Federal Realty Investment Trust
Market Cap
US$6.8b
Last Updated
2021/01/23 23:12 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. More Details
Rewards
Risk Analysis
Snowflake Analysis
6 star dividend payer and slightly overvalued.
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 is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 11% a week.
Volatility Over Time: FRT's weekly volatility (11%) has been stable over the past year.
Market Performance
7 Day Return
1.4%
FRT
1.1%
US REITs
2.3%
US Market
1 Year Return
-31.8%
FRT
-10.6%
US REITs
23.8%
US Market
Return vs Industry: FRT underperformed the US REITs industry which returned -10.6% over the past year.
Return vs Market: FRT underperformed the US Market which returned 23.7% over the past year.
Shareholder returns
| FRT | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.4% | 1.1% | 2.3% |
| 30 Day | 2.3% | 1.7% | 4.8% |
| 90 Day | 15.4% | 5.6% | 14.5% |
| 1 Year | -28.5%-31.8% | -6.4%-10.6% | 26.6%23.8% |
| 3 Year | -19.1%-27.7% | 25.2%9.8% | 45.0%35.4% |
| 5 Year | -30.5%-41.3% | 52.7%21.4% | 126.2%101.0% |
Long-Term 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
5 days ago | Simply Wall St
How Many Federal Realty Investment Trust (NYSE:FRT) Shares Have Insiders Sold, In The Last Year?1 month ago | Simply Wall St
What We Learned About Federal Realty Investment Trust's (NYSE:FRT) CEO Pay2 months ago | Simply Wall St
A Look At Federal Realty Investment Trust's (NYSE:FRT) Share Price ReturnsValuation
Is Federal Realty Investment Trust undervalued compared to its fair value and its price relative to the market?
30.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FRT ($88.53) is trading below our estimate of fair value ($127.33)
Significantly Below Fair Value: FRT is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FRT's PE Ratio (38.1x) is in line with the US REITs industry average.
PE vs Market: FRT is poor value based on its PE Ratio (38.1x) compared to the US market (21.3x).
Price to Earnings Growth Ratio
PEG Ratio: FRT is poor value based on its PEG Ratio (2.1x)
Price to Book Ratio
PB vs Industry: FRT is overvalued based on its PB Ratio (3.1x) compared to the US REITs industry average (1.6x).
Next Steps
Future Growth
How is Federal Realty Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
18.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FRT's forecast earnings growth (18.3% per year) is above the savings rate (2%).
Earnings vs Market: FRT's earnings (18.3% per year) are forecast to grow slower than the US market (21.6% per year).
High Growth Earnings: FRT's earnings are forecast to grow, but not significantly.
Revenue vs Market: FRT's revenue (6.2% per year) is forecast to grow slower than the US market (10.6% per year).
High Growth Revenue: FRT's revenue (6.2% 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 (7.8%).
Next Steps
Past Performance
How has Federal Realty Investment Trust performed over the past 5 years?
3.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FRT has a large one-off gain of $40.4M impacting its September 30 2020 financial results.
Growing Profit Margin: FRT's current net profit margins (20.7%) are lower than last year (27.2%).
Past Earnings Growth Analysis
Earnings Trend: FRT's earnings have grown by 3.6% per year over the past 5 years.
Accelerating Growth: FRT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: FRT had negative earnings growth (-30.8%) over the past year, making it difficult to compare to the REITs industry average (2.9%).
Return on Equity
High ROE: FRT's Return on Equity (7.1%) is considered low.
Next Steps
Financial Health
How is Federal Realty Investment Trust's financial position?
Financial Position Analysis
Short Term Liabilities: FRT's short term assets ($1.3B) exceed its short term liabilities ($426.7M).
Long Term Liabilities: FRT's short term assets ($1.3B) do not cover its long term liabilities ($4.7B).
Debt to Equity History and Analysis
Debt Level: FRT's debt to equity ratio (173%) is considered high.
Reducing Debt: FRT's debt to equity ratio has increased from 130.1% to 173% over the past 5 years.
Debt Coverage: FRT's debt is not well covered by operating cash flow (8.7%).
Interest Coverage: FRT's interest payments on its debt are not well covered by EBIT (2.1x coverage).
Balance Sheet
Next Steps
Dividend
What is Federal Realty Investment Trust current dividend yield, its reliability and sustainability?
4.79%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FRT's dividend (4.79%) is higher than the bottom 25% of dividend payers in the US market (1.38%).
High Dividend: FRT's dividend (4.79%) is in the top 25% of dividend payers in the US market (3.85%)
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: At its current payout ratio (85.6%), FRT's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: FRT's dividends in 3 years are forecast to be covered by earnings (74.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
5.9yrs
Average management tenure
CEO
Don Wood (59 yo)
18yrs
Tenure
US$7,630,858
Compensation
Mr. Donald C. Wood, also known as Don, CPA, has been the President and Chief Executive Officer of Federal Realty Investment Trust since 2003. Mr. Wood serves as the President and Chief Executive Officer of...
CEO Compensation Analysis
Compensation vs Market: Don's total compensation ($USD7.63M) is about average for companies of similar size in the US market ($USD6.22M).
Compensation vs Earnings: Don's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 18yrs | US$7.63m | 0.56% $ 38.2m | |
| Executive VP | 4.42yrs | US$1.81m | 0.039% $ 2.6m | |
| Executive VP | 18.75yrs | US$1.50m | 0.18% $ 12.2m | |
| Chief Accounting Officer & Senior VP | 9.5yrs | no data | no data | |
| Chief Information Officer & VP | 5.92yrs | no data | no data | |
| Senior Manager of Investor Relations | 5yrs | no data | no data | |
| Senior Vice President of Mixed-Use Initiatives & Corporate Communications | 0.92yr | no data | no data | |
| Executive VP & President of Western Region | no data | US$968.32k | no data | |
| Senior Vice President of Legal Operations | 15.92yrs | no data | no data | |
| Executive VP & Eastern Region President | no data | no data | no data | |
| Executive VP & COO of Western Region | 4.83yrs | no data | no data | |
| Senior Vice President of Development | 5.92yrs | no data | no data |
5.9yrs
Average Tenure
56yo
Average Age
Experienced Management: FRT's management team is seasoned and experienced (5.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 18yrs | US$7.63m | 0.56% $ 38.2m | |
| Independent Non-Executive Chairman | 14.92yrs | US$273.70k | 0.034% $ 2.3m | |
| Independent Trustee | 17.75yrs | US$200.00k | 0.017% $ 1.1m | |
| 1.92yrs | US$174.05k | 0.0029% $ 198.8k | ||
| Independent Trustee | 15.58yrs | US$190.00k | 0.017% $ 1.2m | |
| Independent Trustee | 14.5yrs | US$210.00k | 0.016% $ 1.1m | |
| Member of Board of Trustees | 0.33yr | no data | 0.00062% $ 41.9k | |
| Member of Board of Trustees | 0.33yr | no data | 0.00062% $ 41.9k | |
| Independent Trustee | 3.92yrs | US$195.10k | 0.0054% $ 365.2k |
14.5yrs
Average Tenure
62yo
Average Age
Experienced Board: FRT's board of directors are seasoned and experienced ( 14.5 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
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$6.763b
- Market Cap: US$6.697b
- Shares outstanding: 76.39m
- Website: https://www.federalrealty.com
Number of Employees
Location
- Federal Realty Investment Trust
- 909 Rose Avenue
- Suite 200
- North Bethesda
- 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 | |
| F1RI34 | BOVESPA (Bolsa de Valores de Sao Paulo) | BDR EACH 4 REPR 1 COM | BR | BRL | Jan 2020 |
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
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/23 23:12 |
| End of Day Share Price | 2021/01/22 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.