Federal Realty Investment Trust (NYSE:FRT) Releases Quarterly Earnings Results

Federal Realty Investment Trust (NYSE:FRT) announced its earnings results on Thursday. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.01), Zacks reports. Federal Realty Investment Trust had a return on equity of 11.12% and a net margin of 27.65%.The firm had revenue of $336.05 million for the quarter, compared to analyst estimates of $327.65 million. During the same quarter last year, the business posted $1.73 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Federal Realty Investment Trust updated its FY 2026 guidance to 7.420-7.520 EPS.

Here are the key takeaways from Federal Realty Investment Trust’s conference call:

• Federal reported strong results and outlook, with Q4 FFO up 6.4%, full-year FFO up 4.3%, and new core FFO guidance of $7.42–$7.52 for 2026 (midpoint ≈ 5.8% core growth), and it introduced a core FFO metric to strip non-recurring items for comparability.
• Leasing momentum is robust: the portfolio is 96.1% leased (94.1% occupied), 2.3M sq ft of comparable deals drove meaningful mark-to-market rent gains and the signed-not-occupied spread contributed roughly $27M of incremental in-place income.
• Active asset recycling and development: the company closed ~1.0M sq ft of acquisitions for $340M (initial cash yield low-7%), completed >$325M of dispositions at low-5% cap rates, and is advancing a residential pipeline (≈780 units, ~$500M pipeline with $280M previously allocated) to capture higher returns and lower capital costs.
• Capital markets headwind from refinancings — management assumes refinancing its 1.25% notes at ~4.25%–4.5%, a ~170–180 bps financing headwind that management estimates reduces 2026 FFO by roughly $0.12 per share versus a no-refi scenario.

Federal Realty Investment Trust Price Performance

FRT traded down $2.20 during trading on Thursday, reaching $104.75. The stock had a trading volume of 1,562,378 shares, compared to its average volume of 796,631. Federal Realty Investment Trust has a 1-year low of $80.65 and a 1-year high of $111.82. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 4.61 and a beta of 1.02. The stock has a 50 day moving average of $101.62 and a two-hundred day moving average of $99.04. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.52.

Analyst Ratings Changes

FRT has been the topic of a number of analyst reports. Mizuho set a $105.00 target price on Federal Realty Investment Trust in a research report on Friday, January 9th. JPMorgan Chase & Co. upgraded Federal Realty Investment Trust from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $107.00 to $114.00 in a report on Thursday, December 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Federal Realty Investment Trust in a research report on Monday, December 29th. Wells Fargo & Company initiated coverage on Federal Realty Investment Trust in a research note on Tuesday, October 21st. They set an “overweight” rating and a $113.00 target price for the company. Finally, Truist Financial lifted their price target on shares of Federal Realty Investment Trust from $105.00 to $109.00 and gave the stock a “hold” rating in a research note on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Federal Realty Investment Trust presently has an average rating of “Moderate Buy” and a consensus price target of $110.30.

Key Headlines Impacting Federal Realty Investment Trust

Here are the key news stories impacting Federal Realty Investment Trust this week:

• Positive Sentiment: Revenue topped estimates and showed year‑over‑year growth, signaling continued demand across Federal Realty’s retail/ground‑lease portfolio. MarketBeat: Listen to Conference Call / Press Release
• Positive Sentiment: Management set FY‑2026 EPS guidance at a range of 7.420–7.520, well above the cited consensus figure in filings — this is a bullish forward signal if results and AFFO/FFO convert to cash flow as forecast. PR Newswire: Q4 & Full‑Year 2025 Results
• Neutral Sentiment: Q4 operating metrics show improvement versus last year (revenue +7.8% y/y, ROE 11.1%, net margin ~27.7%), which supports longer‑term income generation, but investors will watch lease-up and rent trends in upcoming calls. Zacks: Key Metrics for Q4
• Neutral Sentiment: Analyst previews ahead of the print flagged stronger retail demand and rising occupancy but noted interest‑cost pressures — consensus estimates were mixed into the quarter. Benzinga: Earnings Preview
• Negative Sentiment: FFO/adjusted EPS came in slightly below Zacks/Street expectations (FFO $1.84 vs. ~$1.85–1.86 consensus), which can pressure near‑term sentiment for a yield‑oriented REIT. Zacks: Q4 FFO Miss
• Negative Sentiment: Commentary and third‑party pieces raised questions about dividend sustainability and sensitivity to higher rates — a point of focus for income investors given the REIT’s leverage metrics. Investing.com: Can REIT Sustain Dividend?

Institutional Trading of Federal Realty Investment Trust

Hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in shares of Federal Realty Investment Trust by 21.5% during the 1st quarter. Jones Financial Companies Lllp now owns 2,903 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 514 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Federal Realty Investment Trust by 43.1% during the first quarter. Goldman Sachs Group Inc. now owns 612,574 shares of the real estate investment trust’s stock valued at $59,922,000 after acquiring an additional 184,557 shares in the last quarter. Empowered Funds LLC raised its position in Federal Realty Investment Trust by 12.5% during the first quarter. Empowered Funds LLC now owns 3,205 shares of the real estate investment trust’s stock valued at $310,000 after acquiring an additional 355 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Federal Realty Investment Trust in the second quarter valued at approximately $2,895,000. Finally, EverSource Wealth Advisors LLC grew its position in Federal Realty Investment Trust by 18.8% in the second quarter. EverSource Wealth Advisors LLC now owns 690 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 109 shares in the last quarter. 93.86% of the stock is owned by hedge funds and other institutional investors.

About Federal Realty Investment Trust

Federal Realty Investment Trust (NYSE: FRT) is a real estate investment trust specializing in the ownership, management, and redevelopment of high-quality retail, restaurant, and mixed-use properties. With a strategic focus on open-air shopping centers and lifestyle-oriented urban destinations, the company partners with leading national and regional retailers to curate environments that blend shopping, dining, entertainment, office, and residential uses. Its asset management capabilities extend from initial site selection and development through ongoing property operations and tenant relations.

Federal Realty’s portfolio comprises approximately 100 properties totaling more than 25 million square feet of gross leasable area.