Company file · FRT
Federal Realty Investment Trust
Federal Realty Investment Trust's revenue rose 6.4% in FY2025, to $1.3B, and net income rose 39.2% to $411M
Revenue rose 6.4% to $1.3B in FY2025, from $1.2B in FY2024. Net income rose 39.2% to $411M.
Key facts
Federal Realty Investment Trust (NYSE: FRT) closed fiscal 2025 on Dec 31, 2025 with revenue of $1.3B, up 6.4% from a year before; net income came to $411M, up 39.2%. Its newest quarterly report covers the three months to Sep 30, 2026: revenue of $339M, up 5.2% on the same stretch of the prior year, and net income of $66M. Sources: 10-K for fiscal 2025 (filed Feb 12, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Oct 30, 2026).
Source: 10-K FY2025, filed Feb 12, 2026
How it makes money
Federal Realty Investment Trust reported revenue of $1.3B for FY2025, and net income of $411M.
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 2026Q3 2025
Company
Source: Federal Realty Investment Trust 10-Q for the quarter ended Sep 30, 2026, filed Oct 30, 2026
The bull case and the bear case
The bull case
- Revenue rose 6.4% in FY2025 to $1.3B, from $1.2B a year earlier. 10-K, FY2025
- Net income rose 39.2% in FY2025 to $411M, from $295M. 10-K, FY2025
- Operating cash flow rose 8.3% in FY2025 to $622M. 10-K, FY2025
- Revenue in the quarter ended Sep 30, 2026 was $339M, up 5.2% on a year earlier. 10-Q, quarter ended Sep 30, 2026
The bear case
- Diluted shares rose 3.4% in FY2025, which spreads profit across more shares. 10-K, FY2025
- Total debt rose 10.5% in FY2025 to $4.9B. 10-K, FY2025
- The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include interest rates; occupancy and rents; property markets. 10-K, Item 1A
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Federal Realty Investment Trust is in the retail REITs industry, part of the real estate sector. The SEC files it under Real Estate Investment Trusts.
The full description of Federal Realty Investment Trust's business is in Item 1 of its 10-K, linked below. This page shows its revenue in total only, because its tagged data has no breakdown that adds up to total revenue.
Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the retail REITs industry. They are not a summary of Federal Realty Investment Trust’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- Interest ratesHigher rates raise borrowing costs and can lower property values.
- Occupancy and rentsVacancies, tenant defaults and weaker rents reduce income.
- Property marketsLocal supply, demand and values vary by market and property type.
- Capital and developmentAcquisitions and developments need financing and may not earn what was planned.
- Regulation and taxesProperty, zoning and tax rules, including the rules for REIT status, affect results.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $1.1B | $1.2B | $1.3B |
| Net income | $237M | $295M | $411M |
| Operating cash flow | $556M | $575M | $622M |
| Cash & equivalents (year end) | $251M | $123M | $107M |
| Total debt (year end) | $4.6B | $4.5B | $4.9B |
| Diluted shares | 81M | 84M | 86M |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Total debt: Debt and finance lease obligations, including the part due within one year, at carrying value, as the company totals it.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- The cash flow statement
- Risk factors (Item 1A)
- Debt-to-equity ratio
- Net debt and net cash
- Segment reporting
- Accrual accounting vs. cash
- What a P/E ratio is
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
What we left out
- Revenue by segment, product or region: the company's XBRL data has no breakdown that adds up to total revenue, so none is shown. The 10-K has its own segment note.
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Oct 30, 2026 | Sep 30, 2026 |
| 10-Q | Jul 31, 2026 | Jun 30, 2026 |
| 10-Q | May 1, 2026 | Mar 31, 2026 |
| DEF 14A | Mar 27, 2026 | May 6, 2026 |
| 10-K | Feb 12, 2026 | Dec 31, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about Federal Realty Investment Trust
How does Federal Realty Investment Trust make money?
Fiscal 2025 revenue: $1.3B. Federal Realty Investment Trust reported revenue of $1.3B for FY2025, and net income of $411M. Source: 10-K for fiscal 2025, filed Feb 12, 2026.
What was Federal Realty Investment Trust's revenue in fiscal 2025?
$1.3B, up 6.4% from fiscal 2024 ($1.2B). The year ended Dec 31, 2025; for fiscal 2023 the figure was $1.1B. Source: 10-K for fiscal 2025, filed Feb 12, 2026.
Is Federal Realty Investment Trust profitable?
Net income was $411M in fiscal 2025 (up 39.2%; fiscal 2024 was $295M). That counts as a GAAP profit. The latest quarter, ended Sep 30, 2026: net income was $66M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 12, 2026.
What did Federal Realty Investment Trust report in its latest quarterly filing?
For the three months to Sep 30, 2026: revenue $339M (up 5.2% from $322M) and net income $66M (up 7.3% from $62M). Source: 10-Q for the quarter ended Sep 30, 2026, filed Oct 30, 2026.
What are the main risks Federal Realty Investment Trust faces?
Federal Realty Investment Trust's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 12, 2026. Risks that are common among companies in the retail REITs industry include Interest rates; occupancy and rents; property markets; capital and development; regulation and taxes. The first: Higher rates raise borrowing costs and can lower property values. Source: 10-K, Item 1A Risk Factors.
Where do these Federal Realty Investment Trust numbers come from?
The 10-K filed Feb 12, 2026 (fiscal 2025) and the 10-Q filed Oct 30, 2026 (quarter ended Sep 30, 2026), as published in the SEC's XBRL data. Click any number to open the filing it came from. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning Federal Realty Investment Trust
- Two Sigma Investments: 379,633 shares, reported value $46.9M at Jun 30, 2026 (+63.0% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Citadel Advisors: 310,169 shares, reported value $38.3M at Jun 30, 2026 (+1,324.2% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
- Renaissance Technologies: 113,600 shares, reported value $14.0M at Jun 30, 2026 (+694.4% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 13, 2026.
- Point72 Asset Management: 32,911 shares, reported value $4.1M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in FRT
- The editor holds no position in Federal Realty Investment Trust (FRT). As of Nov 11, 2026.
- Trading rule
- The editor does not buy or sell FRT from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 10, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold FRT, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| Federal Realty Investment TrustFRT | FY2025 | $1.3B | +6.4% | $411M |
| Simon Property GroupSPG | FY2025 | $6.4B | +6.7% | $5.4B |
| Realty IncomeO | FY2025 | $5.7B | +9.1% | $1.1B |
| Kimco RealtyKIM | FY2025 | $2.1B | +5.1% | $585M |
| Regency CentersREG | FY2025 | $1.6B | +6.9% | $527M |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.