Federal Realty Investment Trust (FRT) stock analysis
Federal Realty Investment Trust (FRT) clears 3 of this site's 8 mechanical value filters, 3 of 8 Buffett-style checks and 2 of 5 Lynch-style checks. A free-cash-flow DCF does not fit real estate companies, so no margin of safety is shown. Its earnings quality rates Mixed and it returns −0.2% to shareholders net of dilution. Figures are as of October 23, 2026, from SEC filings and market data refreshed weekly; this is educational analysis, not investment advice.
Data as of October 23, 2026. Refreshed weekly from SEC filings and market data.
What does Federal Realty Investment Trust do?
Federal Realty Investment Trust is a real estate investment trust that owns shopping centers and mixed-use properties in affluent US markets.
Brands and businesses it owns
- Santana Row
- Pike & Rose
What stands out about Federal Realty Investment Trust?
- Misses 3 of the 8 value filters. It fails Market Cap > $25B ($9.5B), Price/Sales < 7 (7.13) and EPS Growth YoY > -5% (-44.8%); the other 3 pass and 2 were not evaluated. See every filter.
- Earnings quality: Mixed · 1 flag. accruals −2.4% of assets · 186% of profit arrived as cash · stock comp 1.1% of revenue · share count +3.1% a year. From the latest 10-K (year to Dec 2025). See the Earnings Quality Screener.
- Short interest is elevated. 5.5% of the float is sold short, 4.1 days to cover, above this site's 5% flag. See the figures.
- Owners are being diluted. Its net shareholder yield is −0.2%: more stock is issued than is bought back or paid out. See Shareholder Yield Leaders.
How has Federal Realty Investment Trust's share price moved?
The interactive price chart needs JavaScript.
Is Federal Realty Investment Trust undervalued? The value diligence check
Every value-investing signal this site computes for this stock, gathered in one place: the same real numbers from the tools below, not a new score.
- Margin of safety (DCF) n/a (Real Estate)
- P/E vs. its own history 21.8x · near the cheap end Real range: 21.1x–40.4x over 5 years (net income per diluted share from each fiscal year's 10-K, paired with the real closing price at that fiscal year-end).
- Wall St. analyst rating Buy · 3.91/5 22 analysts this month: 5 strong buy, 10 buy, 7 hold, 0 sell, 0 strong sell (Finnhub). Down from 3.92 last month.
- Altman Z″-Score (bankruptcy risk) n/a (Real Estate)
- Earnings quality (is the profit real?) Mixed · 1 flag accruals −2.4% of assets · 186% of profit arrived as cash · stock comp 1.1% of revenue · share count +3.1% a year. From the latest 10-K (year to Dec 2025) - see the Earnings Quality Screener for how each check is scored.
- Shareholder yield (cash back to owners) −0.2% net Latest fiscal year (2025): dividends 0.0% + buybacks 0.0% − stock comp 0.2%, as a share of today's market cap. Stock comp outruns what comes back in cash. Over 14 years its split-adjusted share count rose 38%. See Shareholder Yield Leaders.
- Capital needed to grow (See's test) n/a (bank, insurer, lender or REIT)
- PEG (growth at a reasonable price) n/a (falling or negative earnings)
- Compounder lenses (4) 0 of 4 · misses capital-light (n/a), real profit, cash back, price (n/a) Capital-light growth: cannot be measured (bank, insurer, lender or REIT); Profit is real: not cleared (1 earnings-quality flag); Cash to owners: not cleared (−0.2% a year net); Fair price (PEG): cannot be measured (falling or negative earnings). See Compounders at a Fair Price, which also lets you move the PEG bar.
- Munger's Inversion Check 2 flags
- Standing vs. sector peers 4 of 4 measures above the median Compared with the 29 other real estate stocks this site tracks: 3 in the top third, 0 in the bottom third.
- Dividend payout sustainability 1/6 flags
How does Federal Realty Investment Trust compare with its peers?
4 of 4 measures sit above the median of the 29 other real estate stocks tracked here, 3 in the top third.
- P/E ratiolower is cheaper · peer median 31.5× 21.8× ✓5th of 29
- Return on equityhigher is better · peer median 8% 13% ✓9th of 30
- Net marginhigher is better · peer median 20.9% 32.7% ✓7th of 30
- Dividend yieldamong dividend payers · peer median 4.08% 4.14% –14th of 28
Peers are the stocks this site tracks in the same sector group, not every listed competitor. The bar runs from the weakest peer (left) to the strongest (right); the tick is the middle. Measures that don't apply to a sector (cash-flow yield for banks, debt for financials) are left out.
What would Buffett & Lynch say?
Buffett's checklist is built around durable, profitable businesses bought at sensible prices, and FRT doesn't clear enough of it yet. In its favor: FRT is currently earning a strong return on shareholders' equity, converts sales into profit at healthy margins, and has grown earnings per share at a solid clip over five years. Where it comes up short: FRT and its five-year average return on equity falls short too, so this isn't just a one-off dip, carries more debt relative to equity than he typically tolerates, doesn't cover its interest expense as comfortably as he'd want, is trading above what a conservative discounted-cash-flow estimate says it's worth right now, and trades rich relative to owner earnings, the real cash the business could pay out.
- ROE (TTM) > 11% ✓
- ROE (5yr avg) > 11% ✕
- Debt/Equity < 0.5 ✕
- Pretax margin > 15% ✓
- EPS growth (5yr) > 7% ✓
- Interest coverage > 5x ✕
- Trading below intrinsic value (DCF) ✕
- Price vs. owner earnings < 25x ✕
Lynch looked for growth stories that weren't overpriced for that growth, and FRT falls short of his bar. In its favor: FRT is growing earnings 20-50% a year, his classic fast-grower zone, and isn't asking too much even by a fast grower's usual richer multiple. Where it comes up short: FRT doesn't clear the tighter PEG bar a fast grower needs to justify its pace, is leaning on more debt than he liked a growth story to carry, and isn't generating enough free cash flow to justify a fast grower's richer price.
- PEG < 1 (stricter for fast growers) ✕
- EPS growth 20%-50% ✓
- Debt/Equity < 0.5 ✕
- P/E < 40 ✓
- Price/FCF < 40 ✕
Quantitative approximations of each investor's documented approach, not endorsed by either investor or their estates - commentary, not this site's actual ranking criteria. Buffett never published a numeric checklist: only 2 of his 8 checks here trace to his own documented concepts ("owner earnings," from his 1986 shareholder letter, and "price is what you pay, value is what you get," his case against fixed P/E/P/B ceilings) - the other 6 (ROE, debt, margins, growth, interest coverage) use commonly-cited thresholds that are not numbers he himself published. The 8 hard filters below (plus the Munger check and Graham margin of safety) are this site's real, mechanical screen and are computed completely independently of the checklists above.
Berkshire Hathaway's own filing
Which of the 8 value filters does Federal Realty Investment Trust pass?
- Market Cap > $25B $9.5B
- Trailing P/E < 25 21.82
- PEG Ratio < 1.5 -4.73
- Price/Book < 8 2.83
- Price/Sales < 7 7.13
- EPS Growth YoY > -5% -44.8%
- vs 50-day MA (±12%) Not evaluated †
- vs 200-day MA (±12%) Not evaluated †
What is Federal Realty Investment Trust's margin of safety?
A standard free-cash-flow DCF doesn't fit how real estate companies report cash flow.
Where is Federal Realty Investment Trust in its 52-week range?
What is the short interest in Federal Realty Investment Trust?
4,706,431 shares short as of 2026-09-30 (FINRA settlement date). Reported twice a month, so this only changes roughly every two weeks, not daily.
What could go wrong with Federal Realty Investment Trust? Munger's inversion check
"Invert, always invert." Instead of reasons to buy, these are reasons to hesitate, not a verdict, and not everything worth knowing about a business.
- Margin of safety, even in the bull case n/a (Real Estate)
- Short interest under 5% of float 5.5%
- Passes most of the 6 fundamental filters 3/6 passed
Doesn't cover circle of competence, management quality, or accounting concerns: those need judgment, not data.
How much have Federal Realty Investment Trust shareholders gained per year?
Earnings growth per share plus dividend.
An earnings-based proxy, not a stock-price total return - it doesn't capture multiple expansion/contraction or reinvested dividends. EPS from FRT's own 10-K filings; dividend yield is the current trailing yield on today's price, from the same weekly fetch as the rest of this site.
What do Federal Realty Investment Trust's 10-year financials show?
From FRT's own 10-K filings (SEC EDGAR): up to the last 10 fiscal years. Press any year's bars for the exact figures.
Frequently asked questions about Federal Realty Investment Trust
What kind of company is Federal Realty Investment Trust?
Federal Realty Investment Trust is a real estate investment trust that owns shopping centers and mixed-use properties in affluent US markets. Brands and businesses it owns include Santana Row and Pike & Rose. This site groups it with Real Estate stocks.
Why does Federal Realty Investment Trust have no margin of safety on this site?
This site's DCF values a company from its free cash flow, and that does not fit real-estate companies, which are valued on property income rather than on free cash flow. So FRT gets no margin of safety; judge it on the other checks on this page, such as its filters, shareholder yield and ranking against its peers. The method is in the Intrinsic Value Calculator.
How many of this site's 8 value filters does Federal Realty Investment Trust pass?
FRT passes 3 of 8. It passes Trailing P/E < 25 (21.82), PEG Ratio < 1.5 (-4.73) and Price/Book < 8 (2.83). It misses Market Cap > $25B ($9.5B), Price/Sales < 7 (7.13) and EPS Growth YoY > -5% (-44.8%). vs 50-day MA (±12%) and vs 200-day MA (±12%) were not evaluated, because the moving-average checks only run on stocks that clear the fundamentals first. The 8-filter list shows every stock that passes all of them.
Are Federal Realty Investment Trust's reported earnings reliable?
This site's earnings-quality check rates FRT Mixed · 1 flag. accruals −2.4% of assets · 186% of profit arrived as cash · stock comp 1.1% of revenue · share count +3.1% a year. From the latest 10-K (year to Dec 2025). Concerns: share dilution (flagged). The five checks are the Beneish M-score (manipulation risk), accruals, cash conversion, stock-based compensation and share dilution; the Earnings Quality Screener shows how each is graded.
How much cash does Federal Realty Investment Trust return to shareholders?
FRT's net shareholder yield is −0.2%: the cash it returns through dividends and buybacks, minus stock-based compensation, as a share of its market value. Latest fiscal year (2025): dividends 0.0% + buybacks 0.0% − stock comp 0.2%, as a share of today's market cap. Stock comp outruns what comes back in cash. Over 14 years its split-adjusted share count rose 38%. Its trailing dividend yield is 4.14%, paid out of 337% of its free cash flow; the dividend-sustainability check raises 1 of 6 flags (a high cash-flow payout). See Shareholder Yield Leaders and the Sustainable Dividend Screener.
When does Federal Realty Investment Trust report earnings next?
Federal Realty Investment Trust's next earnings report is expected on October 30, 2026 after the market closes, with analysts expecting earnings of $0.73 per share. Dates come from the Finnhub earnings calendar and can move. In its last 4 quarters it beat the estimate 3 times, by an average of +70.2%.
Where do these numbers come from?
- Financial statements: Federal Realty Investment Trust's 10-K annual report for the year ended Dec 31, 2025, filed Feb 12, 2026 (filing index). Every earlier year in the 10-year financials comes from the company's older 10-K filings, all listed on SEC EDGAR.
- Prices and market data: quotes, P/E and analyst ratings from Finnhub; daily price history and the 52-week range from Twelve Data, both refreshed weekly. Short interest comes from FINRA, reported twice a month.
- How to check a figure: click any number in the card above to see its exact source, and read the Editorial Standards for every rule behind the checks.
About this Federal Realty Investment Trust analysis
This page shows every value-investing check the site runs on Federal Realty Investment Trust (FRT) in one place: the 8 mechanical filters, the Buffett and Lynch checklists, a margin of safety from a disclosed DCF, earnings quality, shareholder yield and how it ranks against its sector peers. The numbers come from SEC filings and public market data, refreshed weekly, and the same rules apply to every stock on the stock list. See Editorial Standards for the sources and the rules, or run your own filters in the stock screener.