Federal Realty Investment Trust (NYSE:FRT) Releases Earnings Results, Beats Estimates By $0.02 EPS

Federal Realty Investment Trust (NYSE:FRT) issued its quarterly earnings data on Friday. The real estate investment trust reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02, Zacks reports. Federal Realty Investment Trust had a net margin of 32.67% and a return on equity of 13.65%. The business had revenue of $339.02 million for the quarter, compared to analysts’ expectations of $336.57 million. During the same period in the previous year, the business earned $1.77 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis.

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

• Strong third-quarter performance: FFO per share was $1.87, up nearly 6% year over year, while adjusted comparable cash NOI increased 4%. Federal Realty raised its 2026 core FFO guidance to $7.54–$7.58 per share and expects more than 7% annual FFO growth.
• Leasing momentum remained robust, with a 14% cash rent spread on comparable deals, a 96.5% lease rate, and 93.8% physical occupancy. Approximately $42 million of signed-but-not-open rent is expected to provide a meaningful tailwind through 2027 and 2028.
• The recently acquired Summit property in Birmingham adds 870,000 square feet and 116 tenants to the central region. Management expects more than 5% annual NOI growth over five years, mid- to high-teens mark-to-market potential on expiring leases, and strong retailer demand.
• Management repurchased roughly 870,000 shares for about $95 million at an average price below $109, citing an implied FFO yield above 7%. The company said the buybacks were funded alongside the Summit acquisition while maintaining nearly $1 billion of liquidity after these capital allocation actions.
• Higher interest rates are increasing refinancing and development costs, with management indicating that future refinancing assumptions may be roughly 50 basis points less favorable. About $680 million of debt matures in mid-to-late 2027, and more than $600 million of asset sales are being pursued to support capital recycling, though most are not expected to close until 2027.

Federal Realty Investment Trust Stock Down 1.1%

FRT traded down $1.25 during midday trading on Friday, hitting $110.19. 2,254,146 shares of the company’s stock traded hands, compared to its average volume of 890,585. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.70 and a quick ratio of 1.70. The company has a market cap of $9.52 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.70 and a beta of 0.93. The stock’s fifty day simple moving average is $111.13 and its 200-day simple moving average is $112.88. Federal Realty Investment Trust has a one year low of $90.03 and a one year high of $128.21.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FRT. Weiss Ratings downgraded Federal Realty Investment Trust from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 1st. Mizuho reduced their price objective on Federal Realty Investment Trust from $130.00 to $117.00 and set an “outperform” rating for the company in a research note on Thursday, September 24th. Piper Sandler decreased their price objective on Federal Realty Investment Trust from $149.00 to $131.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Evercore set a $123.00 target price on Federal Realty Investment Trust in a research note on Monday, September 21st. Finally, Scotiabank dropped their target price on Federal Realty Investment Trust from $128.00 to $126.00 and set a “sector outperform” rating on the stock in a report on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.62.

Insider Transactions at Federal Realty Investment Trust

In other news, Director Nicole Lamb-Hale sold 1,500 shares of the stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $108.89, for a total transaction of $163,335.00. Following the transaction, the director owned 4,613 shares of the company’s stock, valued at approximately $502,309.57. This represents a 24.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

About Federal Realty Investment Trust

Federal Realty Investment Trust is a self-administered and self-managed real estate investment trust that owns, operates and redevelops high-quality retail and mixed-use properties. Its portfolio includes shopping centers, street retail, and mixed-use developments that combine retail, residential, office and hospitality uses.

The company focuses on densely populated, affluent communities and prominent locations in major metropolitan markets. Its properties are concentrated in regions including the Northeast, Mid-Atlantic, California and South Florida, and are leased to a broad range of retailers, restaurants, service providers and other commercial tenants.

Founded in 1962, Federal Realty has developed and managed properties designed to serve both local communities and national retailers.