FRT
FEDERAL REALTY INVESTMENT TRUSTEvidence as of 2026-09-19The desk's Snapshot
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Overview · FEDERAL REALTY INVESTMENT TRUST
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 communities where retail demand exceeds supply. Its expertise includes c…
Management team
- Ms. Dawn M. Becker · Executive VP, Chief Legal & Administrative Officer and SecretaryFind on LinkedIn
- Mr. Daniel Guglielmone · Executive VP, CFO & TreasurerFind on LinkedIn
- Mr. Donald C. Wood CPA · CEO, President & DirectorFind on LinkedIn
- Mr. Porter Bellew · Senior Vice President & Chief Information OfficerFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.1 on a −2 to +2 scale (was −0.2 before the debate changed the read).
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
The evidence balance is Mixed ( -0.1 of a possible +2; confidence high). Federal Realty reported revenues of $ 341,084,000 in Q1 2026 (fiscal quarter ended 2026-04-28), up from $ 309,154,000 in Q1 2025 (fiscal quarter ended 2025-05-05) and up from $ 311,523,000 in Q2 2025 (fiscal quarter ended 2025-08-01). Operating income rose to $ 208,985,000 in Q1 2026 from $ 108,133,000 in Q1 2025 and was slightly above $ 202,744,000 in Q2 2025, with net income at $ 159,099,000 in Q1 2026 versus $ 63,768,000 in Q1 2025.
Balance-sheet and market metrics are consistent with a low-beta, income-oriented REIT profile: total assets were $ 9,096,770,000 as of 2026-03-31, liabilities $ 5,532,426,000, cash $ 115,633,000, and reported long-term debt $ 4,963,602,000 (year-end long-term debt reported as approximately $ 5.0 billion). Dividend yield (TTM) is 4.08% and the trailing twelve‑month P/E is 22.18; volatility is low (90‑day annualized vol +15.4%, ranking at the 11th percentile of the universe), and beta vs SPY is 0.18.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Federal Realty's reported revenues for the fiscal quarter 2026 Q1 (2026-01-01 to 2026-03-31) were $341,084,000, up from $309,154,000 in the fiscal quarter 2025 Q1 (2025-01-01 to 2025-03-31) and up from $311,523,000 in the fiscal quarter 2025 Q2 (2025-04-01 to 2025-06-30).
XBRL companyfacts · 0000034903-26-000026Operating income increased to $208,985,000 in the fiscal quarter 2026 Q1 (2026-01-01 to 2026-03-31) from $108,133,000 in the fiscal quarter 2025 Q1 (2025-01-01 to 2025-03-31) and was slightly above $202,744,000 in the fiscal quarter 2025 Q2 (2025-04-01 to 2025-06-30).
XBRL companyfacts · 0000034903-26-000026Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
As of December 31, 2025, the company reported approximately $5.0 billion of debt outstanding.
10-K filed 2026-02-12As of December 31, 2025, approximately 82.6% of the company's debt was fixed rate or fixed via interest rate swap agreements (versus approximately 86.7% fixed or fixed-via-swaps as of December 31, 2024 in the prior filing).
10-K filed 2026-02-12Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
Beta vs SPY is 0.18 and correlation vs SPY is 0.14 as of 2026-09-18, indicating low sensitivity to broad-market moves on these measures.
Moneyta signal set · 2026-09-18Momentum signals are mixed as of 2026-09-18: 3-month momentum is -7.0%, 6-month momentum is +6.4%, and the 12_1 momentum measure is +30.9%; the 6-month momentum ranks at the 46th percentile of 561 and the 12_1 momentum ranks at the 71th percentile of 561.
Moneyta signal set · 2026-09-18weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
Institutional 13F-reported holdings totaled $10.25B as of the 13F period ended 2026-06-30.
13F holdings · 620 filers · as of 2026-06-30BlackRock, Inc. is listed as a top 13F holder with $1.25B in reported holdings as of the 13F period ended 2026-06-30.
13F holdings · 620 filers · as of 2026-06-30Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Two outlets published comparison pieces titled 'EPR or FRT: Which Is the Better Value Stock Right Now?' on 17 September 2026, indicating coverage framed around relative valuation between Federal Realty and a peer.
News · finance.yahoo.com · 2026-09-17A transcript of Federal Realty Investment Trust's participation at the Bank of America Global Real Estate Conference was published on 17 September 2026, indicating company management presentation coverage tied to a conference event.
News · gurufocus.com · 2026-09-17Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
No insider transactions on file in the trailing 180 days.
Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The trailing twelve-month price/earnings ratio is 22.18.
Valuation inputs · SEC XBRL + stored EOD closeThe enterprise-value to trailing twelve-month EBITDA multiple is 14.43, with EBITDA (TTM) reported as 1,000,211,000 and enterprise value reported as 14,429,394,839.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
Several high-quality, company-filed items show meaningful quarter-over-quarter and year-over-year improvement in operating performance: revenue, operating income, EPS, and net income all rose in 2026 Q1 versus comparable 2025 periods. Management disclosures and filings indicate a large, well-leased asset base (104 projects, ~28.8M sq ft, 96.1% leased / 94.1% occupied), and market signals show low equity volatility, a dividend yield in the top percentile of the research universe, a recent technical golden-cross, and substantial institutional ownership — all of which jointly support a favorable operational and market-readability interpretation. The debt level is material on an absolute basis, but the filings also show a high proportion of fixed-rate or swap-fixed debt, and balance-sheet point-in-time comparisons show stable assets, liabilities, and a modest increase in cash; these pieces weaken the bear framing that debt alone implies immediate financial fragility. Some of the bear’s strongest points (expanded risk-factor language and headline debt totals) are based on standard REIT disclosures or absolute figures lacking contextual linkage to operating cash flow and occupancy data, reducing the strength of those bearish claims relative to the direct, filed operating improvements and market-position evidence.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.37
34 surviving claims rest on 13 distinct sources; the heaviest analyst carries 18% of them, and 97% of what the desk raised survived the debate.
The surviving set is moderately broad (claims draw on 13 distinct sources) but not immune to analyst concentration and debate bias: one analyst is responsible for a meaningful share of claims and an unusually high 97% survival rate suggests limited pushback removed during review. In short, the read is informative but should be treated as somewhat fragile — corroborating signals from additional independent sources would strengthen confidence.
Peer context · computed, not argued
12-1 momentum ranks 2nd of 5 in REIT—Retail (as of 2026-09-18).
90-day volatility ranks 5th of 5 in REIT—Retail (as of 2026-09-18).
dividend yield ranks 5th of 5 in REIT—Retail (as of 2026-09-18).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
14 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+0.5 to the score
4 documents· 3 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−0.3 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash+0.7 to the score
2 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.4 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on FRT Gold
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Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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