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FRT logoFederal Realty Investment Trust(FRT)Earnings, Financials & Key Ratios

FRT•NYSE•REIT / Real Estate
$116.77
$10.09B mkt cap·24.4× P/E·Price updated May 6, 2026
SectorReal EstateIndustryRetail REITsSub-IndustryUrban High-Street and Mixed-Use Retail
AboutFederal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty's mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 106 properties include approximately 3,100 tenants, in 25 million square feet, and approximately 3,200 residential units. Federal Realty has increased its quarterly dividends to its shareholders for 54 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.federalrealty.com.Show more
  • Revenue$1.28B+6.3%
  • FFO$779M+22.1%
  • FFO/Share9.07+18.9%
  • FFO Payout49.82%-14.5%
  • FFO per Share9.07+18.9%
  • NOI Margin9.73%-85.6%
  • FFO Margin60.91%+14.8%
  • ROE11.87%+33.7%
  • ROA4.66%+33.8%
  • Debt/Assets55.07%+2.9%
  • Net Debt/EBITDA5.95+9.2%
  • Book Value/Share40.78-0.5%
Analysis→Technical→

FRT Key Insights

Federal Realty Investment Trust (FRT) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 25.6%
  • ✓FFO growing 22.1% TTM
  • ✓Sustainable FFO payout ratio of 49.8%
  • ✓Healthy dividend yield of 3.9%
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Low NOI margin of 9.7%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

FRT Price & Volume

Federal Realty Investment Trust (FRT) stock price & volume — 10-year historical chart

Loading chart...

FRT Growth Metrics

Federal Realty Investment Trust (FRT) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years5.57%
5 Years8.89%
3 Years5.98%
TTM6.41%

Profit CAGR

10 Years6.94%
5 Years25.56%
3 Years2.17%
TTM39.25%

EPS CAGR

10 Years4.69%
5 Years24.21%
3 Years0.56%
TTM37.43%

Return on Capital

10 Years6.03%
5 Years5.72%
3 Years5.42%
Last Year5.41%

FRT Recent Earnings

Federal Realty Investment Trust (FRT) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
May 1, 2026
EPS
$1.82
Est $0.73
+149.3%
Revenue
$333M
Est $332M
+0.2%
Q1 2026
Feb 12, 2026
EPS
$1.84
Est $0.74
+149.3%
Revenue
$328M
Est $329M
-0.3%
Q4 2025
Oct 31, 2025
EPS
$1.77
Est $1.76
+0.6%
Revenue
$323M
Est $328M
-1.5%
Q3 2025
Aug 6, 2025
EPS
$1.91
Est $1.73
+10.4%
Revenue
$312M
Est $315M
-1.1%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 1, 2026
$1.82vs $0.73+149.3%
$333Mvs $332M+0.2%
Q1 2026Feb 12, 2026
$1.84vs $0.74+149.3%
$328Mvs $329M-0.3%
Q4 2025Oct 31, 2025
$1.77vs $1.76+0.6%
$323Mvs $328M-1.5%
Q3 2025Aug 6, 2025
$1.91vs $1.73+10.4%
$312Mvs $315M-1.1%
Based on last 12 quarters of dataView full earnings history →

FRT Peer Comparison

Federal Realty Investment Trust (FRT) competitors in Urban High-Street and Mixed-Use Retail — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
REG logoREGRegency Centers CorporationDirect Competitor14.48B79.0828.043.39%37.4%9%0.83
KIM logoKIMKimco Realty CorporationDirect Competitor16.05B23.8028.675.06%28.51%5.81%0.82
AKR logoAKRAcadia Realty TrustDirect Competitor2.9B22.16233.2614.2%37.72%5.8%0.73
SPG logoSPGSimon Property Group, Inc.Product Competitor66.84B205.5114.536.72%72.51%68.82%4.47
MAC logoMACThe Macerich CompanyProduct Competitor5.78B22.23-28.8710.58%-19.42%-7.5%2.06
BRX logoBRXBrixmor Property Group Inc.Product Competitor9.29B30.2924.236.73%31.99%14.85%1.95
SITC logoSITCSITE Centers Corp.Product Competitor294.84M5.621.66-62.67%72.14%12.2%
SKT logoSKTTanger Inc.Product Competitor4.22B36.8536.8510.55%19.74%16.46%2.30

Compare FRT vs Peers

Federal Realty Investment Trust (FRT) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs REG

Most directly comparable listed peer for FRT.

Scale Benchmark

vs COST

Larger-name benchmark to compare FRT against a more recognizable public peer.

Peer Set

Compare Top 5

vs REG, KIM, AKR, SPG

FRT Income Statement

Federal Realty Investment Trust (FRT) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Revenue857.35M915.44M935.79M835.49M951.22M1.07B1.13B1.2B1.28B
Revenue Growth %6.96%6.78%2.22%-10.72%13.85%12.95%5.38%6.21%6.35%
Property Operating Expenses272.73M287.87M298.76M290.16M316.62M356.78M363.1M391.8M1.15B
Net Operating Income (NOI)
584.62M▲ 0%
627.57M▲ 7.3%
637.03M▲ 1.5%
545.33M▼ 14.4%
634.61M▲ 16.4%
717.6M▲ 13.1%
769.06M▲ 7.2%
810.65M▲ 5.4%
124.41M▼ 84.7%
NOI Margin %68.19%68.55%68.07%65.27%66.71%66.79%67.93%67.42%9.73%
Operating Expenses174.41M265.93M166.12M255.81M239.88M191.19M362.59M338.3M-335.11M
G&A Expenses36.28M33.6M42.75M41.68M49.86M52.64M50.71M49.74M46.91M
EBITDA626.26M605.88M710.67M544.55M674.7M828.82M728.23M814.95M827.36M
EBITDA Margin %73.05%66.18%75.94%65.18%70.93%77.14%64.32%67.77%64.7%
Depreciation & Amortization216.05M244.25M239.76M255.03M279.98M302.41M321.76M342.6M367.84M
D&A / Revenue %25.2%26.68%25.62%30.52%29.43%28.15%28.42%28.49%28.76%
Operating Income
410.21M▲ 0%
361.64M▼ 11.8%
470.91M▲ 30.2%
289.52M▼ 38.5%
394.73M▲ 36.3%
526.41M▲ 33.4%
406.47M▼ 22.8%
472.36M▲ 16.2%
459.51M▼ 2.7%
Operating Margin %47.85%39.5%50.32%34.65%41.5%49%35.9%39.28%35.93%
Interest Expense100.13M110.15M109.62M136.29M127.7M136.99M167.81M175.48M181.11M
Interest Coverage3.97x3.26x4.29x2.00x3.11x3.89x2.47x2.73x3.34x
Non-Operating Income12.21M2.46M746K17.35M-2.05M-6.24M-8.56M-7.45M-145.25M
Pretax Income
297.87M▲ 0%
249.03M▼ 16.4%
360.54M▲ 44.8%
135.89M▼ 62.3%
269.08M▲ 98.0%
395.66M▲ 47.0%
247.22M▼ 37.5%
304.33M▲ 23.1%
423.65M▲ 39.2%
Pretax Margin %34.74%27.2%38.53%16.26%28.29%36.83%21.84%25.31%33.13%
Income Tax000000000
Effective Tax Rate %0%0%0%0%0%0%0%0%0%
Net Income
289.91M▲ 0%
241.91M▼ 16.6%
353.87M▲ 46.3%
131.71M▼ 62.8%
261.5M▲ 98.5%
385.49M▲ 47.4%
236.99M▼ 38.5%
295.21M▲ 24.6%
411.08M▲ 39.2%
Net Margin %33.82%26.43%37.81%15.76%27.49%35.88%20.93%24.55%32.15%
Net Income Growth %16.01%-16.56%46.28%-62.78%98.55%47.42%-38.52%24.57%39.25%
Funds From Operations (FFO)
505.96M▲ 0%
486.15M▼ 3.9%
593.62M▲ 22.1%
386.73M▼ 34.9%
541.47M▲ 40.0%
687.9M▲ 27.0%
558.75M▼ 18.8%
637.81M▲ 14.1%
778.92M▲ 22.1%
FFO Margin %59.01%53.11%63.44%46.29%56.92%64.03%49.35%53.04%60.91%
FFO Growth %14.09%-3.92%22.11%-34.85%40.01%27.04%-18.77%14.15%22.12%
FFO per Share7.006.637.945.127.008.546.877.639.07
FFO Payout Ratio %55.93%61.95%52.84%83.93%61.99%50.48%64.29%58.26%49.82%
EPS (Diluted)
3.97▲ 0%
3.18▼ 19.9%
4.61▲ 45.0%
1.62▼ 64.9%
3.26▲ 101.2%
4.71▲ 44.5%
2.80▼ 40.6%
3.42▲ 22.1%
4.79▲ 40.1%
EPS Growth %13.43%-19.9%44.97%-64.86%101.23%44.48%-40.55%22.14%40.06%
EPS (Basic)3.973.184.611.623.264.712.803.424.79
Diluted Shares Outstanding72.23M73.3M74.77M75.52M77.37M80.51M81.31M83.57M85.85M

FRT Balance Sheet

Federal Realty Investment Trust (FRT) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Assets6.28B6.29B6.79B7.61B7.62B8.23B8.44B8.52B9.13B
Asset Growth %15.72%0.22%8.03%11.96%0.19%8.02%2.46%1.05%7.11%
Real Estate & Other Assets6B6.03B6.31B6.44B7.13B7.66B7.85B8.03B-48.18M
PP&E (Net)00146.18M143.36M140.57M140.04M93.84M92.44M89.53M
Investment Securities1000K1000K1000K1000K1000K1000K1000K1000K1000K
Total Current Assets255.49M236.75M310.43M998M340.68M292.66M461.75M361.63M357.17M
Cash & Equivalents15.19M64.09M127.43M798.33M162.13M85.56M250.82M123.41M107.42M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets-237.8M-265.7M-227.06M-218.95M-237.07M000-9.09M
Intangible Assets00000008.13M16.3M
Total Liabilities3.74B3.69B4.02B4.92B4.75B5.02B5.21B5.1B5.63B
Total Debt3.33B3.23B3.5B4.44B4.19B4.47B4.69B4.56B5.03B
Net Debt3.31B3.17B3.37B3.64B4.03B4.39B4.44B4.44B4.92B
Long-Term Debt3.21B3.16B3.36B4.29B4.05B4.33B4.6B4.47B4.94B
Short-Term Borrowings41M00000000
Capital Lease Obligations71.56M71.52M145.69M144.49M144.69M145.4M88.54M87.62M85.21M
Total Current Liabilities288.93M274M358.88M332.87M347.04M309.11M297.83M311.25M351.02M
Accounts Payable196.33M177.92M255.5M228.64M235.17M190.34M174.71M183.56M219.68M
Deferred Revenue169.39M182.9M157.94M152.42M00000
Other Liabilities0000206.19M237.7M225.44M227.83M250.49M
Total Equity
2.53B▲ 0%
2.6B▲ 2.8%
2.78B▲ 6.6%
2.69B▼ 3.2%
2.88B▲ 7.1%
3.21B▲ 11.7%
3.23B▲ 0.4%
3.42B▲ 6.2%
3.5B▲ 2.2%
Equity Growth %14.11%2.8%6.62%-3.22%7.09%11.66%0.41%6.17%2.23%
Shareholders Equity2.27B2.35B2.54B2.46B2.58B2.95B2.96B3.17B3.25B
Minority Interest265.96M257.65M240.55M222.31M296.25M258.37M262.01M252.84M251.91M
Common Stock733K745K759K771K790K818K833K862K869K
Additional Paid-in Capital2.86B3B3.17B3.3B3.49B3.82B3.96B4.25B4.31B
Retained Earnings-749.37M-818.88M-791.12M-988.27M-1.07B-1.03B-1.16B-1.24B-1.22B
Preferred Stock160M160M160M160M160M159.82M159.82M159.82M159.82M
Return on Assets (ROA)4.96%3.85%5.41%1.83%3.43%4.86%2.84%3.48%4.66%
Return on Equity (ROE)12.2%9.42%13.16%4.82%9.4%12.66%7.36%8.88%11.87%
Debt / Assets52.99%51.34%51.54%58.31%55%54.35%55.56%53.51%55.07%
Debt / Equity1.31x1.24x1.26x1.65x1.46x1.39x1.45x1.33x1.44x
Net Debt / EBITDA5.29x5.22x4.75x6.68x5.97x5.30x6.09x5.45x5.95x
Book Value per Share35.0635.5237.1335.5837.1839.9039.6740.9840.78

FRT Cash Flow Statement

Federal Realty Investment Trust (FRT) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations458.83M516.69M461.92M369.93M471.35M516.77M555.83M574.56M622.38M
Operating CF Growth %7.29%12.61%-10.6%-19.91%27.42%9.64%7.56%3.37%8.32%
Operating CF / Revenue %53.52%56.44%49.36%44.28%49.55%48.1%49.09%47.78%48.67%
Net Income297.87M249.03M360.54M135.89M269.08M395.66M247.22M304.33M411.08M
Depreciation & Amortization216.05M244.25M239.76M255.03M279.98M302.41M321.76M342.6M367.84M
Stock-Based Compensation000013.01M13.7M14.31M16.36M14.61M
Other Non-Cash Items-67.91M7.98M-114.21M-15.52M-103.81M-192.16M-30.29M-86.19M-171.71M
Working Capital Changes12.81M15.43M-24.17M-5.47M13.1M-2.84M2.83M-2.54M564K
Cash from Investing-837.92M-192.25M-316.53M-368.38M-660.12M-786M-358.32M-446.83M-743.07M
Acquisitions (Net)-696K36.96M-1.05M-3.35M-3.12M-27.35M000
Purchase of Investments000000000
Sale of Investments000000000
Other Investing-318.29M139.05M94.43M136.9M-216.49M-341.95M-47.2M-200.07M-743.07M
Cash from Financing369.44M-241.31M-100.11M661.74M-452.97M190.41M-33.85M-252.3M102.95M
Dividends Paid-283M-301.19M-313.65M-324.6M-335.66M-347.28M-359.19M-371.59M-388.06M
Common Dividends-283M-301.19M-313.65M-324.6M-335.66M-347.28M-359.19M-371.59M-388.06M
Debt Issuance (Net)1000K-1000K1000K1000K-1000K1000K1000K-1000K1000K
Share Repurchases-4.23M-958K-4.63M-4.05M-3M-4.9M-5.02M-6.71M-4.91M
Other Financing-1.78M-12.46M-23.74M-21.2M-9.65M-43.8M-12.99M-45.16M-18.54M
Net Change in Cash
-9.65M▲ 0%
83.13M▲ 961.6%
45.28M▼ 45.5%
663.28M▲ 1364.8%
-641.73M▼ 196.8%
-78.81M▲ 87.7%
163.66M▲ 307.6%
-124.56M▼ 176.1%
-17.74M▲ 85.8%
Exchange Rate Effect000000000
Cash at Beginning34.85M25.2M108.33M153.61M816.9M175.16M96.35M260M135.44M
Cash at End25.2M108.33M153.61M816.9M175.16M96.35M260M135.44M117.71M
Free Cash Flow
-59.76M▲ 0%
148.43M▲ 348.4%
52.01M▼ 65.0%
-132.01M▼ 353.8%
30.84M▲ 123.4%
100.07M▲ 224.5%
244.71M▲ 144.5%
327.8M▲ 34.0%
331.04M▲ 1.0%
FCF Growth %-231.52%348.38%-64.96%-353.82%123.36%224.5%144.54%33.96%0.99%
FCF / Revenue %-6.97%16.21%5.56%-15.8%3.24%9.31%21.61%27.26%25.89%

FRT Key Ratios

Federal Realty Investment Trust (FRT) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
FFO per Share6.2476.637.945.1278.546.877.639.07
FFO Payout Ratio60.36%55.93%61.95%52.84%83.93%61.99%50.48%64.29%58.26%49.82%
NOI Margin68.36%68.19%68.55%68.07%65.27%66.71%66.79%67.93%67.42%9.73%
Net Debt / EBITDA5.39x5.29x5.22x4.75x6.68x5.97x5.30x6.09x5.45x5.95x
Debt / Assets51.6%52.99%51.34%51.54%58.31%55%54.35%55.56%53.51%55.07%
Interest Coverage3.38x3.97x3.26x4.29x2.00x3.11x3.89x2.47x2.73x3.34x
Book Value / Share31.2435.0635.5237.1335.5837.1839.939.6740.9840.78
Revenue Growth7.74%6.96%6.78%2.22%-10.72%13.85%12.95%5.38%6.21%6.35%

FRT SEC Filings & Documents

Federal Realty Investment Trust (FRT) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 15, 2026·SEC

Material company update

Feb 12, 2026·SEC

Material company update

Nov 20, 2025·SEC

10-K Annual Reports

4
FY 2026

Feb 12, 2026·SEC

FY 2025

Feb 13, 2025·SEC

FY 2024

Feb 12, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Oct 31, 2025·SEC

FY 2025

Aug 6, 2025·SEC

FY 2025

May 8, 2025·SEC

FRT Frequently Asked Questions

Federal Realty Investment Trust (FRT) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Federal Realty Investment Trust (FRT) reported $1.28B in revenue for fiscal year 2025. This represents a 615% increase from $179.1M in 1996.

Federal Realty Investment Trust (FRT) grew revenue by 6.3% over the past year. This is steady growth.

Yes, Federal Realty Investment Trust (FRT) is profitable, generating $411.1M in net income for fiscal year 2025 (32.1% net margin).

Dividend & Returns

Yes, Federal Realty Investment Trust (FRT) pays a dividend with a yield of 3.87%. This makes it attractive for income-focused investors.

Federal Realty Investment Trust (FRT) has a return on equity (ROE) of 11.9%. This is reasonable for most industries.

Industry Metrics

Federal Realty Investment Trust (FRT) generated Funds From Operations (FFO) of $778.9M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Federal Realty Investment Trust (FRT) offers a 3.87% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

Explore More FRT

Federal Realty Investment Trust (FRT) financial analysis — history, returns, DCA and operating performance tools

Full FRT Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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