Real Estate · Retail REITs · US stock · price as of 16 Oct 2026
Key indicators
Price
$106.32
52-week range
$86.33 – $126.84
Market cap
$9.2B
P/E (trailing)
18.1×
EV / EBITDA
8.4×
Free-cash-flow yield
6.8%
Dividend yield
4.3%
Revenue (last 12 months)
$1.3B
Revenue growth (3y a year)
6.0%
Operating margin
53.6%
Return on invested capital
17.0%
Net debt / EBITDA
–
Fair value
Fair value is not shown for this company.
X-Ray Score
65/ 100 · Low confidence · ahead of 90% of sector peers
Valuation94
Growth57
Profitability70
Financial health50
Dividends28
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Federal Realty Investment Trust is a real estate investment trust that owns, operates and redevelops shopping centers and mixed-use properties, mainly in affluent coastal markets of the United States. Tenants include grocery stores, restaurants, fitness operators and other retailers. The trust earns most of its revenue from rent and tenant reimbursements for property expenses, and it adds value by renovating centers and re-leasing space.
Revenue over the last twelve months was $1.3 billion, and it expanded at 6.0% a year across three years. The business shows an operating margin of 53.6% and a return on invested capital of 17%. Shareholders receive a dividend, yielding 4.3%. These readings summarise reported results and do not forecast future performance.
StocksXray gives Federal Realty Investment Trust an X-Ray Score of 65 out of 100 (low confidence), ahead of 90% of the S&P 500 stocks in its sector. Its strongest lens is valuation (94) and its weakest is dividends (28).
XStocksXray
Federal Realty Investment Trust (FRT)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$111.23
$86.03
$91.66
$102.73
$96.66
$106.32
Market cap
$8.6B
$6.9B
$7.5B
$8.6B
$8.4B
$9.2B
P/E
34.1×
18.3×
32.7×
30.0×
20.7×
18.1×
EV / revenue
13.2×
10.5×
10.5×
10.8×
10.4×
7.0×
EV / EBITDA
18.7×
13.6×
16.3×
16.0×
13.7×
8.5×
Price / free cash flow
18.3×
13.4×
13.4×
14.9×
13.4×
14.7×
Free-cash-flow yield
5.5%
7.5%
7.5%
6.7%
7.5%
6.8%
Price / book
3.3×
2.3×
2.5×
2.7×
2.6×
2.8×
Dividend yield
3.83%
5.00%
4.73%
4.26%
4.61%
4.28%
Fundamentals checklist ● 4 Good · ● 4 Average · ● 1 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−1.3%Bad
Risk models
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)−0.2%Average
Revenue growth (3y)6.0%Average
Growth consistency100%Good
Balance sheet
Interest cover3.7×Average
Valuation
EBIT / EV yield7.6%Good
Profitability
Return on invested capital17.0%Good
Operating margin53.6%Good
XStocksXray
Federal Realty Investment Trust (FRT)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
951
1,074
1,132
1,202
1,279
1,311
Gross profit
–
–
–
–
–
–
Operating income
395
526
406
472
602
703
Net income
261
385
237
295
411
506
Diluted EPS ($)
3.26
4.71
2.80
3.42
4.68
5.86
Free cash flow
471
517
556
575
622
628
Gross margin
–
–
–
–
–
–
Operating margin
41.5%
49.0%
35.9%
39.3%
47.1%
53.6%
Net margin
27.5%
35.9%
20.9%
24.6%
32.1%
38.6%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
7,622
8,234
8,437
8,525
9,130
9,097
Cash
162
86
251
123
107
116
Total debt
4,063
4,344
4,616
4,497
4,964
–
Equity
2,581
2,954
2,964
3,172
3,249
3,311
Dividend per share ($)
4.26
4.30
4.34
4.38
4.46
4.49
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.