FRT
Federal Realty Investment TrustReal Estate / REIT - RetailINTACTFederal Realty Investment Trust 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. 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 destinationssuch 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 103 properties include approximately 3,700 tenants in 28.8 million commercial square feet, and approximately 2,500 residential units. Federal Realty has increased its quarterly dividends to its shareholders for 59 consecutive years, the longest record in the REIT industry. Federal Realty Investment Trust is based in North Bethesda, Maryland. Federal Realty Investment Trust was incorporated in 1962 in Maryland.
Price vs. Intrinsic Value Corridor
Overvalued vs DCF ($110.68)Historical market price overlaid against conservative DCF Fair Value & Benjamin Graham Margin of Safety bands.
2-Stage Discounted Cash Flow (DCF) Workbench
Conservative intrinsic value model based on owner cash generation over a 10-year investment horizon. Opens with LocalAlpha's baseline assumptions (matching the fair value shown above) — adjust any input to stress-test.
| Year | Yr 1 | Yr 2 | Yr 3 | Yr 4 | Yr 5 | Yr 6 | Yr 7 | Yr 8 | Yr 9 | Yr 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Projected FCF ($M) | $536 | $630 | $740 | $869 | $1,021 | $1,067 | $1,115 | $1,165 | $1,218 | $1,273 |
| Present Value (PV) | $492 | $530 | $571 | $616 | $664 | $636 | $610 | $585 | $561 | $538 |
Benjamin Graham & Buffett Value Models
Classical deep value metrics based on asset backing, normalized earnings power, and owner cash yield.
Calculated as √(22.5 × EPS × BVPS). The maximum theoretical price a defensive investor should pay based purely on asset book value and current earnings.
Formula: V = (EPS × (8.5 + 2g) × 4.4) / Y where g is the conservative 7-10 yr growth rate and Y is AAA Bond Yield.
True distributable cash flow: Net Income + D&A - Maintenance CapEx. Reflects the cash Buffett would extract without hurting unit volume.
Reverse DCF: Market Growth Expectation
MODEST BARRIERAt the current price of $114.36, the market is assuming the business will compound Free Cash Flow at 6.7% per year for the next decade with a 9% hurdle rate.
Surveil FRT with Mathematical Margin of Safety Rules
Set non-negotiable floor rules for Federal Realty Investment Trust. If a newly filed quarterly 10-Q breaks your ROIC floor, operating margin boundary, or balance sheet leverage rules, receive an autonomous breach audit within 15 minutes.
ROIC > 15% • Margin > 15% • D/E < 0.5x
Current Margin 35% • Floor > 10%
Altman-Z > 2.6 • Current Ratio > 1.5x
Frequently Asked Questions: Federal Realty Investment Trust (FRT) Intrinsic Valuation
Audited fundamentals, DCF intrinsic value sensitivity, and thesis break detection parameters for Federal Realty Investment Trust.
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