The firm maintains a disciplined capital structure with a 1.38 debt-to-equity ratio, supporting a $9.1B asset base despite the inherent risks of large-scale urban redevelopment.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Total Assets | 9.1B | 9.13B | 8.52B | 8.44B | 8.23B | 7.62B | 7.61B | 6.79B | 6.29B | 6.28B | 5.42B | 4.91B | 4.55B | 4.22B | 3.9B | 3.66B | 3.16B | 3.22B | 3.09B | 2.99B | 2.69B | 2.35B | 2.27B | 2.14B | 2B | 1.84B | 1.62B | 1.53B | 1.48B | 1.32B | 1.04B |
| Asset Growth % | 19.54% | 7.11% | 1.05% | 2.46% | 8.02% | 0.19% | 11.96% | 8.03% | 0.22% | 15.72% | 10.42% | 8.02% | 7.76% | 8.23% | 6.52% | 15.84% | -1.95% | 4.19% | 3.46% | 11.18% | 14.37% | 3.7% | 5.76% | 7.21% | 8.78% | 13.38% | 5.67% | 3.35% | 12.74% | 27.17% | 16.83% |
| Real Estate & Other Assets | 330.65M | -48.18M | 8.03B | 7.85B | 7.66B | 7.13B | 6.44B | 6.31B | 6.03B | 6B | 5.24B | 4.68B | 4.32B | 3.96B | 3.7B | 125.21M | 117.6M | 109.61M | 51.84M | 48.09M | -2.47B | -2.17B | -2.08B | -1.96B | -1.86B | -1.71B | -1.5B | -1.4B | -1.36B | -1.21B | -924.31M |
| PP&E (Net) | 88.59M | 89.53M | 92.44M | 93.84M | 140.04M | 140.57M | 143.36M | 146.18M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.31B | 2.86B | 2.82B | 2.83B | 2.7B | 2.46B | 2.17B | 2.07B | 1.96B | 1.86B | 1.71B | 1.5B | 1.4B | 1.36B | 1.21B | 924.31M |
| Investment Securities | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 365.06M | 357.17M | 361.63M | 461.75M | 292.66M | 340.68M | 998M | 310.43M | 236.75M | 255.49M | 170.02M | 173.07M | 192.23M | 228.92M | 166.5M | 199.69M | 129.61M | 255.92M | 184.25M | 215.42M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash & Equivalents | 115.63M | 107.42M | 123.41M | 250.82M | 85.56M | 162.13M | 798.33M | 127.43M | 64.09M | 15.19M | 23.37M | 21.05M | 47.95M | 88.93M | 36.99M | 67.81M | 15.8M | 135.39M | 15.22M | 50.69M | 11.49M | 8.64M | 30.48M | 34.97M | 23.12M | 17.56M | 11.36M | 11.74M | 17.23M | 17.04M | 11.04M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 0 | -9.09M | 0 | 0 | 0 | -237.07M | -218.95M | -227.06M | -265.7M | -237.8M | -208.56M | -191.58M | -160.17M | -145.06M | -132.66M | -121.49M | 0 | -99.27M | 0 | 0 | -165.16M | -129.97M | -137.09M | -66.17M | -99.1M | -86.88M | -62.59M | -71.67M | -73.61M | -67.97M | -79.71M |
| Intangible Assets | 0 | 16.3M | 8.13M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 5.53B | 5.63B | 5.1B | 5.21B | 5.02B | 4.75B | 4.92B | 4.02B | 3.69B | 3.74B | 3.2B | 2.99B | 2.74B | 2.64B | 2.49B | 2.33B | 1.98B | 2.01B | 1.95B | 1.84B | 1.88B | 1.56B | 1.46B | 1.42B | 1.34B | 1.22B | 1.13B | 1.01B | 954.37M | 762.76M | 646.42M |
| Total Debt | 4.93B | 5.03B | 4.56B | 4.69B | 4.47B | 4.19B | 4.44B | 3.5B | 3.23B | 3.33B | 2.8B | 2.68B | 2.41B | 2.32B | 2.21B | 2.11B | 1.08B | 992.49M | 1.75B | 1.93B | 1.4B | 1.12B | 1.05B | 1.05B | 844.39M | 783.72M | 815.9M | 870.08M | 795.85M | 915.77M | 487.01M |
| Net Debt | 4.82B | 4.92B | 4.44B | 4.44B | 4.39B | 4.03B | 3.64B | 3.37B | 3.17B | 3.31B | 2.78B | 2.66B | 2.36B | 2.23B | 2.17B | 2.04B | 1.06B | 857.11M | 1.73B | 1.87B | 1.38B | 1.11B | 1.02B | 1.02B | 821.27M | 766.16M | 804.55M | 858.35M | 778.62M | 898.73M | 475.97M |
| Long-Term Debt | 4.58B | 4.94B | 4.47B | 4.6B | 4.33B | 4.05B | 4.29B | 3.36B | 3.16B | 3.21B | 2.73B | 2.56B | 2.34B | 2.25B | 2.14B | 2.05B | 1.08B | 930.22M | 1.68B | 1.56B | 988.27M | 653.67M | 568.12M | 532.75M | 532.28M | 408.29M | 363.68M | 463.29M | 287.89M | 544.9M | 159.69M |
| Short-Term Borrowings | 252.63M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 41M | 0 | 53.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 210.82M | 109.02M | 316.75M | 325.05M | 361.32M | 207.71M | 174.84M | 209M | 162.77M | 263.16M | 119.03M | 66.11M |
| Capital Lease Obligations | 354.85M | 85.21M | 87.62M | 88.54M | 145.4M | 144.69M | 144.49M | 145.69M | 71.52M | 71.56M | 71.59M | 71.62M | 71.65M | 71.67M | 71.69M | 63.09M | 0 | 62.27M | 63.49M | 152.22M | 298.72M | 148.81M | 159M | 159.49M | 104.39M | 200.59M | 243.22M | 244.03M | 244.8M | 251.84M | 261.21M |
| Total Current Liabilities | 252.63M | 351.02M | 311.25M | 297.83M | 309.11M | 347.04M | 332.87M | 358.88M | 274M | 288.93M | 289.48M | 228.31M | 220.42M | 221.43M | 181.57M | 161.11M | 155.93M | 161.57M | 136.98M | 146.21M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Payable | 0 | 219.68M | 183.56M | 174.71M | 190.34M | 235.17M | 228.64M | 255.5M | 177.92M | 196.33M | 201.76M | 146.53M | 145.69M | 156.27M | 120.93M | 104.66M | 114.33M | 120.77M | 98.26M | 110.06M | 376.95M | 367.79M | 340.19M | 61.02M | 79.52M | 414.06M | 239.11M | 85.52M | 85.15M | 7.09M | 6.78M |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 152.42M | 157.94M | 182.9M | 169.39M | 115.82M | 121.79M | 105.16M | 100.28M | 103.38M | 68.76M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 598.24M | 250.49M | 227.83M | 225.44M | 237.7M | 206.19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 742.67M | 859.18M | 63.06M | 58.18M | -1.14B | -653.67M | -568.12M | -692.24M | -636.68M | -508.58M | -485.29M | -585.29M | -410.29M | -670.8M | -290.29M |
| Total Equity | 3.56B | 3.5B | 3.42B | 3.23B | 3.21B | 2.88B | 2.69B | 2.78B | 2.6B | 2.53B | 2.22B | 1.92B | 1.81B | 1.58B | 1.41B | 1.33B | 1.18B | 1.21B | 1.15B | 1.15B | 806.27M | 794.04M | 809.49M | 691.37M | 673.65M | 589.29M | 489.45M | 523.08M | 529.95M | 553.8M | 388.88M |
| Equity Growth % | 16.24% | 2.23% | 6.17% | 0.41% | 11.66% | 7.09% | -3.22% | 6.62% | 2.8% | 14.11% | 15.65% | 5.94% | 14.97% | 12.15% | 5.96% | 12.26% | -2.31% | 5.42% | 0.04% | 42.19% | 1.54% | -1.91% | 17.08% | 2.63% | 14.32% | 20.4% | -6.43% | -1.3% | -4.31% | 42.41% | 18.76% |
| Shareholders Equity | 3.31B | 3.25B | 3.17B | 2.96B | 2.95B | 2.58B | 2.46B | 2.54B | 2.35B | 2.27B | 1.98B | 1.66B | 1.6B | 1.45B | 1.29B | 1.22B | 1.15B | 1.18B | 1.11B | 1.11B | 784.08M | 774.85M | 790.53M | 691.37M | 644.29M | 589.29M | 489.45M | 523.08M | 529.95M | 553.8M | 388.88M |
| Minority Interest | 253.21M | 251.91M | 252.84M | 262.01M | 258.37M | 296.25M | 222.31M | 240.55M | 257.65M | 265.96M | 242.8M | 255.5M | 207.21M | 127.56M | 118.2M | 109.84M | 31.3M | 31.73M | 32.35M | 31.82M | 22.19M | 19.19M | 18.95M | 29.58M | 29.37M | 0 | 0 | 0 | 0 | 0 | 0 |
| Common Stock | 870K | 869K | 862K | 833K | 818K | 790K | 771K | 759K | 745K | 733K | 722K | 696K | 687K | 1.44B | 648K | 1.21B | 615K | 1.17B | 1.1B | 601K | 568K | 544K | 536K | 506K | 450K | 417K | 410K | 404K | 707.72M | 684.82M | 597.92M |
| Additional Paid-in Capital | 4.31B | 4.31B | 4.25B | 3.96B | 3.82B | 3.49B | 3.3B | 3.17B | 3B | 2.86B | 2.72B | 2.38B | 2.28B | 2.06B | 1.88B | 1.76B | 1.67B | 1.65B | 1.53B | 1.54B | 1.28B | 1.11B | 1.11B | 980.23M | 818.29M | 730.84M | 723.08M | 713.35M | 0 | 0 | 0 |
| Retained Earnings | -1.16B | -1.22B | -1.24B | -1.16B | -1.03B | -1.07B | -988.27M | -791.12M | -818.88M | -749.37M | -749.73M | -724.7M | -683.99M | -623.79M | -586.97M | -555.54M | -527.58M | -486.45M | -426.57M | -407.38M | -467.37M | -437.82M | -416.03M | -386.74M | 0 | -322.43M | -306.29M | -286.35M | -255.21M | -222.71M | -200.7M |
| Preferred Stock | 159.82M | 159.82M | 159.82M | 159.82M | 159.82M | 160M | 160M | 160M | 160M | 160M | 10M | 10M | 10M | 10M | 10M | 10M | 10M | 10M | 10M | 10M | 0 | 135M | 135M | 0 | 100M | 235M | 100M | 100M | 100M | 100M | 0 |
| Return on Assets (ROA) | 5.67% | 4.66% | 3.48% | 2.84% | 4.86% | 3.43% | 1.83% | 5.41% | 3.85% | 4.96% | 4.84% | 4.45% | 3.75% | 4.01% | 4.02% | 4.22% | 3.85% | 3.11% | 4.27% | 6.89% | 4.71% | 4.96% | 3.82% | 4.56% | 2.88% | 3.98% | 3.84% | 3.21% | 3.21% | 3.95% | 2.99% |
| Return on Equity (ROE) | 14.44% | 11.87% | 8.88% | 7.36% | 12.66% | 9.4% | 4.82% | 13.16% | 9.42% | 12.2% | 12.08% | 11.27% | 9.71% | 10.92% | 11.13% | 11.48% | 10.27% | 8.34% | 11.32% | 20.03% | 14.84% | 14.29% | 11.21% | 13.85% | 8.76% | 12.75% | 11.95% | 9.2% | 8.3% | 9.87% | 8.02% |
| Debt / Assets | 54.24% | 55.07% | 53.51% | 55.56% | 54.35% | 55% | 58.31% | 51.54% | 51.34% | 52.99% | 51.6% | 54.58% | 53% | 55.03% | 56.65% | 57.66% | 34.18% | 30.8% | 56.45% | 64.41% | 51.92% | 47.61% | 46.41% | 49.15% | 42.23% | 42.64% | 50.33% | 56.72% | 53.62% | 69.56% | 47.04% |
| Debt / Equity | 1.38x | 1.44x | 1.33x | 1.45x | 1.39x | 1.46x | 1.65x | 1.26x | 1.24x | 1.31x | 1.26x | 1.40x | 1.33x | 1.47x | 1.57x | 1.59x | 0.91x | 0.82x | 1.52x | 1.68x | 1.73x | 1.41x | 1.30x | 1.52x | 1.25x | 1.33x | 1.67x | 1.66x | 1.50x | 1.65x | 1.25x |
| Net Debt / EBITDA | 5.21x | 5.95x | 5.45x | 6.09x | 5.30x | 5.97x | 6.68x | 4.75x | 5.22x | 5.29x | 5.39x | 5.60x | 5.35x | 5.38x | 5.49x | 5.79x | 3.05x | 2.63x | 5.27x | 5.96x | 4.66x | 4.15x | 4.21x | 4.60x | 17.05x | 3.95x | 17.16x | 5.02x | 5.22x | 6.90x | 4.22x |
| Book Value per Share | 41.13 | 40.78 | 40.98 | 39.67 | 39.90 | 37.18 | 35.58 | 37.13 | 35.52 | 35.06 | 31.24 | 27.82 | 26.84 | 24.06 | 21.93 | 21.18 | 19.26 | 20.21 | 19.47 | 20.28 | 14.94 | 14.97 | 15.70 | 14.22 | 15.71 | 14.63 | 12.26 | 12.87 | 13.22 | 14.16 | 11.58 |
Development Pipeline Execution Risk
According to the latest balance sheet data, FRT has grown total assets to $9.1B in 2026Q1, reflecting a consistent trajectory of capital deployment into high-density, mixed-use projects that expand the firm's footprint within supply-constrained coastal corridors while maintaining a disciplined approach to overall capitalization.
The steady increase in total assets from $8.3B in 2024Q1 to $9.1B in 2026Q1 suggests that management continues to prioritize long-term value creation through property development. This expansion appears to be funded by a mix of debt and retained earnings, indicating that the firm is successfully scaling its portfolio without compromising its core strategic focus on irreplaceable urban nodes.
As reported in financial statements, the debt-to-equity ratio stood at 1.38 in 2026Q1, a figure that suggests a stable leverage profile despite the capital-intensive nature of the firm's ongoing mixed-use redevelopment pipeline and the associated financing requirements for large-scale urban projects.
The debt-to-equity ratio has remained within a relatively tight band, fluctuating between 1.31 and 1.45 over the last ten quarters, which implies a conservative approach to balance sheet management. This consistency suggests that the firm is effectively balancing its growth ambitions with the need to maintain a manageable interest burden in a volatile rate environment.
Based on the provided figures, FRT maintained a cash balance of $115.6M in 2026Q1, which serves as a necessary liquidity buffer to support the significant ongoing capital requirements of its mixed-use development projects and to ensure operational flexibility during periods of market uncertainty.
While the cash position has fluctuated, the firm's ability to fund its development pipeline while maintaining consistent dividend payments suggests that liquidity remains adequate for current operational needs. Investors should monitor whether future capital requirements for new phases of development necessitate additional financing or if internal cash generation remains sufficient to cover these obligations.
Analysis of the balance sheet reveals that the persistent gap between total assets and net property, plant, and equipment may indicate significant capitalized costs, which warrants further investigation into whether these figures accurately reflect the current market value of the firm's aging mixed-use infrastructure.
The reliance on capitalized interest and development costs to bolster the balance sheet may mask the true maintenance burden of the firm's older assets. If these assets require more intensive capital reinvestment than currently anticipated, it could lead to future margin pressure that is not immediately apparent in the headline asset figures.
Quick answers to the most common questions about buying FRT stock.
As of 2025, Federal Realty Investment Trust (FRT) had total assets of $9.13B including $357.2M in current assets.
Federal Realty Investment Trust (FRT) carries total debt of $5.03B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Federal Realty Investment Trust (FRT) has total shareholders' equity (book value) of $3.25B ($40.78 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Federal Realty Investment Trust (FRT) reported a current ratio of 1.02x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.