Federal Realty Investment Trust (FRT)

Over the past six months, Federal Realty's stock has experienced some fluctuations. As of June 18, 2025, the share price was $95.62, reflecting a 5.33% decline from June 20, 2024, when it was $101.00. The stock has underperformed the S&P500 Index by -14.67% over the last six months and was trading -8.76% below its 200-day moving average as of its last closing price of $97.95. Key events impacting the stock include strong Q1 2025 results, the sale of Levare Apartments at Santana Row, the acquisition of Del Monte Shopping Center in Monterey, analyst downgrades from JPMorgan and UBS, and strong financial results for the full year ended December 31, 2024.

While specific detailed information on demand seasonality for Federal Realty's products and services is not extensively provided, the nature of its retail-based properties suggests some seasonal influence. The company noted that its occupancy dipped slightly quarter-over-quarter in Q1 2025, which was likely seasonal. Generally, the retail real estate sector can experience increased foot traffic and sales during holiday shopping seasons, which could indirectly influence demand for leasing spaces. Federal Realty's strategy of focusing on high-income, high-density urban markets and grocery-anchored centers aims to provide stable demand for its properties. Furthermore, the subdued new construction activity in U.S. shopping centers suggests minimal supply risk, which could positively impact demand for existing properties like those in Federal Realty's portfolio.

Federal Realty Investment Trust operates within the Real Estate sector, specifically in the Residential & Commercial REITs industry, and is categorized under Real Estate Investment Trusts (REIT - Equity Trust Retail). The company acquires and develops premium retail properties, including regional, community, and neighborhood shopping centers, often anchored by grocery stores, as well as mixed-use developments that integrate retail with office, residential, and hotel components. As of late 2023 and early 2024, Federal Realty owns between 104 and 106 properties, encompassing approximately 10.4 to 10.5 million square feet of retail space and around 3,100 to 3,200 residential units. Key projects in their portfolio include Santana Row in San Jose, California; Pike & Rose in North Bethesda, Maryland; and Assembly Row in Somerville, Massachusetts. Their diverse tenant base is composed of approximately 25% grocery stores, 12% fitness centers, 18% restaurants, and 45% specialty retail, with major tenants including Whole Foods, Trader Joe's, CVS, and Starbucks.

Federal Realty's geographic footprint is concentrated in major coastal markets across 11 states and Washington D.C., including the Washington D.C. Metro Area, Boston Metropolitan Region, San Francisco Bay Area, New York Tri-State Area, parts of Northern and Southern California, the Northeast and Mid-Atlantic regions of the United States, and South Florida. Over 90% of their assets are situated in 15 high-income, high-growth markets, such as Manhattan, San Francisco, and Boston.

Federal Realty Investment Trust has a strong brand reputation due to its long-term asset ownership, robust tenant base, and commitment to sustainable property development. The company is a "Dividend King" with a record of increasing quarterly dividends for 54 to 57 consecutive years, appealing to income-focused investors. Federal Realty released its 2024 Sustainability Report, highlighting a 35% reduction in Scope 1 and 2 greenhouse gas emissions and possessing 15.3MW of onsite solar generating capacity. However, the company has an overall negative sustainability impact ratio of -20.5%, primarily due to contributions to GHG Emissions and Waste, despite positive impacts in areas like Taxes, Jobs, and Societal Infrastructure. Recent positive sentiment has been generated by strong Q1 2025 earnings, while some negative sentiment has arisen from analyst downgrades related to growth concerns.

Federal Realty Investment Trust has a significant institutional ownership base, with 996 to 1,001 institutional owners and shareholders holding a total of approximately 86.0 million to 86.4 million shares, accounting for 96.70% of the company's shares. The largest institutional shareholders include Vanguard Group Inc., BlackRock, Inc., State Street Corp, Resolution Capital Ltd, Invesco Ltd., and Jpmorgan Chase & Co.