Federal Realty Investment Trust

NYSE:FRT Stock Report

Market Cap: US$9.6b

Federal Realty Investment Trust Valuation

Is FRT undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of FRT when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FRT ($111.92) is trading below our estimate of fair value ($134.77)

Significantly Below Fair Value: FRT is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FRT?

Key metric: As FRT is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for FRT. This is calculated by dividing FRT's market cap by their current earnings.
What is FRT's PE Ratio?
PE Ratio33.4x
EarningsUS$284.44m
Market CapUS$9.58b

Price to Earnings Ratio vs Peers

How does FRT's PE Ratio compare to its peers?

The above table shows the PE ratio for FRT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average29.6x
BRX Brixmor Property Group
25.2x-1.1%US$8.3b
NNN NNN REIT
19.2x2.4%US$7.6b
REG Regency Centers
34.3x4.1%US$13.4b
ADC Agree Realty
39.8x9.7%US$7.2b
FRT Federal Realty Investment Trust
33.4x2.3%US$9.6b

Price-To-Earnings vs Peers: FRT is expensive based on its Price-To-Earnings Ratio (33.4x) compared to the peer average (29.6x).

Price to Earnings Ratio vs Industry

How does FRT's PE Ratio compare vs other companies in the US Retail REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SITC SITE Centers
1.1x-118.9%US$810.57m
RVIC Retail Value
0.2xn/aUS$5.72m
No more companies available in this PE range
FRT 33.4xIndustry Avg. 34.2xNo. of Companies4PE020406080100+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: FRT is good value based on its Price-To-Earnings Ratio (33.4x) compared to the US Retail REITs industry average (34.2x).

Price to Earnings Ratio vs Fair Ratio

What is FRT's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FRT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio33.4x
Fair PE Ratio35x

Price-To-Earnings vs Fair Ratio: FRT is good value based on its Price-To-Earnings Ratio (33.4x) compared to the estimated Fair Price-To-Earnings Ratio (35x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst FRT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$111.92
US$125.63
+12.3%
5.7%US$142.00US$115.00n/a17
Dec ’25US$116.65
US$125.16
+7.3%
5.7%US$142.00US$115.00n/a17
Nov ’25US$110.43
US$124.16
+12.4%
6.1%US$142.00US$115.00n/a17
Oct ’25US$113.41
US$124.15
+9.5%
6.1%US$142.00US$114.50n/a17
Sep ’25US$115.00
US$121.74
+5.9%
6.7%US$142.00US$105.00n/a17
Aug ’25US$112.80
US$115.21
+2.1%
8.0%US$142.00US$104.00n/a17
Jul ’25US$100.42
US$115.08
+14.6%
8.0%US$142.00US$104.00n/a18
Jun ’25US$100.95
US$115.06
+14.0%
8.0%US$142.00US$104.00n/a18
May ’25US$104.28
US$114.61
+9.9%
8.4%US$142.00US$101.00n/a18
Apr ’25US$100.74
US$114.44
+13.6%
8.1%US$142.00US$101.00n/a18
Mar ’25US$99.92
US$113.94
+14.0%
8.7%US$142.00US$95.00n/a18
Feb ’25US$103.24
US$113.17
+9.6%
9.2%US$142.00US$95.00n/a18
Jan ’25US$103.05
US$111.24
+7.9%
10.3%US$142.00US$95.00n/a17
Dec ’24US$97.91
US$108.94
+11.3%
10.8%US$142.00US$93.00US$116.6517
Nov ’24US$91.70
US$109.71
+19.6%
10.6%US$142.00US$93.00US$110.4317
Oct ’24US$90.63
US$112.18
+23.8%
9.5%US$142.00US$95.00US$113.4117
Sep ’24US$98.06
US$113.18
+15.4%
9.1%US$142.00US$95.00US$115.0017
Aug ’24US$101.23
US$111.12
+9.8%
10.0%US$139.00US$93.00US$112.8017
Jul ’24US$96.77
US$109.82
+13.5%
11.1%US$139.00US$91.00US$100.4217
Jun ’24US$87.75
US$111.74
+27.3%
11.0%US$139.00US$91.00US$100.9519
May ’24US$97.68
US$116.56
+19.3%
8.0%US$139.00US$105.00US$104.2818
Apr ’24US$98.83
US$118.00
+19.4%
7.7%US$139.00US$103.00US$100.7418
Mar ’24US$106.63
US$118.72
+11.3%
7.4%US$139.00US$103.00US$99.9218
Feb ’24US$112.04
US$116.59
+4.1%
8.7%US$139.00US$103.00US$103.2419
Jan ’24US$101.04
US$115.80
+14.6%
9.8%US$139.00US$96.00US$103.0519
Dec ’23US$109.02
US$115.59
+6.0%
10.2%US$140.00US$96.00US$97.9119

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 08:18
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Federal Realty Investment Trust is covered by 42 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Christopher LucasBaird
Anthony PowellBarclays
Anthony PowellBarclays