NYSE:FRT

Stock Analysis Report

Federal Realty Investment Trust

Executive Summary

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail based properties located primarily in major coastal markets from Washington, D.C.

Snowflake

Fundamentals

Established dividend payer with mediocre balance sheet.


Similar Companies

Share Price & News

How has Federal Realty Investment Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.0%

NYSE:FRT

1.6%

US REITs

2.9%

US Market


1 Year Return

1.3%

NYSE:FRT

9.9%

US REITs

0.2%

US Market

FRT underperformed the REITs industry which returned 9.1% over the past year.

FRT outperformed the Market in United States of America which returned -0.7% over the past year.


Share holder returns

FRTIndustryMarket
7 Day1.0%1.6%2.9%
30 Day2.8%3.8%-2.3%
90 Day-1.0%3.3%3.1%
1 Year4.6%1.3%14.9%9.9%2.4%0.2%
3 Year-9.0%-17.1%25.0%8.7%41.7%32.4%
5 Year21.5%5.1%59.2%25.3%55.1%37.9%

Price Volatility Vs. Market

How volatile is Federal Realty Investment Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

8%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Federal Realty Investment Trust's share price is below the future cash flow value, but not at a moderate discount (< 20%).

Federal Realty Investment Trust's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Federal Realty Investment Trust is overvalued based on earnings compared to the US REITs industry average.

Federal Realty Investment Trust is overvalued based on earnings compared to the United States of America market.


Price Based on Expected Growth

Federal Realty Investment Trust is poor value based on expected growth next year.


Price Based on Value of Assets

Federal Realty Investment Trust is overvalued based on assets compared to the US REITs industry average.


Next Steps

Future Growth

How is Federal Realty Investment Trust expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

4.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Federal Realty Investment Trust's revenue is expected to grow by 4.8% yearly, however this is not considered high growth (20% yearly).

Federal Realty Investment Trust's earnings are expected to grow by 4.6% yearly, however this is not considered high growth (20% yearly).

Federal Realty Investment Trust's revenue growth is positive but not above the United States of America market average.

Federal Realty Investment Trust's earnings growth is positive but not above the United States of America market average.

Federal Realty Investment Trust's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Federal Realty Investment Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has Federal Realty Investment Trust performed over the past 5 years?

9.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Federal Realty Investment Trust's year on year earnings growth rate has been positive over the past 5 years.

Federal Realty Investment Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Federal Realty Investment Trust's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.


Return on Equity

Federal Realty Investment Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Federal Realty Investment Trust used its assets more efficiently than the US REITs industry average last year based on Return on Assets.


Return on Capital Employed

Federal Realty Investment Trust's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Federal Realty Investment Trust's financial position?


Financial Position Analysis

Federal Realty Investment Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Federal Realty Investment Trust's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Federal Realty Investment Trust's level of debt (119.4%) 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 (132.4% vs 119.4% today).

Debt is not well covered by operating cash flow (15.7%, less than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 3.2x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.1x debt.


Next Steps

Dividend

What is Federal Realty Investment Trust's current dividend yield, its reliability and sustainability?

3.26%

Expected Dividend Yield


Upcoming Dividend Payment

Purchase Federal Realty Investment Trust before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield and Payments Analysis

Federal Realty Investment Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).

Federal Realty Investment Trust's dividend is below the markets top 25% of dividend payers in United States of America (3.85%).

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

Dividends paid are covered by earnings (1.5x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be thoroughly covered by earnings (132.3x coverage).


Next Steps

Management

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

6.3yrs

Average management tenure


CEO

Don Wood (58yo)

16.6yrs

Tenure

US$7,464,182

Compensation

Mr. Donald C. Wood, also known as Don, CPA, has been the President and Chief Executive Officer of Federal Realty Investment Trust since 2000 and January 2003 respectively. Mr. Wood serves as the President  ...


CEO Compensation Analysis

Don's remuneration is lower than average for companies of similar size in United States of America.

Don's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

6.3yrs

Average Tenure

55yo

Average Age

The average tenure for the Federal Realty Investment Trust management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

13.5yrs

Average Tenure

62yo

Average Age

The average tenure for the Federal Realty Investment Trust board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Don Wood (58yo)

    President

    • Tenure: 16.6yrs
    • Compensation: US$7.46m
  • Jeff Berkes (55yo)

    EVP & President of Western Region

    • Tenure: 0.0yrs
    • Compensation: US$968.32k
  • Dawn Becker (55yo)

    Executive VP

    • Tenure: 17.3yrs
    • Compensation: US$1.39m
  • Debbie Colson

    Senior Vice President of Legal Operations

    • Tenure: 14.5yrs
  • Wendy Seher

    Executive VP & Eastern Region President

    • Tenure: 0.0yrs
  • Jan Sweetnam (59yo)

    Executive VP & COO of Western Region

    • Tenure: 3.4yrs
  • Melissa Solis (41yo)

    Chief Accounting Officer & Senior VP

    • Tenure: 8.1yrs
  • Dan Guglielmone (52yo)

    Executive VP

    • Tenure: 3.0yrs
    • Compensation: US$2.02m
  • Porter Bellew

    Chief Information Officer & VP

    • Tenure: 4.5yrs
  • Leah Andress Brady

    Investor Relations Manager

    • Tenure: 3.6yrs

Board Members

  • Joseph Vassalluzzo (71yo)

    Non-Executive Chairman of the Board

    • Tenure: 13.5yrs
    • Compensation: US$273.00k
  • David Faeder (62yo)

    • Tenure: 16.3yrs
    • Compensation: US$200.00k
  • Don Wood (58yo)

    President

    • Tenure: 16.6yrs
    • Compensation: US$7.46m
  • Mark Ordan (60yo)

    Independent Trustee

    • Tenure: 0.5yrs
    • Compensation: US$76.08k
  • Jon Bortz (63yo)

    • Tenure: 14.2yrs
    • Compensation: US$190.00k
  • Gail Steinel (62yo)

    • Tenure: 13.1yrs
    • Compensation: US$210.00k
  • Liz Holland (53yo)

    • Tenure: 2.5yrs
    • Compensation: US$190.00k

Company Information

Federal Realty Investment Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Federal Realty Investment Trust
  • Ticker: FRT
  • Exchange: NYSE
  • Founded: 1962
  • Industry: Retail REITs
  • Sector: Real Estate
  • Implied Market Cap: US$9.868b
  • Market Cap: US$9.814b
  • Shares outstanding: 75.58m
  • Website: https://www.federalrealty.com

Number of Employees


Location

  • Federal Realty Investment Trust
  • 1626 East Jefferson Street
  • Rockville
  • Maryland
  • 20852
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FRTNYSE (New York Stock Exchange)YesCommon SharesUSUSDDec 1972
WX2DB (Deutsche Boerse AG)YesCommon SharesDEEURDec 1972
FRIT *BMV (Bolsa Mexicana de Valores)YesCommon SharesMXMXNDec 1972
0IL1LSE (London Stock Exchange)YesCommon SharesGBUSDDec 1972
FRT.PRCNYSE (New York Stock Exchange)5% CUM PFD CUSUSDSep 2017

Biography

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail based properties located primarily in major coastal markets from Washington, D.C. to Boston as wel ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/21 23:36
End of Day Share Price2019/08/21 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.