Federal Realty
Owns and redevelops U.S. shopping centers and retail-led mixed-use destinations.
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Profile
Owns, manages, and redevelops U.S. shopping centers and retail-led mixed-use destinations, earning primarily from leases to retail, apartment, and office tenants. Concentrates on densely populated, affluent markets and reports the entire portfolio as one segment.
Owns, manages, acquires, and redevelops community and neighborhood shopping centers plus retail-led mixed-use destinations across major U.S. coastal markets and selected underserved regions. The portfolio includes grocery-anchored centers and destinations such as Santana Row, Pike & Rose, and Assembly Row, with apartments and offices integrated into some properties.
Earns primarily through tenant leases. Active leasing, tenant-mix curation, renovation, retenanting, redevelopment, and adding residential or office space to retail sites support property income and long-term value.
Performance depends on tenant demand and rent collection, occupancy, redevelopment approvals and execution, and access to financing. REIT tax status also requires compliance with distribution and operating rules; all operations are in the United States and are reported as one segment.
Company facts
Key statistics
Year to date +17.9% · Average volume (30d) 815.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 17, 2026 | Barclays | Reiterate | Equal Weight | $120 | $123 |
| Jul 23, 2026 | Wells Fargo | Reiterate | Overweight | $129 | $134 |
| Jul 21, 2026 | Piper Sandler | Reiterate | Overweight | $127 | $149 |
| Jul 9, 2026 | UBS | Reiterate | Neutral | $130 | $127 |
| Jul 8, 2026 | Wolfe Research | Initiate | Outperform | $143 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 31, 2026Q2 FY26 | $0.72 | $0.97 | +35.1% | $331.9M | $325.9M | −1.8% | 0.00% |
| May 1, 2026Q1 FY26 | $0.70 | $1.88 | +167.4% | $332.1M | $332.7M | +0.2% | −0.74% |
| Feb 12, 2026Q4 FY25 | $0.74 | $1.84 | +149.3% | $328.6M | $327.5M | −0.3% | +0.05% |
| Oct 31, 2025Q3 FY25 | $1.76 | $1.77 | +0.6% | $327.7M | $322.9M | −1.5% | −0.53% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $309.2M | $311.5M | $322.9M | $336.0M | $341.1M | $335.7M | |
| Gross profit | $204.8M | $213.2M | $217.2M | $30.7M | $241.9M | $232.1M | |
| Operating income | $108.1M | $202.7M | $110.7M | $115.6M | $116.3M | $118.0M | |
| Net income | $63.8M | $155.9M | $61.6M | $129.7M | $159.1M | $85.7M | |
| Diluted EPS | $0.72 | $1.78 | $0.69 | $1.51 | $1.83 | $0.99 | |
| Gross margin | 66.2% | 68.4% | 67.3% | 9.1% | 70.9% | 69.1% | |
| Operating margin | 35.0% | 65.1% | 34.3% | 34.4% | 34.1% | 35.2% |
Fiscal years (4-quarter sums)FY21 $951.2M · FY22 $1.07B · FY23 $1.13B · FY24 $1.20B · FY25 $1.28B
Balance sheet, Jun 30, 2026Cash & short-term investments −$107.2M · Total debt $4.85B · Total assets $9.06B · Shareholders' equity $3.36B
Dividends
Raised for 37 straight years — most recently to $1.13 from $1.10 in Oct 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 1, 2026 | Jul 1 | Jul 15 | $1.13 | |
| Apr 1, 2026 | Apr 1 | Apr 15 | $1.13 | |
| Jan 2, 2026 | Jan 2 | Jan 15 | $1.13 | |
| Oct 1, 2025 | Oct 1 | Oct 15 | $1.13 | raised from $1.10 |
| Jul 1, 2025 | Jul 1 | Jul 15 | $1.10 | |
| Apr 1, 2025 | Apr 1 | Apr 15 | $1.10 | |
| Jan 2, 2025 | Jan 2 | Jan 15 | $1.10 | |
| Oct 1, 2024 | Oct 1 | Oct 15 | $1.10 | raised from $1.09 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 86.39M · Float 78.45M · 90.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 10.15M | 11.75% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 7.17M | 8.31% | 13F | Aug 13, 2026 |
| State Street Corp | 6.35M | 7.35% | 13F | Aug 7, 2026 |
| Norges Bank | 5.59M | 6.48% | 13F | Aug 12, 2026 |
| Vanguard Capital Management LLC | 5.41M | 6.26% | 13F | Aug 13, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Regency Centers
Grocery-anchored suburban centers overlap core leasing markets
- Kimco Realty
Scale peer in open-air, grocery-anchored and mixed-use centers
- Brixmor Property Group
National open-air centers compete for value and grocery tenants
- Kite Realty Group
Sun Belt open-air and mixed-use centers contest growth markets
- Phillips Edison
Grocery-anchored neighborhood centers overlap necessity retail
- Acadia Realty Trust
Street and open-air retail overlaps high-barrier urban assets
- Urban Edge Properties
Urban corridor shopping centers overlap Northeast retail markets
- Simon Property Group
Premier retail destinations compete for experiential tenants
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Federal Realty | $116.75 | −0.01% | $10.09B | 23.3 | 37.7 | 7.6 | +4.6% |
| Regency Centers | $75.52 | +0.01% | $13.79B | 21.4 | 29.9 | 8.0 | +5.8% |
| Kimco Realty | $23.78 | +0.02% | $16.03B | 26.7 | 27.8 | 7.3 | +4.1% |
| Brixmor Property Group | $29.17 | −0.02% | $8.95B | 20.8 | 28.0 | 6.4 | +4.2% |
| Kite Realty Group | $26.00 | 0.00% | $5.21B | 16.1 | 65.4 | 6.4 | −9.4% |
| Phillips Edison | $40.00 | +2.43% | $5.02B | 34.0 | 49.5 | 6.7 | +3.8% |
| Acadia Realty Trust | $20.72 | −0.05% | $2.85B | 60.1 | 66.4 | 7.0 | −9.4% |
| Urban Edge Properties | $21.39 | 0.00% | $2.70B | 40.0 | 46.4 | 5.4 | +7.5% |
| Simon Property Group | $214.38 | −0.07% | $69.58B | 15.2 | 32.0 | 10.0 | +10.8% |
| Median | 24.1 | 39.2 | 6.9 | +4.1% |