FY25 Q1 6.1%
FY25 Q2 6.0%
FY25 Q3 6.0%
FY25 Q4 6.4%
FY26 Q1 7.4%
FY26 Q2 8.0%
FY26 Q3 7.8%
Operating margin (TTM) Federal Realty Investment Trust
35% 40% 45% 50% 55% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 35.9% Operating margin (TTM), FY24 Q1: 35.7% Operating margin (TTM), FY24 Q2: 40.0% Operating margin (TTM), FY24 Q3: 39.9% Operating margin (TTM), FY24 Q4: 39.3% Operating margin (TTM), FY25 Q1: 39.4% Operating margin (TTM), FY25 Q2: 42.6% Operating margin (TTM), FY25 Q3: 42.3% Operating margin (TTM), FY25 Q4: 47.1% Operating margin (TTM), FY26 Q1: 53.6% Operating margin (TTM), FY26 Q2: 47.9% Operating margin (TTM), FY26 Q3: 47.7% 47.7%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 35.9%
FY24 Q1 35.7%
FY24 Q2 40.0%
FY24 Q3 39.9%
FY24 Q4 39.3%
FY25 Q1 39.4%
FY25 Q2 42.6%
FY25 Q3 42.3%
FY25 Q4 47.1%
FY26 Q1 53.6%
FY26 Q2 47.9%
FY26 Q3 47.7%
FCF margin (TTM) Federal Realty Investment Trust
17% 18% 19% 20% 21% 22% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 20.7% FCF margin (TTM), FY24 Q1: 19.8% FCF margin (TTM), FY24 Q2: 20.7% FCF margin (TTM), FY24 Q3: 19.4% FCF margin (TTM), FY24 Q4: 19.3% FCF margin (TTM), FY25 Q1: 21.8% FCF margin (TTM), FY25 Q2: 19.7% FCF margin (TTM), FY25 Q3: 19.1% FCF margin (TTM), FY25 Q4: 19.9% FCF margin (TTM), FY26 Q1: 18.9% FCF margin (TTM), FY26 Q2: 17.9% FCF margin (TTM), FY26 Q3: 18.8% 18.8%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 20.7%
FY24 Q1 19.8%
FY24 Q2 20.7%
FY24 Q3 19.4%
FY24 Q4 19.3%
FY25 Q1 21.8%
FY25 Q2 19.7%
FY25 Q3 19.1%
FY25 Q4 19.9%
FY26 Q1 18.9%
FY26 Q2 17.9%
FY26 Q3 18.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 529 542 551 606 637 686 744 802 857 915 936 835 951 1,074 1,132 1,202 1,279 1,352
EBITDA 324 348 352 396 415 442 475 515 626 606 711 545 675 829 728 815 970 1,043
Operating income 210 229 226 254 254 271 300 321 410 362 471 290 395 526 406 472 602 645
Net income 98 123 144 152 163 165 210 250 290 242 354 132 261 385 237 295 411 441
Diluted EPS $1.63 $1.98 $2.28 $2.35 $2.46 $2.41 $3.03 $3.50 $3.97 $3.18 $4.61 $1.62 $3.26 $4.71 $2.80 $3.42 $4.68 $5.08
Growth (year on year)
Revenue +1.7% +2.5% +1.7% +9.9% +5.2% +7.6% +8.4% +7.7% +7.0% +6.8% +2.2% −10.7% +13.9% +12.9% +5.4% +6.2% +6.4% +7.8%
EBITDA −1.2% +7.4% +1.2% +12.3% +4.9% +6.5% +7.5% +8.3% +21.7% −3.3% +17.3% −23.4% +23.9% +22.8% −12.1% +11.9% +19.0% +17.4%
Operating income −3.6% +9.4% −1.2% +12.1% +0.1% +6.6% +10.7% +6.9% +27.8% −11.8% +30.2% −38.5% +36.3% +33.4% −22.8% +16.2% +27.5% +21.5%
Net income −24.3% +24.9% +17.2% +5.6% +7.1% +1.1% +27.8% +18.9% +16.0% −16.6% +46.3% −62.8% +98.5% +47.4% −38.5% +24.6% +39.3% +27.1%
Diluted EPS −25.6% +21.5% +15.2% +3.1% +4.7% −2.0% +25.7% +15.5% +13.4% −19.9% +45.0% −64.9% +101.2% +44.5% −40.6% +22.1% +36.8% +25.3%
Margins
EBITDA margin 61.3% 64.2% 63.9% 65.3% 65.1% 64.4% 63.8% 64.2% 73.0% 66.2% 75.9% 65.2% 70.9% 77.1% 64.3% 67.8% 75.8% 77.1%
Operating margin 39.6% 42.3% 41.1% 41.9% 39.9% 39.5% 40.3% 40.0% 47.8% 39.5% 50.3% 34.7% 41.5% 49.0% 35.9% 39.3% 47.1% 47.7%
Net margin 18.6% 22.7% 26.1% 25.1% 25.5% 24.0% 28.3% 31.2% 33.8% 26.4% 37.8% 15.8% 27.5% 35.9% 20.9% 24.6% 32.1% 32.6%
Free-cash-flow margin 43.7% 40.2% 35.2% 40.5% 42.0% 43.7% 43.4% 46.2% 44.5% 49.2% 40.5% 44.3% 49.6% 48.1% 49.1% 47.8% 48.7% 48.2%
Cash flow
Cash from operations 257 257 245 297 314 346 369 428 459 517 462 370 471 517 556 575 622 652
Capital spending 26 39 51 51 47 46 46 58 77 66 83 0 0 0 0 0 0 0
Free cash flow 231 218 194 245 267 300 323 370 382 451 379 370 471 517 556 575 622 652
Stock-based pay 6 6 8 9 10 12 11 10 11 12 12 12 13 14 14 16 15 15
Free cash flow after stock pay 225 212 187 236 257 288 312 360 371 439 367 358 458 503 542 558 608 636
Balance sheet
Cash 135 16 68 37 89 48 21 23 15 64 127 798 162 86 251 123 107 110
Total debt 540 1,767 2,110 2,209 2,322 2,410 2,627 2,798 3,285 3,229 3,370 4,309 4,063 4,344 4,616 4,497 4,964 3,886
Net debt (negative = net cash) 404 1,751 2,043 2,172 2,233 2,362 2,606 2,775 3,270 3,165 3,243 3,510 3,901 4,259 4,365 4,373 4,856 3,777
Diluted shares 60m 61m 63m 64m 65m 67m 69m 71m 72m 73m 75m 76m 77m 81m 81m 84m 86m 87m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

Diluted share count
+1.4%
year over year

Competitors: side by side with peers

Closest by revenue in retail reits
Last 12 months unless stated FRT BRX REG MAC KIM ADC Median
Revenue, last 12 months $1.4bn $1.4bn $1.6bn $1.0bn $2.2bn $810m $516m
Revenue growth, last 12 months 7.8% 5.7% 8.2% 1.3% 3.5% 17.7% 8.5%
Revenue growth, 3-year average 6.5% 4.8% 9.0% 5.1% 7.4% 16.7% 8.2%
Revenue growth, latest quarter 5.2% 5.5% 8.6% −0.0% 1.9% 16.7% 7.1%
Operating margin 47.7% — 72.0% — 40.1% 48.9% 44.2%
Operating margin, 3-year average 43.3% — — — 35.7% 48.4% 35.7%
Net margin 32.6% 30.0% 34.4% −16.8% 34.1% 29.8% 26.8%
Cash from operations / revenue 48.2% 48.4% 53.0% 30.5% 56.3% 70.6% 48.6%
Free-cash-flow margin 18.8% 18.5% 26.7% −4.4% 56.3% 37.1% 20.3%
Free-cash-flow margin, 3-year average 19.1% 17.8% 27.3% −2.4% 38.8% 8.8% 20.1%
Stock pay / revenue 1.1% 1.1% 1.2% 2.2% 1.6% 1.8% 1.7%
Change in share count 1.4% 0.2% 1.0% 8.5% −0.6% 10.7% 2.6%

Median of all 24 companies we cover in retail reits. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

24 retail reits companies
Measure Company Peer median Rank
Revenue growth Growth 7.8% 8.7% 14 of 24
Change in growth rate Growth -0.3pp -0.3pp 12 of 24
Operating margin Profitability 47.7% 47.7% 8 of 16
Net margin Profitability 32.6% 29.8% 10 of 24
Stock pay as % of revenue Cash generation 1.1% 1.8% 5 of 21
Long-term debt as % of assets Balance sheet 54.4% 46.6% 14 of 20
Change in share count Balance sheet 1.4% 4.1% 10 of 22

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$10.6B
Institutions reporting
616
Shares held vs prior quarter
▲ 8.9%
Positions opened / closed
107 / 48

Top buyers and sellers, Q2 2026: 350 institutions bought and 211 sold ; the biggest buyer was Blackrock, Inc (+1.5M shares) and the biggest seller PGGM Investments (−736K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.3B 10.2M 11.9% ▲ 17.5%
Vanguard Portfolio Management LLC $886M 7.2M 8.4% ▼ 1.5%
State Street Corp $784M 6.4M 7.4% ▼ 0.4%
Norges Bank $691M 5.6M 6.5% —
Vanguard Capital Management LLC $667M 5.4M 6.3% ▲ 0.5%
Resolution Capital Ltd $391M 3.2M 3.7% ▼ 13.1%
Invesco Ltd. $313M 2.5M 3.0% ▼ 5.6%
AQR Capital Management LLC $312M 2.5M 3.0% ▲ 19.0%
Geode Capital Management, LLC $287M 2.3M 2.7% ▲ 1.8%
Price T Rowe Associates Inc $221M 1.8M 2.1% ▲ 120.7%
Northern Trust Corp $205M 1.7M 1.9% ▲ 1.5%
Jpmorgan Chase & Co $191M 1.5M 1.8% ▲ 45.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Federal Realty Investment Trust's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $163,342 10 trades by 1 insider · 0% under pre-set plans
Net ▼ $163,342 net selling
Insider Date Trade Shares Price Value
Lamb-Hale Nicole Director September 30, 2026 Sell 200 $108.96 $21,792
Lamb-Hale Nicole Director September 30, 2026 Sell 100 $108.95 $10,896
Lamb-Hale Nicole Director September 30, 2026 Sell 80 $108.93 $8,714
Lamb-Hale Nicole Director September 30, 2026 Sell 60 $108.92 $6,535
Lamb-Hale Nicole Director September 30, 2026 Sell 40 $108.91 $4,356
Lamb-Hale Nicole Director September 30, 2026 Sell 200 $108.89 $21,778
Lamb-Hale Nicole Director September 30, 2026 Sell 140 $108.88 $15,243
Lamb-Hale Nicole Director September 30, 2026 Sell 380 $108.87 $41,371
Lamb-Hale Nicole Director September 30, 2026 Sell 100 $108.86 $10,886
Lamb-Hale Nicole Director September 30, 2026 Sell 200 $108.85 $21,770

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 6 trades and filings

No trades in Federal Realty Investment Trust disclosed in the last 12 months; 6 earlier trades on record.

  • Tom Malinowski(D-NJ 7):Purchase, $15,001 - $50,000, traded March 25, 2020, filed March 5, 2021
  • Tom Malinowski(D-NJ 7):Sale (full), $1,001 - $15,000, traded October 25, 2019, filed July 9, 2021
  • Tom Malinowski(D-NJ 7):Sale (full), $15,001 - $50,000, traded October 25, 2019, filed July 9, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 11, 2027 estimated from the company's past filing pattern, not announced

  • October 30, 2026
  • July 31, 2026
  • May 1, 2026
  • February 12, 2026
  • October 31, 2025
  • August 6, 2025

Recent SEC filings

Data status

When each part of this page on Federal Realty Investment Trust was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Federal Realty Investment Trust in brief

What does Federal Realty Investment Trust do?
Federal Realty Investment Trust is a US-listed company in the retail REITs industry. Its financial year ends in December.
What is Federal Realty Investment Trust's stock ticker?
Federal Realty Investment Trust trades under the ticker FRT on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Federal Realty Investment Trust's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Federal Realty Investment Trust reported revenue of $1.4B, 7.8% higher than a year earlier, according to its SEC filings.
What is Federal Realty Investment Trust's free cash flow?
Federal Realty Investment Trust's free-cash-flow margin is 18.8% of revenue over the trailing twelve months.
Who are Federal Realty Investment Trust's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Federal Realty Investment Trust's market cap?
On November 2, 2026, Federal Realty Investment Trust's market capitalisation was about $9.7B, with a price-to-earnings ratio of 21.9 and net debt of $3.8B. Market figures come from third-party market data and may be delayed.
Who are Federal Realty Investment Trust's competitors?
In our Retail REITs peer group, the companies closest to Federal Realty Investment Trust are Brixmor Property Group Inc., Regency Centers, Macerich Co, Kimco Realty and Agree Realty Corp. The side-by-side comparison below sets their revenue, margins and growth against Federal Realty Investment Trust's.
Are insiders buying or selling Federal Realty Investment Trust stock?
Over the last 12 months, Federal Realty Investment Trust's directors and officers reported 0 open-market purchases and 10 sales on Form 4. The insider trading page charts every trade.
When is Federal Realty Investment Trust's next earnings date?
Around February 11, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Federal Realty Investment Trust announces its own schedule.