A Business at a Glance
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Forward-Looking Statements Certain statements included in this Annual Report on Form 10-K are forward-looking statements. Those statements include statements regarding the intent, belief or current expectations of Federal Realty Investment Trust and Federal Realty OP LP (together, “we” “our” or “us”) and members of our management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as “may,” “will,” “seeks,” “anticipates,” “believes,” “estimates,” “expects,” “plans,” “intends,” “should” or similar expressions. Actual results may differ materially from those contemplated by such forward-looking statements. Further, forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.3B | 1.3B | 1.2B | 1.1B | 1.1B | 951M |
| Net Income | 403M | 403M | 287M | 229M | 377M | 253M |
| EPS | $4.68 | $4.68 | $3.42 | $2.80 | $4.71 | $3.26 |
| Free Cash Flow | 443M | 443M | -161M | 342M | 208M | 103M |
| ROIC | 13.8% | 15.2% | 5.8% | 5.7% | 7.4% | 6.2% |
| Gross Margin | - | - | 62.5% | 63.9% | 63.4% | 62.4% |
| Debt/Equity | 0.33 | 0.33 | 1.66 | 1.56 | 1.47 | 1.57 |
| Dividends/Share | $4.51 | $4.51 | $4.46 | $4.34 | $4.30 | $4.26 |
| Operating Income | 602M | 602M | 472M | 406M | 526M | 395M |
| Operating Margin | 47.1% | 47.1% | 39.3% | 35.9% | 49.0% | 41.5% |
| ROE | 12.4% | 12.6% | 9.1% | 7.7% | 12.8% | 9.8% |
| Shares Outstanding | 86M | 86M | 84M | 82M | 80M | 78M |
FEDERAL REALTY INVESTMENT TRUST passes 6 of 9 quality checks, suggesting mixed fundamentals.
FEDERAL REALTY INVESTMENT TRUST trades at 23.3x trailing earnings, compared to its 15-year median P/E of 27.9x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 21.2x vs a median of 32.2x. The company's 5-year average ROIC is 8.1% with a gross margin of 63.0%. Total shareholder yield (dividends) is 4.1%. At current prices, the estimated annualized return to fair value is +23.7%.
FEDERAL REALTY INVESTMENT TRUST (FRT) has a current P/E ratio of 23.3, compared to its historical median P/E of 27.9. The stock is currently considered Fair based on its historical valuation range.
FEDERAL REALTY INVESTMENT TRUST (FRT) has a 5-year average return on invested capital (ROIC) of 8.1%. This is below average and may indicate limited pricing power.
FEDERAL REALTY INVESTMENT TRUST (FRT) has a market capitalization of $9.4B. It is classified as a mid-cap stock.
Yes, FEDERAL REALTY INVESTMENT TRUST (FRT) pays a dividend with a trailing twelve-month yield of 4.13%.
Based on historical P/E analysis, FEDERAL REALTY INVESTMENT TRUST (FRT) appears fair. The current P/E of 23.3 is 17% below its historical median of 27.9. The estimated fair value CAGR (P/E method) is 2.8%.
FEDERAL REALTY INVESTMENT TRUST (FRT) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
FEDERAL REALTY INVESTMENT TRUST (FRT) reported annual revenue of $1.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
FEDERAL REALTY INVESTMENT TRUST (FRT) has a net profit margin of 31.5%. This is a strong margin indicating high profitability.
FEDERAL REALTY INVESTMENT TRUST (FRT) generated $443 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
FEDERAL REALTY INVESTMENT TRUST (FRT) has a debt-to-equity ratio of 0.33. This indicates a conservatively financed balance sheet.
FEDERAL REALTY INVESTMENT TRUST (FRT) reported earnings per share (EPS) of $4.68 in its most recent fiscal year.
FEDERAL REALTY INVESTMENT TRUST (FRT) has a return on equity (ROE) of 12.6%. This indicates moderate shareholder returns.
FEDERAL REALTY INVESTMENT TRUST (FRT) has a 5-year average gross margin of 63.0%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 18 years of financial data for FEDERAL REALTY INVESTMENT TRUST (FRT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FEDERAL REALTY INVESTMENT TRUST (FRT) has a book value per share of $37.72, based on its most recent annual SEC filing.