Federal Realty Investment Trust
Market Cap
US$9.9b
Last Updated
2020/01/23 23:40 UTC
Data Sources
Company Financials +
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.
Rewards
Risk Analysis
No risks detected for FRT from our risk checks.
Snowflake Analysis
Solid track record established dividend payer.
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
Stable Share Price: FRT has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
1.4%
FRT
0.9%
US REITs
0.6%
US Market
1 Year Return
3.5%
FRT
18.9%
US REITs
24.6%
US Market
Return vs Industry: FRT underperformed the US REITs industry which returned 17.9% over the past year.
Return vs Market: FRT underperformed the US Market which returned 24.7% over the past year.
Shareholder returns
| FRT | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.4% | 0.9% | 0.6% |
| 30 Day | 3.3% | 3.9% | 3.0% |
| 90 Day | -5.7% | 0.1% | 10.6% |
| 1 Year | 6.7%3.5% | 23.8%18.9% | 27.3%24.6% |
| 3 Year | 2.4%-6.9% | 35.5%18.4% | 50.5%40.8% |
| 5 Year | 3.0%-11.1% | 46.8%16.5% | 78.9%59.1% |
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
3 weeks ago | Simply Wall St
Why Federal Realty Investment Trust's (NYSE:FRT) CEO Pay Matters To You2 months ago | Simply Wall St
Federal Realty Investment Trust Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions3 months ago | Simply Wall St
Can Federal Realty Investment Trust (NYSE:FRT) Maintain Its Strong Returns?Valuation
Is Federal Realty Investment Trust undervalued compared to its fair value and its price relative to the market?
22.6%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FRT ($127.67) is trading below our estimate of fair value ($169.49)
Significantly Below Fair Value: FRT is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FRT is good value based on its PE Ratio (38.5x) compared to the REITs industry average (38.6x).
PE vs Market: FRT is poor value based on its PE Ratio (37.7x) compared to the US market (18.9x).
Price to Earnings Growth Ratio
PEG Ratio: FRT is poor value based on its PEG Ratio (6.7x)
Price to Book Ratio
PB vs Industry: FRT is overvalued based on its PB Ratio (4.2x) compared to the US REITs industry average (2x).
Next Steps
Future Growth
How is Federal Realty Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
5.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FRT's forecast earnings growth (5.6% per year) is above the savings rate (1.7%).
Earnings vs Market: FRT's earnings (5.6% per year) are forecast to grow slower than the US market (14.3% per year).
High Growth Earnings: FRT's earnings are forecast to grow, but not significantly.
Revenue vs Market: FRT's revenue (3.6% per year) is forecast to grow slower than the US market (7.5% per year).
High Growth Revenue: FRT's revenue (3.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: FRT's Return on Equity is forecast to be low in 3 years time (9.4%).
Next Steps
Past Performance
How has Federal Realty Investment Trust performed over the past 5 years?
8.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FRT has high quality earnings.
Growing Profit Margin: FRT's current net profit margins (27.1%) are higher than last year (25.4%).
Past Earnings Growth Analysis
Earnings Trend: FRT's earnings have grown by 8.3% per year over the past 5 years.
Accelerating Growth: FRT's earnings growth over the past year (10%) exceeds its 5-year average (8.3% per year).
Earnings vs Industry: FRT earnings growth over the past year (10%) exceeded the REITs industry 8.1%.
Return on Equity
High ROE: FRT's Return on Equity (9.9%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Federal Realty Investment Trust's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: FRT has a high level of physical assets or inventory.
Debt Coverage by Assets: FRT's debt is not covered by short term assets (assets are 0.2x debt).
Financial Institutions Analysis
Asset Level: FRT's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if FRT has a sufficient allowance for bad loans.
Low Risk Liabilities: FRT reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if FRT has an acceptable proportion of non-loan assets held.
Low Risk Deposits: FRT has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if FRT has an appropriate level of bad loans.
Next Steps
Dividend
What is Federal Realty Investment Trust's current dividend yield, its reliability and sustainability?
3.20%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: FRT's dividend (3.29%) is higher than the bottom 25% of dividend payers in the US market (1.4%).
High Dividend: FRT's dividend (3.29%) is low compared to the top 25% of dividend payers in the US market (3.66%).
Stability and Growth of Payments
Stable Dividend: FRT's dividends per share have been stable in the past 10 years.
Growing Dividend: FRT's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (66.9%), FRT's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: FRT's dividends in 3 years are forecast to be thoroughly covered by earnings (0.8% payout ratio).
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?
6.7yrs
Average management tenure
CEO
Don Wood (58yo)
17yrs
Tenure
US$7,464,182
Compensation
Mr. Donald C. Wood, also known as Don, CPA, has been the President and Chief Executive Officer of Federal Realty Investment Trust since 2000 and January 2003 respectively. Mr. Wood serves as the President ...
CEO Compensation Analysis
Compensation vs Market: Don's total compensation ($USD7.46M) is below average for companies of similar size in the US market ($USD10.76M).
Compensation vs Earnings: Don's compensation has been consistent with company performance over the past year.
Management Age and Tenure
6.7yrs
Average Tenure
55yo
Average Age
Experienced Management: FRT's management team is seasoned and experienced (6.7 years average tenure).
Board Age and Tenure
13.9yrs
Average Tenure
62yo
Average Age
Experienced Board: FRT's board of directors are seasoned and experienced ( 13.9 years average tenure).
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Don Wood (58yo)
President
- Tenure: 17yrs
- Compensation: US$7.46m
Jeff Berkes (55yo)
EVP & President of Western Region
- Compensation: US$968.32k
Dawn Becker (55yo)
Executive VP
- Tenure: 17.8yrs
- Compensation: US$1.39m
Debbie Colson
Senior Vice President of Legal Operations
- Tenure: 14.9yrs
Wendy Seher
Executive VP & Eastern Region President
Jan Sweetnam (59yo)
Executive VP & COO of Western Region
- Tenure: 3.8yrs
Melissa Solis (41yo)
Chief Accounting Officer & Senior VP
- Tenure: 8.5yrs
Dan Guglielmone (52yo)
Executive VP
- Tenure: 3.4yrs
- Compensation: US$2.02m
Porter Bellew
Chief Information Officer & VP
- Tenure: 4.9yrs
Leah Andress Brady
Investor Relations Manager
- Tenure: 4yrs
Board Members
Joseph Vassalluzzo (71yo)
Non-Executive Chairman of the Board
- Tenure: 13.9yrs
- Compensation: US$273.00k
David Faeder (62yo)
Independent Trustee
- Tenure: 16.8yrs
- Compensation: US$200.00k
Don Wood (58yo)
President
- Tenure: 17yrs
- Compensation: US$7.46m
Mark Ordan (60yo)
Independent Trustee
- Tenure: 0.9yrs
- Compensation: US$76.08k
Jon Bortz (63yo)
Independent Trustee
- Tenure: 14.6yrs
- Compensation: US$190.00k
Gail Steinel (62yo)
Independent Trustee
- Tenure: 13.5yrs
- Compensation: US$210.00k
Liz Holland (53yo)
Independent Trustee
- Tenure: 2.9yrs
- 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$9.944b
- Market Cap: US$9.899b
- Shares outstanding: 76.15m
- Website: https://www.federalrealty.com
Number of Employees
Location
- Federal Realty Investment Trust
- 1626 East Jefferson Street
- Rockville
- Maryland
- 20852
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| FRT | NYSE (New York Stock Exchange) | Yes | Common Shares | US | USD | Dec 1972 |
| WX2 | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Dec 1972 |
| FRIT * | BMV (Bolsa Mexicana de Valores) | Yes | Common Shares | MX | MXN | Dec 1972 |
| 0IL1 | LSE (London Stock Exchange) | Yes | Common Shares | GB | USD | Dec 1972 |
| FRT.PRC | NYSE (New York Stock Exchange) | 5% CUM PFD C | US | USD | Sep 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 well as San Francisco and Los Angeles. Founded in 1962, Federal Realty's mission is to deliver long term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 104 properties include approximately 3,000 tenants, in 24 million square feet, and over 2,600 residential units. Federal Realty has increased its quarterly dividends to its shareholders for 52 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/01/23 23:40 |
| End of Day Share Price | 2020/01/23 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.