Federal Realty Investment Trust (FRT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Federal Realty Investment Trust

NYSE•Real Estate•REIT - Retail

$111.76-0.66(-0.01%)After hours

Market Cap

$9.69B

P/E

22.2x

P/S

7.3x

P/B

2.9x

Federal Realty Investment Trust is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets and select underserved regions with strong economic and demographic fundamentals. Federal Realty's mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. This includes a portfolio of open-air shopping centers and mixed-use destinationssuch as Santana Row, Pike & Rose, and Assembly Row, which together reflect the company's ability to create distinctive, high-performing environments that serve as vibrant destinations for their communities. Federal Realty's 103 properties include approximately 3,700 tenants in 28.8 million commercial square feet, and approximately 2,500 residential units. Federal Realty has increased its quarterly dividends to its shareholders for 59 consecutive years, the longest record in the REIT industry. Federal Realty Investment Trust is based in North Bethesda, Maryland. Federal Realty Investment Trust was incorporated in 1962 in Maryland.

How this company scores

GoodMetricSide Score: 65/100

Strongest: Profitability (20/25); weakest: Balance Sheet & Red Flags (10/25).

Profitability20/25

Growth19/25

Balance Sheet & Red Flags10/25

Cash & Earnings Quality16/25

Strengths

Strong marginsRising earningsConsistent free cash flowProfit converts from growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 22.2x5y range 17.7x – 40.6x

Currently near its 20-quarter median.

P/S · 7.3x5y range 6.6x – 11.1x

Currently near its 20-quarter median.

P/B · 2.9x5y range 2.5x – 4.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Share Dilution

Watch

Shares outstanding rose 2.6% — mild dilution. Compare to earnings growth to assess the net per-share impact.

Price & Volume

Market Cap $9.69B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.34B
Q. Revenue: $335.71M
TTM EBITDA: $1.03B
TTM Op. Income: $638.97M
Q. Op. Income: $138.66M
TTM Net Income: $436.19M
Q. Net Income: $85.70M
EPS: $0.97
Shares Out.: $86.18M

$1.34B in TTM revenue grew 8.0% YoY, reaching $335.71M last quarter. TTM EBITDA of $1.03B and TTM operating income of $638.97M show growth is flowing through to the bottom line. TTM net income of $436.19M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 71.3%
Op. Margin: 41.3%
Net Margin: 25.5%

Op. margin of 41.3% is down 23.8% YoY — costs are rising relative to revenue. Net margin at 25.5% Over the past year, operating margin is down 37% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 22.2x
P/S Ratio: 7.3x
P/B Ratio: 2.9x

At 22.2x P/E, the stock trades within typical market levels. P/S of 7.3x and P/B of 2.9x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 6% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $9.06B
Cash: $107.25M
Long-Term Debt: N/A
Book Value: $3.36B
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $153.74M
TTM Free Cash Flow: $329.22M
FCF Margin: 24.7%
FCF / Net Income: 0.8

TTM FCF of $329.22M on $153.74M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 5 consecutive quarters — a weakening trend.