Federal Realty Investment Trust (FRT) Research

Forward Estimates

EPS Estimates

Current Qtr

$0.70

$0.65$0.73

vs $1.78-60.5%

6 analysts

Next Qtr

$0.71

$0.66$0.74

vs $0.69+3.1%

6 analysts

Current Yr

$3.67

$2.71$4.06

vs $4.75-22.7%

7 analysts

Next Yr

$3.10

$2.70$3.35

vs $3.67-15.7%

7 analysts

Revenue Estimates

Current Qtr

$330.93M

$324.00M$338.35M

vs $311.25M+6.3%

7 analysts

Next Qtr

$339.07M

$332.00M$342.75M

vs $321.97M+5.3%

7 analysts

Current Yr

$1.36B

$1.34B$1.37B

vs $1.28B+6.2%

8 analysts

Next Yr

$1.42B

$1.37B$1.47B

vs $1.36B+4.9%

8 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for FRT on EDGAR.

FRT filing events and research context
Filed	Item	Context
Feb 12, 2026	business	Federal Realty Investment Trust is an equity REIT specializing in the ownership, management, and redevelopment of high-quality retail and mixed-use properties, primarily located in affluent, densely populated coastal markets. As of December 31, 2025, the portfolio comprised approximately 28.8 million commercial square feet across 104 projects, maintaining a 94.1% occupancy rate. Revenue is primarily lease-driven, supporting a 58-year streak of consecutive annual dividend increases. The company focuses on high-barrier-to-entry markets, utilizing a strategy of acquiring, renovating, and retenanting properties to drive internal growth and capital appreciation. To mitigate the impact of online retailing, the Trust emphasizes unique, community-centric experiences and a diversified tenant mix of national, regional, and local specialty tenants. Financing strategies prioritize an investment-grade balance sheet through prudent leverage, variable-rate debt management, and the use of at-the-market equity programs and unsecured borrowings. Key operational risks include macroeconomic volatility—specifically inflation, interest rate fluctuations, and tariffs—alongside the long-term necessity of managing climate change resilience.
Feb 12, 2026	mda	Federal Realty Investment Trust operates 104 predominantly retail projects, including community shopping centers and mixed-use properties, totaling 28.8 million commercial square feet across 14 states and the District of Columbia. The portfolio is geographically concentrated in California, Maryland, and Virginia. In 2025, the company realized a 15% average rental increase on comparable space leases, driven by a 19% increase in new leases and a 12% increase in renewals. Anchor tenant space remains stable at 97.3% leased and 95.5% occupied. Financially, the company carries $5.0 billion in outstanding debt, with 82.6% fixed or hedged via interest rate swaps to mitigate volatility, while $1.4 billion remains variable. Primary risks include the structural shift toward online shopping—which management mitigates by positioning brick-and-mortar sites as showrooms and distribution hubs—and the potential for anchor tenant insolvency. Additionally, the company faces risks from geographic concentration in coastal markets and the strict distribution requirements necessary to maintain its REIT status. Operational stability is further pressured by climate change and cybersecurity threats, although no material cybersecurity incidents have been reported.
Feb 12, 2026	risk_factors	Federal Realty Investment Trust (FRT) specializes in retail and mixed-use properties in major coastal and select underserved markets, owning 104 projects comprising 28.8 million square feet with a 96.1% leased rate. Key macroeconomic risks impacting FRT include persistent inflation, rising interest rates, supply chain disruptions, and potential tariffs. These factors elevate interest, material, and operating costs, while threatening to delay tenant build-outs and subsequent rent commencement. Operationally, FRT is executing major development projects, including Phase IV at Pike & Rose ($180–$190 million), Santana West ($325–$335 million), and a residential project at Santana Row ($140–$148 million), alongside $304 million in active redevelopments. In 2025, FRT expanded its portfolio with $752.8 million in acquisitions, including Del Monte Shopping Center and Annapolis Town Center, while divesting $315.7 million in assets. Financially, FRT manages $4.9 billion in net debt, with $652.4 million maturing within twelve months. To address these maturities, FRT plans to draw on a new $250 million term loan in early 2026. The trust remains exposed to interest rate fluctuations, as a 1.0% increase in market rates would raise annual interest expenses by approximately $8.7 million on its $865 million variable-rate debt.

Filed

Item

Context

Feb 12, 2026

business

Federal Realty Investment Trust is an equity REIT specializing in the ownership, management, and redevelopment of high-quality retail and mixed-use properties, primarily located in affluent, densely populated coastal markets. As of December 31, 2025, the portfolio comprised approximately 28.8 million commercial square feet across 104 projects, maintaining a 94.1% occupancy rate. Revenue is primarily lease-driven, supporting a 58-year streak of consecutive annual dividend increases. The company focuses on high-barrier-to-entry markets, utilizing a strategy of acquiring, renovating, and retenanting properties to drive internal growth and capital appreciation. To mitigate the impact of online retailing, the Trust emphasizes unique, community-centric experiences and a diversified tenant mix of national, regional, and local specialty tenants. Financing strategies prioritize an investment-grade balance sheet through prudent leverage, variable-rate debt management, and the use of at-the-market equity programs and unsecured borrowings. Key operational risks include macroeconomic volatility—specifically inflation, interest rate fluctuations, and tariffs—alongside the long-term necessity of managing climate change resilience.

Feb 12, 2026

mda

Federal Realty Investment Trust operates 104 predominantly retail projects, including community shopping centers and mixed-use properties, totaling 28.8 million commercial square feet across 14 states and the District of Columbia. The portfolio is geographically concentrated in California, Maryland, and Virginia. In 2025, the company realized a 15% average rental increase on comparable space leases, driven by a 19% increase in new leases and a 12% increase in renewals. Anchor tenant space remains stable at 97.3% leased and 95.5% occupied. Financially, the company carries $5.0 billion in outstanding debt, with 82.6% fixed or hedged via interest rate swaps to mitigate volatility, while $1.4 billion remains variable. Primary risks include the structural shift toward online shopping—which management mitigates by positioning brick-and-mortar sites as showrooms and distribution hubs—and the potential for anchor tenant insolvency. Additionally, the company faces risks from geographic concentration in coastal markets and the strict distribution requirements necessary to maintain its REIT status. Operational stability is further pressured by climate change and cybersecurity threats, although no material cybersecurity incidents have been reported.

Feb 12, 2026

risk_factors

Federal Realty Investment Trust (FRT) specializes in retail and mixed-use properties in major coastal and select underserved markets, owning 104 projects comprising 28.8 million square feet with a 96.1% leased rate. Key macroeconomic risks impacting FRT include persistent inflation, rising interest rates, supply chain disruptions, and potential tariffs. These factors elevate interest, material, and operating costs, while threatening to delay tenant build-outs and subsequent rent commencement. Operationally, FRT is executing major development projects, including Phase IV at Pike & Rose ($180–$190 million), Santana West ($325–$335 million), and a residential project at Santana Row ($140–$148 million), alongside $304 million in active redevelopments. In 2025, FRT expanded its portfolio with $752.8 million in acquisitions, including Del Monte Shopping Center and Annapolis Town Center, while divesting $315.7 million in assets. Financially, FRT manages $4.9 billion in net debt, with $652.4 million maturing within twelve months. To address these maturities, FRT plans to draw on a new $250 million term loan in early 2026. The trust remains exposed to interest rate fluctuations, as a 1.0% increase in market rates would raise annual interest expenses by approximately $8.7 million on its $865 million variable-rate debt.

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FRT filing events and research context

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