{ "ok": true, "cik": "34903", "ticker": "FRT", "name": "FEDERAL REALTY INVESTMENT TRUST", "filings": [ { "form": "8-K", "filed": "2026-08-11", "items": [ "1.01 Entry into a Material Definitive Agreement", "2.03 Creation of a Direct Financial Obligation", "3.02 Unregistered Sales of Equity Securities", "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/34903/000119312526344547/0001193125-26-344547-index.htm" }, { "form": "10-Q", "filed": "2026-07-31", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/34903/000003490326000042/0000034903-26-000042-index.htm" }, { "form": "8-K", "filed": "2026-07-31", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/34903/000003490326000040/0000034903-26-000040-index.htm" }, { "form": "8-K", "filed": "2026-05-06", "items": [ "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/34903/000003490326000031/0000034903-26-000031-index.htm" }, { "form": "10-Q", "filed": "2026-05-01", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/34903/000003490326000026/0000034903-26-000026-index.htm" }, { "form": "8-K", "filed": "2026-05-01", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/34903/000003490326000025/0000034903-26-000025-index.htm" } ], "events12m": 9, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 1, "latest": { "filed": "2025-11-10", "url": "https://www.sec.gov/Archives/edgar/data/34903/000003490325000065/0000034903-25-000065-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000034903.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=34903" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up FEDERAL REALTY INVESTMENT TRUST ($FRT). Last filing: 8-K (1.01 Entry into a Material Definitive Agreement), 2026-08-11. 9 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 1278975000, "revenueGrowth1y": 0.06363913070958338, "revenueGrowthPerYear": 0.07682421720516097, "yearsOfData": 5, "operatingMargin": 0.4708450126077523, "operatingMarginPrior": 0.39282732283700306, "netMargin": 0.33124025098223187, "operatingCashFlow": 622378000, "capitalSpending": null, "freeCashFlow": null, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 107415000, "longTermDebt": 4963602000, "longTermDebtChange": 0.10382625217825248, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 951224000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 1074378000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 1132154000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 1202452000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 1278975000 } ], "totalEquity": 3248731000, "totalAssets": 9130460000, "equityRatio": 0.35581241251809875, "returnOnEquity": 0.13040414857370464, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": 4.46, "dividendYearsRising": 13, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 4.68, "sharesOutstanding": 86405000, "bookValuePerShare": 37.598877379781264, "revenuePerShare": 14.802094786181355, "range80": { "low": 1212632095.849346, "high": 1451643812.1239076, "baseline": 1357930052.8290927, "n": 4599, "band": "b1", "bandLabel": "$1B–10B", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.03208296838299645, "classVolatility": 0.07701947805587882, "volatility": 0.058997105269090744 }, "ifPaceHeld": { "low": 1212632095.849346, "high": 1451643812.1239076 } }, "edgarette": "🔖 Exposure: revenue $1.3B (FY2025), total debt $5.0B. Experience: revenue up 6.4% on the year, up 7.7% a year over 4 years; operating margin 47.1%, up from 39.3%. Soundness: equity 35.6% of assets, return on equity 13.0%, dividend per share up 13 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $1.2B and $1.5B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $1.1B to $1.6B. A statistical range, not company guidance. Against peers (79 filers, $50M+ revenue, real estate investment trusts): operating margin 47.1% against a 24.7% median; growth 6.4% against 3.7%.", "peers": { "sic": 6798, "sicDescription": "Real Estate Investment Trusts", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6798", "growth": [ 0.0366, 157 ], "opMargin": [ 0.2474, 79 ], "equityRatio": [ 0.3883, 154 ], "returnOnEquity": [ 0.0254, 128 ], "payoutRatio": [ 1.5128, 81 ] }, "summary": "Federal Realty Investment Trust (FRT) grew revenue 6.4% in FY2025 to $1.3 billion, operating margin 47.1% against a 24.7% median for real estate investment trusts, equity 35.6% of assets, and dividend per share up 13 years running. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
FEDERAL REALTY INVESTMENT TRUST against its own record and its peers
Operating marginPeer median 24.7%47.1%Revenue, on the yearPeer median 3.7%6.4%Equity of assetsPeer median 38.8%35.6%Return on equityPeer median 2.5%13.0%Gold tick: the median of 128–154 peers with $50M+ revenue in real estate investment trusts
", "chartHorizon": "
Handed back now, or kept to compound
Of each dollar of profitHanded back per share$4.46up 13 years runningRevenue growth it managed6.4%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 14, "hits": 12, "rate": 0.8571428571428571, "method": "v4", "byYear": { "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 0, 1 ], "2021": [ 0, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:33:40.232Z", "hash": "a1733262159e4f5d", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Federal Realty Investment Trust (FRT) grew revenue 6.4% in FY2025 to $1.3 billion, operating margin 47.1% against a 24.7% median for real estate investment trusts, equity 35.6% of assets, and dividend per share up 13 years running. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 1278975000, "totalDebt": 4963602000, "cash": 107415000 }, "experience": { "revenueGrowth1y": 0.06363913070958338, "revenueGrowthPerYear": 0.07682421720516097, "operatingMargin": 0.4708450126077523, "operatingMarginPrior": 0.39282732283700306, "netMargin": 0.33124025098223187, "freeCashFlow": null }, "soundness": { "equityRatio": 0.35581241251809875, "returnOnEquity": 0.13040414857370464, "payoutRatio": null, "dividendPerShare": 4.46, "dividendYearsRising": 13, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 6798, "sicDescription": "Real Estate Investment Trusts", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "6798", "growth": [ 0.0366, 157 ], "opMargin": [ 0.2474, 79 ], "equityRatio": [ 0.3883, 154 ], "returnOnEquity": [ 0.0254, 128 ], "payoutRatio": [ 1.5128, 81 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 1, "latest": { "filed": "2025-11-10", "url": "https://www.sec.gov/Archives/edgar/data/34903/000003490325000065/0000034903-25-000065-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 1212632095.849346, "high": 1451643812.1239076, "baseline": 1357930052.8290927, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4599, "sizeBand": "$1B–10B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.03208296838299645, "classVolatility": 0.07701947805587882, "pricedVolatility": 0.058997105269090744, "k": 3 }, "stress": { "low": 1135520469.7087035, "high": 1550321295.4273312, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 14, "hits": 12, "rate": 0.8571428571428571, "method": "v4", "byYear": { "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 0, 1 ], "2021": [ 0, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:33:40.232Z", "hash": "a1733262159e4f5d", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000034903.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=34903" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.4866, "growth3y": 0.0598, "volatility": 0.0321, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.3558, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "between", "inside": "Turns 48.7% of revenue into operating cash; revenue growing 6.0% a year over three years; no common dividend.", "outside": "Among $1B-10B companies: 94th percentile for cash, 56th for growth.", "emoji": "🌊", "label": "In between", "plain": "no clear cash pattern yet" }, "band": "$1B-10B", "cashPctInClass": 94, "growthPctInClass": 56, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 622378000, "investing": -743068000, "financing": 102953000, "capitalSpending": null, "free": null, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 471352000, "free": null }, { "fiscalYearEnd": "2022-12-31", "operating": 516769000, "free": null }, { "fiscalYearEnd": "2023-12-31", "operating": 555830000, "free": null }, { "fiscalYearEnd": "2024-12-31", "operating": 574563000, "free": null }, { "fiscalYearEnd": "2025-12-31", "operating": 622378000, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 107415000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 9130460000, "ladder": null, "currentRatio": null, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.4866, "growth3y": 0.0598, "volatility": 0.0321, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.3558, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "between", "inside": "Turns 48.7% of revenue into operating cash; revenue growing 6.0% a year over three years; no common dividend.", "outside": "Among $1B-10B companies: 94th percentile for cash, 56th for growth.", "emoji": "🌊", "label": "In between", "plain": "no clear cash pattern yet" }, "band": "$1B-10B", "cashPctInClass": 94, "growthPctInClass": 56, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 622378000, "investing": -743068000, "financing": 102953000, "capitalSpending": null, "free": null, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 471352000, "free": null }, { "fiscalYearEnd": "2022-12-31", "operating": 516769000, "free": null }, { "fiscalYearEnd": "2023-12-31", "operating": 555830000, "free": null }, { "fiscalYearEnd": "2024-12-31", "operating": 574563000, "free": null }, { "fiscalYearEnd": "2025-12-31", "operating": 622378000, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 107415000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 9130460000, "ladder": null, "currentRatio": null, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }