Stocks · Real Estate · REIT - Retail
Federal Realty Investment Trust FRT
$106.69 -1.24% Close, Oct 2, 2026 · NYSE · Market cap $9.22B
High qualityLow risk
Next earnings report: Oct 30, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Operating margin narrowed to 34.5% from 42.6% a year earlier.
- Net debt is 4.8× EBITDA, a high level of leverage.
- The shares trade at 21.3× trailing earnings, lower than 86% of the company's own readings over the past five years.
PromtFinance scores
Each score is a percentile within the Real Estate sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
Growth78Positive
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 44%
- EPS growth (TTM, YoY)Top 37%
- FCF growth (TTM, YoY)Top 15%
- Revenue growth, 3-year CAGRTop 45%
- Revenue growth accelerationTop 46%
Quality82Strong
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 39%
- Gross marginTop 42%
- Operating marginTop 35%
- Cash conversion (OCF / net income)Top 46%
- Accruals (lower is better)Top 36%
- Net debt / EBITDA (lower is better)Top 35%
- Interest coverTop 26%
Value68Positive
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldTop 34%
- Free-cash-flow yieldTop 44%
- EBITDA / enterprise valueTop 36%
- Sales / enterprise valueBottom 38%
- P/E vs own 5-year history (lower is better)Top 30%
Momentum70Positive
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 20%
- 6-month returnTop 45%
- 1-year return vs S&P 500Top 25%
- Distance from 52-week highTop 36%
- Trend checklist (0–4)Top 41%
Revisions87Strong
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 18%
- Consecutive EPS beatsTop 19%
- Share of analysts rating BuyTop 41%
- Upside to consensus price targetTop 50%
Stability80Strong
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 4%
- Maximum drawdown, 3 yearsTop 30%
- Beta vs S&P 500 (lower is better)Top 46%
- Net debt / EBITDA (lower is better)Top 35%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 7.5% | 8.1% | ↑ |
| EPS growth (YoY) | 67.0% | 27.4% | ↓ |
| Gross margin | 67.3% | 54.0% | ↓ |
| Operating margin | 42.6% | 34.5% | ↓ |
| FCF margin | 28.0% | 42.1% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 8.1% | 7.5% | ↑ | Top 44% |
| EPS growth (TTM, YoY) | 27.4% | 67.0% | ↓ | Top 37% |
| Gross margin | 54.0% | 67.3% | ↓ | Top 42% |
| Operating margin | 34.5% | 42.6% | ↓ | Top 35% |
| Net margin | 32.7% | 28.0% | ↑ | — |
| Free-cash-flow margin | 42.1% | 28.0% | ↑ | — |
| Return on invested capital | 5.1% | — | Top 39% | |
| Revenue growth, 3-year CAGR | 6.0% | — | Top 45% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 1.87×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -4.2%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 1.1%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +3.4 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 4.80×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 2.4×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 5.35%
- Net buyback yield (TTM)
- -0.11%
- Shareholder yield
- 5.23%
- Share count change, 1 year
- -0.5%
- Share count change, 3-year CAGR
- +2.0%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 31, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 3
- Beats in the last 8 reports
- 5 of 8
- Average EPS surprise, last 4
- +72.5%
- Average 2-day reaction, last 8
- +0.7%
- Positive 20 days after report
- 4 of 8
Analysts
- Consensus price target
- $129.64
- Target vs current price
- +21.5%
- Analysts with a rating
- 33
- Share rating Buy or Strong Buy
- 52%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 31, 2026 | +35.1% | +0.0% | -5.0% | -5.8% | — |
| May 1, 2026 | +162.2% | +4.0% | +4.3% | +7.9% | +13.7% |
| Feb 12, 2026 | +104.9% | -2.1% | -1.0% | -1.5% | +8.2% |
| Oct 31, 2025 | -12.2% | +1.4% | +1.1% | +4.1% | +5.2% |
| Aug 6, 2025 | +107.9% | -0.2% | -0.6% | +7.2% | +2.2% |
| May 8, 2025 | -3.2% | +0.0% | +0.0% | -0.8% | -3.9% |
| Feb 13, 2025 | +3.3% | +1.1% | -5.4% | -14.3% | -15.4% |
| Oct 30, 2024 | -1.3% | +1.2% | +0.8% | +2.7% | -3.7% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 31, 2026 | $0.97 | $0.72 | +35.1% | $325.9M |
| May 1, 2026 | $1.82 | $0.69 | +162.2% | $332.7M |
| Feb 12, 2026 | $1.51 | $0.74 | +104.9% | $327.5M |
| Oct 31, 2025 | $0.69 | $0.79 | -12.2% | $313.2M |
| Aug 6, 2025 | $1.78 | $0.86 | +107.9% | $302.5M |
| May 8, 2025 | $0.72 | $0.74 | -3.2% | $302.3M |
| Feb 13, 2025 | $0.75 | $0.73 | +3.3% | $303.9M |
| Oct 30, 2024 | $0.70 | $0.71 | -1.3% | $303.4M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 21.3× | 27.4× | 14th | Top 34% |
| P/E (forward) | 25.1× | — | — | — |
| EV / EBITDA | 13.7× | — | — | Top 36% |
| EV / Sales | 10.61× | — | — | Bottom 38% |
| Free-cash-flow yield | 6.10% | — | — | Top 44% |
| Earnings yield | 4.71% | — | — | Top 34% |
P/E over the past five years
Range 18.3× – 57.8× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +7.1%
- Earnings per share growth (TTM)
- +27.4%
- Change in P/E multiple
- +4.5%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -3.8%
- 200-day average slope (20 days)
- +1.3%
- Distance from 50-day average
- -8.4%
- Distance from 200-day average
- -5.1%
- RSI (14)
- 18.4
- Relative volume
- 1.13×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 13.2%
- Volatility vs own 5-year history
- 0th percentile · Low for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.56
- Correlation with S&P 500
- 0.42
- Current drawdown from 1-year high
- -16.1%
- Maximum drawdown, 3 years
- -28.9%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Jan 4, 2022 | Apr 8, 2025 | -40.0% | 817 days | Not yet recovered |
| Oct 8, 2020 | Oct 28, 2020 | -14.8% | 14 days | 8 days (Nov 9, 2020) |
| Nov 10, 2020 | Jan 4, 2021 | -12.6% | 36 days | 26 days (Feb 10, 2021) |
| Mar 12, 2021 | Mar 23, 2021 | -10.6% | 7 days | 24 days (Apr 27, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $9.22B
- P/E (TTM)
- 21.3
- EPS, diluted (TTM)
- $5.02
- Revenue (TTM)
- $1.34B
- Dividend yield
- 4.26%
- 52-week range
- $90.03 – $128.21
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $951.2M | $1.07B | $1.13B | $1.20B | $1.28B |
| Gross profit | $634.6M | $717.6M | $769.1M | $810.7M | $124.4M |
| Operating income | $394.7M | $526.4M | $406.5M | $472.4M | $459.5M |
| Net income | $261.5M | $385.5M | $237.0M | $295.2M | $411.1M |
| EPS (diluted) | $3.26 | $4.71 | $2.80 | $3.42 | $4.79 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $303.6M | $311.4M | $309.2M | $311.5M | $322.9M | $336.0M | $341.1M | $335.7M |
| Net income | $61.0M | $65.5M | $63.8M | $155.9M | $61.6M | $129.7M | $159.1M | $85.7M |
| EPS (diluted) | $0.70 | $0.74 | $0.72 | $1.78 | $0.69 | $1.51 | $1.83 | $0.99 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $471.4M | $516.8M | $555.8M | $574.6M | $622.4M |
| Capital expenditure | -$440.5M | -$416.7M | -$311.1M | -$246.8M | -$291.3M |
| Free cash flow | $30.8M | $100.1M | $244.7M | $327.8M | $331.0M |
| Dividends paid | -$335.7M | -$347.3M | -$359.2M | -$371.6M | -$388.1M |
| Net share buybacks | $170.0M | $302.4M | $126.9M | $297.3M | $49.6M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- -$107.2M
- Total assets
- $9.06B
- Total liabilities
- $5.44B
- Total debt
- $4.85B
- Net debt
- $4.96B
- Shareholders’ equity
- $3.36B
As of Jun 30, 2026 (filed Jul 31, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Oct 1, 2026 | $1.16 | Oct 15, 2026 |
| Jul 1, 2026 | $1.13 | Jul 15, 2026 |
| Apr 1, 2026 | $1.13 | Apr 15, 2026 |
| Jan 2, 2026 | $1.13 | Jan 15, 2026 |
| Oct 1, 2025 | $1.13 | Oct 15, 2025 |
| Jul 1, 2025 | $1.10 | Jul 15, 2025 |
| Apr 1, 2025 | $1.10 | Apr 15, 2025 |
| Jan 2, 2025 | $1.10 | Jan 15, 2025 |
Short interest
- Shares sold short
- 3,684,708
- Days to cover
- 5.14
- Change vs previous report
- -1.5%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Nov 6, 1985
- 3-for-2
- Sep 1, 1982
- 2-for-1