Federal Realty Investment Trust FRT
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets and select underserved regions with strong economic and demographic fundamentals. Founded in 1962, Federal Realty's mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. This includes a portfolio of open-air shopping centers and mixed-use destinations—such as Santana Row, Pike & Rose and Assembly Row—which together reflect the company's ability to create distinctive, high-performing environments that serve as vibrant destinations for their communities. Federal Realty's 104 properties include approximately 3,800 tenants in 29.0 million commercial square feet, and approximately 2,500 residential units. Federal Realty has increased its quarterly dividends to its shareholders for 58 consecutive years, the longest record in the REIT industry. The company is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT.
Snapshot
Reported FFO / Core FFO / leverage are from the Q1 2026 earnings release (filed 2026-05-01) — 8-K, EX-99.1.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $1.28B | $411.08M | $367.84M | $972.60M | $622.38M |
| 2024 | $1.20B | $295.21M | $342.60M | $822.41M | $574.56M |
| 2023 | $1.13B | $236.99M | $321.76M | $736.79M | $555.83M |
| 2022 | $1.07B | $385.49M | $302.41M | $835.06M | $516.77M |
| 2021 | $951.22M | $261.50M | $279.98M | $676.75M | $471.35M |
| 2020 | $835.49M | $131.71M | $255.03M | $527.20M | $369.93M |
Dividends
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-07-01 | 2026-07-01 | 2026-07-15 | 2026-05-01 | $1.13 | Quarterly |
| 2026-04-01 | 2026-04-01 | 2026-04-15 | 2026-02-12 | $1.13 | Irregular |
| 2026-01-02 | 2026-01-02 | 2026-01-15 | 2025-10-31 | $1.13 | Quarterly |
| 2025-10-01 | 2025-10-01 | 2025-10-15 | 2025-08-06 | $1.13 | Quarterly |
| 2025-07-01 | 2025-07-01 | 2025-07-15 | 2025-05-08 | $1.10 | Quarterly |
| 2025-04-01 | 2025-04-01 | 2025-04-15 | 2025-02-13 | $1.10 | Irregular |
| 2025-01-02 | 2025-01-02 | 2025-01-15 | 2024-10-30 | $1.10 | Quarterly |
| 2024-10-01 | 2024-10-01 | 2024-10-15 | 2024-08-01 | $1.10 | Quarterly |
| 2024-06-21 | 2024-06-21 | 2024-07-15 | 2024-05-02 | $1.09 | Quarterly |
| 2024-03-12 | 2024-03-13 | 2024-04-15 | 2024-02-12 | $1.09 | Quarterly |
| 2023-12-29 | 2024-01-02 | 2024-01-16 | 2023-11-02 | $1.09 | Quarterly |
| 2023-09-21 | 2023-09-22 | 2023-10-16 | 2023-08-02 | $1.09 | Quarterly |
| 2023-06-21 | 2023-06-22 | 2023-07-17 | 2023-05-04 | $1.08 | Quarterly |
| 2023-03-10 | 2023-03-13 | 2023-04-17 | 2023-02-08 | $1.08 | Quarterly |
| 2022-12-30 | 2023-01-03 | 2023-01-17 | 2022-11-03 | $1.08 | Quarterly |
| 2022-09-21 | 2022-09-22 | 2022-10-17 | 2022-08-04 | $1.08 | Quarterly |
| 2022-06-21 | 2022-06-22 | 2022-07-15 | 2022-05-05 | $1.07 | Quarterly |
| 2022-03-15 | 2022-03-16 | 2022-04-15 | 2022-02-10 | $1.07 | Quarterly |
| 2021-12-31 | 2022-01-03 | 2022-01-18 | 2021-11-04 | $1.07 | Quarterly |
| 2021-09-21 | 2021-09-22 | 2021-10-15 | 2021-08-04 | $1.07 | Quarterly |
| 2021-06-21 | 2021-06-22 | 2021-07-15 | 2021-05-05 | $1.06 | Quarterly |
| 2021-03-15 | 2021-03-16 | 2021-04-15 | 2021-02-11 | $1.06 | Quarterly |
| 2020-12-31 | 2021-01-04 | 2021-01-15 | 2020-11-05 | $1.06 | Quarterly |
| 2020-09-21 | 2020-09-22 | 2020-10-15 | 2020-08-05 | $1.06 | Quarterly |
Coverage (payout of operating cash flow): 62.35%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.