Federal Realty Investment Trust (FRT) stock
Real Estate · Retail REITs
Federal Realty Investment Trust (FRT) is a Retail REITs company in the Real Estate sector, headquartered in Rockville, Maryland. As of October 23, 2026, FRT closed at $108.72, a market capitalization of $9.50 billion, the 494th largest company in the S&P 500. Over the last twelve months it generated $1.34 billion in revenue (+7% year over year) and $329.22 million in free cash flow. The stock trades at 22.0x trailing earnings and 33.9x forward earnings.
- 1-year total return: +12.5% (dividends reinvested)
- 5-year return: +2.2% a year
- 52-week range: $90.03 – $128.21
- Gross margin 68.1%, operating margin 35.0%
- Dividend yield: 4.27%, 18 straight years of increases
- FI Handbook report card: C across 10 metrics
- 29th largest of 30 Real Estate stocks in the S&P 500
FRT price chart
1Y price change: +7.9% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| FRT | +0.5% | +12.5% | +12.5% | +12.9% | +2.2% | +0.9% | +10.7% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1973.
FRT key statistics
- Market cap
- $9.5B
- #494 in S&P 500
- P/E (TTM)
- 22.0x
- Forward P/E
- 33.9x
- EPS (TTM)
- $4.95
- Revenue (TTM)
- $1.3B
- +7%
- Free cash flow
- $329.2M
- Gross margin
- 68.1%
- Operating margin
- 35.0%
- Return on equity
- 12.6%
- Dividend yield
- 4.27%
- 52-week range
- $90.03 – $128.21
- Beta
- 0.94
- Price / sales
- 7.1x
- EV / EBITDA
- 17.4x
- Debt / equity
- 1.34x
- Employees
- 314
FRT report card
CTen fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth7.2%C
- Gross margin68.1%A
- Operating margin35.0%A
- FCF margin24.7%B
- Return on equity12.6%C
- Net debt / EBITDA5.7xF
- Forward P/E33.9xD
- PEG ratio3.6xF
- Shareholder yield4.3%B
- Share count change / yr2.7%F
Federal Realty Investment Trust financials
Revenue went from $801.6M in fiscal 2016 to $1.3B in fiscal 2025, growing 5.3% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $801.6M | $857.3M | $915.4M | $935.8M | $835.5M | $951.2M | $1.1B | $1.1B | $1.2B | $1.3B |
| Operating income | $321.0M | $410.2M | $361.6M | $470.9M | $289.5M | $394.7M | $526.4M | $406.5M | $472.4M | $602.2M |
| Net income | $249.9M | $289.9M | $241.9M | $353.9M | $131.7M | $261.5M | $385.5M | $237.0M | $295.2M | $411.1M |
| EPS (diluted) | $3.50 | $3.97 | $3.18 | $4.61 | $1.62 | $3.26 | $4.71 | $2.80 | $3.42 | $4.68 |
| Diluted shares | 71.0M | 72.2M | 73.3M | 74.8M | 75.5M | 77.4M | 80.5M | 81.3M | 83.6M | 86.4M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into FRT?
A reverse DCF asks what growth the current price requires. With an enterprise value of $14.2B and $329.2M of trailing free cash flow, Federal Realty Investment Trust needs to grow free cash flow about 30.6% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return.
P/E ratio history
Current 23.2x vs. median 40.8x (10th–90th percentile 21.6x–56.0x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
FRT dividend
- Dividend yield
- 4.27%
- Annual dividend
- $4.64
- Years of increases
- 18
- 5-yr dividend growth
- 1.0%
- per year
- Payout ratio
- 91%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
FRT analyst price targets
19 analysts' average 12-month target is $127.37 (+17% vs. $108.72). Targets range from $115.00 to $145.00. 68% rate it a buy.
FRT earnings
Next report: October 30, 2026. Federal Realty Investment Trust has beaten EPS estimates 3 quarters in a row. Last quarter's revenue was $335.7M (+8% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 31, 2026 | $0.72 | $0.97 | +35.3% |
| May 1, 2026 | $0.68 | $1.81 | +165.2% |
| Feb 12, 2026 | $0.76 | $1.56 | +104.7% |
| Oct 31, 2025 | $0.78 | $0.69 | -11.3% |
| Aug 6, 2025 | $0.75 | $1.78 | +138.3% |
| May 8, 2025 | $0.70 | $0.72 | +2.2% |
| Feb 13, 2025 | $0.74 | $0.73 | -1.1% |
| Oct 30, 2024 | $0.74 | $0.70 | -5.2% |
Stocks like FRT
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 SPG Simon Property | -0.19% | +24% | $80.3B | 14.9x | Compare |
 O Realty Income | -0.30% | -0% | $53.8B | 41.2x | Compare |
 KIM Kimco Realty Corporation (HC) | +0.13% | +11% | $15.8B | 27.8x | Compare |
 REG Regency Centers | -0.54% | +6% | $13.8B | 24.9x | Compare |
 WELL Welltower | -0.03% | +37% | $171.0B | 106.4x | Compare |
 PLD Prologis | -0.17% | +4% | $122.9B | 28.1x | Compare |
 EQIX Equinix | +0.25% | +17% | $94.2B | 61.5x | Compare |
 AMT American Tower Corporation (REI | +4.08% | +3% | $88.1B | 26.0x | Compare |
FRT news
- Federal Realty's Q3 2026 Earnings: What to Expect · Oct 15, 2026
- Federal Realty Acquires The Summit, Alabama's Premier Retail Destination · Oct 1, 2026
- How Is Federal Realty Investment Trust’s Stock Performance Compared to Other REITs? · Sep 25, 2026
- FRT- A Dividend King in the Retail REIT Subsector · Sep 21, 2026
- EPR or FRT: Which Is the Better Value Stock Right Now? · Sep 17, 2026
FRT stock FAQ
What is FRT's market cap?
Federal Realty Investment Trust's market capitalization is $9.50 billion as of October 23, 2026, ranking 494th in the S&P 500.
What is FRT's P/E ratio?
FRT trades at a trailing price-to-earnings ratio of 22.0x and a forward P/E of 33.9x. Its median P/E over the period we track is 40.8x.
Does FRT pay a dividend?
Yes. Federal Realty Investment Trust pays $4.64 per share a year, a 4.27% yield. It has raised its dividend 18 years in a row. Dividends grew 1.0% a year over the last five years.
How much has FRT stock returned?
Including reinvested dividends, FRT returned +12.5% over one year, +2.2% a year over five years, +0.9% a year over ten years through October 23, 2026.
Is FRT stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Federal Realty Investment Trust must grow free cash flow about 31% a year for the next decade. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the FRT price target?
19 analysts cover FRT with an average 12-month price target of $127.37, +17% from the current price. 68% of them rate it a buy.
When does FRT report earnings?
Federal Realty Investment Trust is expected to report earnings on October 30, 2026. It has beaten EPS estimates 3 quarters in a row.
How many employees does Federal Realty Investment Trust have?
Federal Realty Investment Trust has about 314 full-time employees, or $4.3 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology