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Forest City Realty Trust

NYSE:FCE.A
Snowflake Description

Solid track record average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FCE.A
NYSE
$7B
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Forest City Realty Trust, Inc. is an NYSE-listed national real estate company with $8.6 billion in consolidated assets. The last earnings update was 35 days ago. More info.


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FCE.A Share Price and Events
7 Day Returns
0.2%
NYSE:FCE.A
2.4%
US REITs
3%
US Market
1 Year Returns
6.5%
NYSE:FCE.A
-0.2%
US REITs
3.4%
US Market
FCE.A Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Forest City Realty Trust (FCE.A) 0.2% 0.6% 0.9% 6.5% 16.1% 33.5%
US REITs 2.4% 5% -0.9% -0.2% 10.6% 30.1%
US Market 3% 1% -6.2% 3.4% 8.8% -53.5%
1 Year Return vs Industry and Market
  • FCE.A outperformed the REITs industry which returned -0.2% over the past year.
  • FCE.A outperformed the Market in United States of America which returned 3.4% over the past year.
Price Volatility
FCE.A
Industry
5yr Volatility vs Market

FCE.A Value

 Is Forest City Realty Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Forest City Realty Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Forest City Realty Trust.

NYSE:FCE.A Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Funds From Operations
Levered Funds From Operations Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:FCE.A
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.48
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.476 (1 + (1- 21%) (51.35%))
0.669
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (0.8 * 7.05%)
8.59%

Discounted Cash Flow Calculation for NYSE:FCE.A using 2 Stage Free Cash Flow to Equity using Funds From Operations Model

The calculations below outline how an intrinsic value for Forest City Realty Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

Forest City Realty Trust is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:FCE.A DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Funds From Operations (FFO) (USD, Millions) 432.49 421.11 410.04 399.25 388.75
Source Analyst x1 Est @ -2.63% Est @ -2.63% Est @ -2.63% Est @ -2.63%
Present Value
Discounted (@ 8.59%)
398.28 357.12 320.22 287.13 257.47
Present value of next 5 years cash flows $1,620.22
NYSE:FCE.A DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $388.75 × (1 + 2.95%) ÷ (8.59% – 2.95%)
$7,096.03
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $7,096.03 ÷ (1 + 8.59%)5
$4,699.66
NYSE:FCE.A Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $1,620.22 + $4,699.66
$6,319.88
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $6,319.88 / 272.27
$23.2
NYSE:FCE.A Discount to Share Price
Calculation Result
Value per share (USD) From above. $23.20
Current discount Discount to share price of $25.32
= -1 x ($25.32 - $23.20) / $23.20
-9.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Forest City Realty Trust is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Forest City Realty Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Forest City Realty Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:FCE.A PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in USD $3.05
NYSE:FCE.A Share Price ** NYSE (2018-12-04) in USD $25.32
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 29.53x
United States of America Market PE Ratio Median Figure of 2,991 Publicly-Listed Companies 18.04x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Forest City Realty Trust.

NYSE:FCE.A PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:FCE.A Share Price ÷ EPS (both in USD)

= 25.32 ÷ 3.05

8.3x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Forest City Realty Trust is good value based on earnings compared to the US REITs industry average.
  • Forest City Realty Trust is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Forest City Realty Trust's expected growth come at a high price?
Raw Data
NYSE:FCE.A PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.3x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-93.9%per year
United States of America REITs Industry PEG Ratio Median Figure of 143 Publicly-Listed REITs Companies 1.17x
United States of America Market PEG Ratio Median Figure of 2,102 Publicly-Listed Companies 1.29x

*Line of best fit is calculated by linear regression .

NYSE:FCE.A PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.3x ÷ -93.9%

-0.09x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Forest City Realty Trust earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Forest City Realty Trust's assets?
Raw Data
NYSE:FCE.A PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in USD $15.34
NYSE:FCE.A Share Price * NYSE (2018-12-04) in USD $25.32
United States of America REITs Industry PB Ratio Median Figure of 192 Publicly-Listed REITs Companies 1.72x
United States of America Market PB Ratio Median Figure of 5,007 Publicly-Listed Companies 1.86x
NYSE:FCE.A PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:FCE.A Share Price ÷ Book Value per Share (both in USD)

= 25.32 ÷ 15.34

1.65x

* Primary Listing of Forest City Realty Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Forest City Realty Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Forest City Realty Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Forest City Realty Trust has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

FCE.A Future Performance

 How is Forest City Realty Trust expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-93.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Forest City Realty Trust expected to grow at an attractive rate?
  • Forest City Realty Trust's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 3%.
Growth vs Market Checks
  • Forest City Realty Trust's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Forest City Realty Trust's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:FCE.A Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:FCE.A Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -93.9%
NYSE:FCE.A Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 8.9%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 0.1%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:FCE.A Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:FCE.A Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2019-12-31 1,074 173 1
2018-12-31 1,143 295 1
NYSE:FCE.A Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-09-30 879 335 812
2018-06-30 897 383 374
2018-03-31 918 411 362
2017-12-31 937 431 204
2017-09-30 956 415 119
2017-06-30 956 363 -317
2017-03-31 948 357 -343
2016-12-31 959 293 -207
2016-09-30 992 307 318
2016-06-30 1,020 280 472
2016-03-31 1,019 253 750
2015-12-31 1,001 275 522

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Forest City Realty Trust's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Forest City Realty Trust's revenue is expected to grow by 8.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:FCE.A Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Forest City Realty Trust Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:FCE.A Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2019-12-31
2018-12-31
NYSE:FCE.A Past Financials Data
Date (Data in USD Millions) EPS *
2018-09-30 3.05
2018-06-30 1.41
2018-03-31 1.37
2017-12-31 0.78
2017-09-30 0.46
2017-06-30 -1.22
2017-03-31 -1.33
2016-12-31 -0.80
2016-09-30 1.23
2016-06-30 1.83
2016-03-31 2.98
2015-12-31 2.20

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Forest City Realty Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Forest City Realty Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Forest City Realty Trust has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

FCE.A Past Performance

  How has Forest City Realty Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Forest City Realty Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Forest City Realty Trust has delivered over 20% year on year earnings growth in the past 5 years.
  • Forest City Realty Trust's 1-year earnings growth exceeds its 5-year average (583.9% vs 23.6%)
  • Forest City Realty Trust's earnings growth has exceeded the US REITs industry average in the past year (583.9% vs 14%).
Earnings and Revenue History
Forest City Realty Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Forest City Realty Trust Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:FCE.A Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 879.15 812.12 52.83
2018-06-30 897.31 373.82 59.16
2018-03-31 918.39 361.96 59.76
2017-12-31 937.09 204.35 63.03
2017-09-30 955.66 118.75 57.64
2017-06-30 955.86 -317.11 59.06
2017-03-31 948.02 -343.39 61.77
2016-12-31 959.18 -206.58 63.29
2016-09-30 992.08 317.72 65.81
2016-06-30 1,020.25 472.43 58.84
2016-03-31 1,018.97 749.82 56.45
2015-12-31 1,000.54 521.84 52.87
2015-09-30 859.18 62.39 49.70
2015-06-30 821.80 339.23 52.46
2015-03-31 818.20 -61.74 48.13
2014-12-31 890.15 -7.86 49.52
2014-09-30 978.37 -232.19 46.80
2014-06-30 1,020.32 -3.47 47.13
2014-03-31 1,068.59 54.89 61.66
2013-12-31 974.99 36.44 50.07
2013-10-31 1,196.95 108.25 0.93
2013-07-31 1,203.38 -71.95 0.89
2013-04-30 1,153.59 -93.72 0.86
2013-01-31 1,048.07 -53.91 53.28
2012-10-31 1,049.10 -181.35 0.80
2012-07-31 1,029.04 -183.30 1.29
2012-04-30 1,024.68 -146.52 1.45
2012-01-31 997.74 -130.49 1.25

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Forest City Realty Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Forest City Realty Trust used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • Forest City Realty Trust has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Forest City Realty Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Forest City Realty Trust has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

FCE.A Health

 How is Forest City Realty Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Forest City Realty Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Forest City Realty Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Forest City Realty Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Forest City Realty Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Forest City Realty Trust Company Filings, last reported 2 months ago.

NYSE:FCE.A Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 4,373.72 3,541.78 491.18
2018-06-30 3,873.17 3,375.03 467.44
2018-03-31 3,852.65 3,426.37 461.11
2017-12-31 3,844.72 3,457.51 204.26
2017-09-30 3,801.76 3,591.24 204.13
2017-06-30 3,836.54 3,623.88 184.07
2017-03-31 3,804.65 3,577.40 157.10
2016-12-31 3,785.00 3,592.48 174.62
2016-09-30 3,765.35 3,916.49 399.75
2016-06-30 4,200.21 3,866.96 400.64
2016-03-31 4,166.03 3,806.86 304.84
2015-12-31 4,134.53 4,296.62 265.68
2015-09-30 3,586.49 4,859.00 344.86
2015-06-30 3,727.66 4,934.58 347.60
2015-03-31 2,592.14 4,772.79 203.10
2014-12-31 2,335.76 4,593.28 290.67
2014-09-30 1,964.35 4,823.09 187.76
2014-06-30 1,967.81 5,159.64 462.57
2014-03-31 2,112.76 5,293.72 248.70
2013-12-31 2,097.86 5,402.61 280.21
2013-10-31 2,238.31 5,546.90 237.39
2013-07-31 2,189.04 6,951.39 321.75
2013-04-30 2,111.23 6,775.87 281.28
2013-01-31 1,977.71 6,929.35 333.22
2012-10-31 1,924.50 7,091.08 259.82
2012-07-31 1,947.93 7,106.22 261.23
2012-04-30 2,006.55 6,893.99 302.09
2012-01-31 1,981.02 6,872.07 217.49
  • Forest City Realty Trust's level of debt (81%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (270.2% vs 81% today).
  • Debt is not well covered by operating cash flow (9.5%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.6x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Forest City Realty Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Forest City Realty Trust has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

FCE.A Dividends

 What is Forest City Realty Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.84%
Current annual income from Forest City Realty Trust dividends. Estimated to be 2.53% next year.
If you bought $2,000 of Forest City Realty Trust shares you are expected to receive $57 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Forest City Realty Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.37%).
  • Forest City Realty Trust's dividend is below the markets top 25% of dividend payers in United States of America (3.54%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:FCE.A Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 183 Stocks 4.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1981 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:FCE.A Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2019-12-31 0.72 1.00
2018-12-31 0.56 1.00
NYSE:FCE.A Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-05-15 0.720 3.044
2018-02-22 0.000 0.000
2017-11-29 0.560 2.390
2017-08-22 0.000 0.000
2017-08-03 0.000 0.000
2017-05-04 0.360 1.520
2016-11-30 0.240 1.103
2016-08-18 0.240 1.123
2016-05-17 0.240 1.051
2016-02-18 0.240 1.162
2010-09-08 0.000 0.000
2010-06-08 0.000 0.000
2010-03-31 0.000 0.000
2010-03-30 0.000 0.000
2009-12-08 0.000 0.000
2009-09-09 0.000 0.000
2009-09-08 0.000 0.000
2009-06-08 0.000 0.000
2008-12-08 0.000 0.000
2008-12-05 0.320 3.580

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Forest City Realty Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.9x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Forest City Realty Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Forest City Realty Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Forest City Realty Trust has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

FCE.A Management

 What is the CEO of Forest City Realty Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David LaRue
COMPENSATION $5,354,489
AGE 57
TENURE AS CEO 7.5 years
CEO Bio

Mr. David J. LaRue has been the Chief Executive Officer and President at Forest City Realty Trust, Inc since June 10, 2011. Mr. LaRue served as the Chief Operating Officer and Executive Vice President at Forest City Realty Trust, Inc from March 2010 to June 10, 2011, with companywide responsibility for all real estate operations. He was also responsible for fostering Forest City's strategic growth initiatives. Mr. LaRue served as the President and Chief Operating Officer at Forest City Commercial Group and Forest City Enterprises Inc. since June 2003. He was responsible for the execution of operating and development plans within the Commercial Group. Mr. LaRue joined Forest City since 1986. He served as an Executive Vice President of Forest City Rental Properties from 1997 to 2003 and focusing on Commercial Property operations and also served as a Financial Manager of Tower City Center Development Project in Cleveland. Prior to Forest City, Mr. LaRue served as a Financial Analyst at Sherwin-Williams Company for 3 years. He has been a Director of Forest City Realty Trust, Inc since June 2011. Mr. LaRue serves as a Board Member of Flagstone Insurance Inc., an affiliate of First Financial Bankcorp. He serves as a Director of Cleveland School of the Arts. Mr. LaRue serves as a Board Member for the Greater Cleveland Sports Commission., Cleveland Leadership Center and the Greater Cleveland Partnership. He serves as a Trustee of International Council Of Shopping Centers Inc. and served as the Chairman from 2013 to 2014. Mr. LaRue served as a Trustee of CubeSmart, the general Partner of CubeSmart, L.P. from October 2004 to May 29, 2013. He holds a Bachelor's Degree in Business/Accounting from Wittenberg University.

CEO Compensation
  • David's compensation has increased by more than 20% in the past year.
  • David's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Forest City Realty Trust management team in years:

5.5
Average Tenure
56.5
Average Age
  • The average tenure for the Forest City Realty Trust management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

David LaRue

TITLE
President
COMPENSATION
$5M
AGE
57
TENURE
7.5 yrs

Bob O'Brien

TITLE
Executive VP & CFO
COMPENSATION
$3M
AGE
60
TENURE
10.7 yrs

Duane Bishop

TITLE
Executive VP & COO
COMPENSATION
$2M
AGE
56
TENURE
2.9 yrs

Brian Ratner

TITLE
Executive VP & President of Forest City Dallas
COMPENSATION
$2M
AGE
60
TENURE
17.5 yrs

Chuck Obert

TITLE
Executive VP
AGE
53
TENURE
7.3 yrs

Mike Lonsway

TITLE
Executive Vice President - Planning
TENURE
1.9 yrs

Ketan Patel

TITLE
Executive VP
AGE
47
TENURE
1.6 yrs

Jeff Linton

TITLE
Senior Vice President of Corporate Communications

Emily Holiday

TITLE
Executive Vice President of Human Resources
AGE
41
TENURE
1.8 yrs

Deborah Salzberg

TITLE
Executive VP & President of Forest City West Coast Los Angeles
COMPENSATION
$2M
AGE
64
TENURE
5.5 yrs
Board of Directors Tenure

Average tenure and age of the Forest City Realty Trust board of directors in years:

0.7
Average Tenure
58
Average Age
  • The average tenure for the Forest City Realty Trust board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jim Ratner

TITLE
Non-Executive Chairman of the Board
COMPENSATION
$400K
AGE
73
TENURE
2 yrs

David LaRue

TITLE
President
COMPENSATION
$5M
AGE
57
TENURE
7.5 yrs

Rob Schriesheim

TITLE
Independent Director
AGE
57
TENURE
0.7 yrs

Gavin Molinelli

TITLE
Independent Director
AGE
35
TENURE
0.7 yrs

Mark Ordan

TITLE
Independent Director
AGE
59
TENURE
0.7 yrs

Adam Metz

TITLE
Independent Director
AGE
57
TENURE
0.7 yrs

Ken Bacon

TITLE
Independent Director
COMPENSATION
$215K
AGE
63
TENURE
6 yrs

Z. Behar

TITLE
Independent Director
COMPENSATION
$205K
AGE
60
TENURE
1.7 yrs

Butch Roberts

TITLE
Independent Director
AGE
62
TENURE
0.7 yrs

Michelle Felman

TITLE
Independent Director
AGE
55
TENURE
0.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
08. Nov 18 Sell Scopia Capital Management LP Company 05. Nov 18 07. Nov 18 -6,394,287 $25.17 $-160,893,819
05. Nov 18 Sell Scopia Capital Management LP Company 01. Nov 18 02. Nov 18 -2,536,390 $25.16 $-63,822,123
17. Apr 18 Sell Scopia Capital Management LP Company 03. Apr 18 03. Apr 18 -944,637 $19.76 $-18,666,027
17. Apr 18 Buy Scopia Capital Management LP Company 03. Apr 18 03. Apr 18 944,637 $19.76 $18,666,027
04. Apr 18 Buy Starboard Value LP Company 09. Feb 18 28. Mar 18 9,935,000 $22.54 $4,713,273
X
Management checks
We assess Forest City Realty Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Forest City Realty Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

FCE.A News

External News
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Simply Wall St News

Can Forest City Realty Trust Inc's (NYSE:FCE.A) ROE Continue To Surpass The Industry Average?

By way of learning-by-doing, we'll look at ROE to gain a better understanding Forest City Realty Trust Inc (NYSE:FCE.A). … Over the last twelve months Forest City Realty Trust has recorded a ROE of 9.9%. … Check out our latest analysis for Forest City Realty Trust?

Simply Wall St -

How Did Forest City Realty Trust Inc's (NYSE:FCE.A) 9.70% ROE Fare Against The Industry?

and want a simplistic look at the return on Forest City Realty Trust Inc (NYSE:FCE.A) stock. … Forest City Realty Trust Inc (NYSE:FCE.A) delivered an ROE of 9.70% over the past 12 months, which is relatively in-line with its industry average of 7.63% during the same period. … Sustainability can be gauged by a company’s financial leverage – the more debt it has, the higher ROE is pumped up in the short term, at the expense of long term interest payment burden

Simply Wall St -

At US$020.03, Is Forest City Realty Trust Inc (NYSE:FCE.A) A Buy?

Forest City Realty Trust Inc (NYSE:FCE.A), a reits company based in United States,. … Let’s take a look at Forest City Realty Trust’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … 17.06% below my intrinsic value, which means if you buy Forest City Realty Trust today, you’d be paying a

Simply Wall St -

Only 3 Days Left To Forest City Realty Trust Inc (NYSE:FCE.A)’s Ex-Dividend Date, Should You Buy?

Investors who want to cash in on Forest City Realty Trust Inc's (NYSE:FCE.A) upcoming dividend of $0.18 per share have only 3 days left to buy the shares before its ex-dividend date, 07 June 2018, in time for dividends payable on the 22 June 2018. … View our latest analysis for Forest City Realty Trust 5 checks you should use to assess a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Does it pay an annual yield higher than 75% of dividend payers? … NYSE:FCE.A Historical Dividend Yield Jun 3rd 18 Does Forest City Realty Trust pass our checks?

Simply Wall St -

What Is Forest City Realty Trust Inc's (NYSE:FCE.A) Share Price Doing?

Forest City Realty Trust Inc (NYSE:FCE.A), a reits company based in United States, saw significant share price volatility over the past couple of months on the NYSE, rising to the highs of $23.92 and falling to the lows of $19.76. … Let’s take a look at Forest City Realty Trust’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … With profit expected to grow by a double-digit 13.31% over the next couple of years, the outlook is positive for Forest City Realty Trust.

Simply Wall St -

How Should You Analyze REIT Stock Forest City Realty Trust Inc (NYSE:FCE.A)?

Forest City Realty Trust Inc is a US$5.89B mid-cap real estate investment trust (REIT) based in Cleveland, United States. … View our latest analysis for Forest City Realty Trust A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent. … Instead of the P/E ratio, P/FFO is used instead, which is very common for REIT stocks.

Simply Wall St -

Forest City Realty Trust Inc (NYSE:FCE.A): What You Have To Know Before Buying For The Upcoming Dividend

Have you been waiting for Forest City Realty Trust Inc's (NYSE:FCE.A) upcoming dividend of $0.14 per share? … View our latest analysis for Forest City Realty Trust 5 questions to ask before buying a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is their annual yield among the top 25% of dividend payers? … Whilst there are few things you may like about Forest City Realty Trust from a dividend stock perspective, the truth is that overall it probably is not the best choice for a dividend investor.

Simply Wall St -

FCE.A Company Info

Map
Description

Forest City Realty Trust, Inc. is an NYSE-listed national real estate company with $8.6 billion in consolidated assets. The company is principally engaged in the ownership, development, management and acquisition of office, retail and apartment real estate throughout the United States.

Details
Name: Forest City Realty Trust, Inc.
FCE.A
Exchange: NYSE
Founded: 1920
$6,896,695,759
$6,868,553,014
272,273,816
Website: http://www.forestcity.net
Address: Forest City Realty Trust, Inc.
Key Tower, 127 Public Square,
Suite 3100,
Cleveland,
Ohio, 44113,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE FCE.A New Class A Common Stock New York Stock Exchange US USD 02. Jan 1968
Number of employees
Current staff
Staff numbers
1,511
Forest City Realty Trust employees.
Industry
Diversified REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/12/04 22:18
End of day share price update: 2018/12/04 00:00
Last estimates confirmation: 2018/08/01
Last earnings filing: 2018/10/30
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.