Analyst Consensus ?
ConsensusBuy32 ratings
Bullish1753.1%
Neutral1443.8%
Bearish13.1%
Federal Realty Investment Trust · FRT · FY2025 Q4 · Calendar Q1 2026
Federal Realty posts strong Q4 while flagging refinancing headwinds
The call supports a measured version of the growth thesis: resilient leasing, rent bumps, residential development, and asset recycling provide support for continued earnings growth. Evidence against a stronger conclusion includes refinancing pressure, tenant-credit exposure, lease timing, and uncertainty around acquisition and development execution.
Reported After market closeNYSEReal Estate
$9.49B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.84
Consensus $0.74
EPS surprise
+149.3%
Reported versus consensus
Reported revenue
$327.5M
Consensus $328.6M
Revenue surprise
-0.3%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+0.0%
Event window
SPY move
+0.1%
Same window
Abnormal move
-0.0%
Stock minus SPY
Volume
1.7×
Versus trailing sessions
Subsequent drift
+1.5%
Up to 20 sessions
FRTSPY benchmark
Ask FN2 about FRT FY2025 Q4
Transcript, numbers and history already loaded
Why did FRT rise 0.0% after beating EPS estimates in FY2025 Q4?What changed in FRT's guidance and outlook in FY2025 Q4?Give me the bull and bear case for FRT after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, management moved from raised guidance to maintained 2026 guidance, while providing a Core FFO framework targeting $7.42-$7.52 per share. The current analysis also emphasizes occupancy above 96%, 6.4% Q4 FFO growth, a larger residential-development focus, and a quantified refinancing headwind.
Guidance delta
Maintained: 2026 guidance targets near 6% overall FFO growth, with Core FFO of $7.42-$7.52 per share.
Key takeaways
- Q4 FFO grew 6.4% year over year, with occupancy around 96% and record leasing activity.
- Management highlighted residential additions to retail assets, asset recycling, and acquisitions as growth avenues.
- The balance of the outlook is constructive, but refinancing, tenant credit, and lease timing are material watchpoints.
Management priorities
- Complete and lease up the Blayr at Bala Cynwyd, 301 Washington Street Hoboken, and Lot 12 at Santana Row projects.
- Advance the Willow Grove redevelopment and other residential projects adjacent to retail assets.
- Recycle assets, pursue dominant shopping-center acquisitions, and refinance maturing debt.
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Beat
Miss
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Analyst 52W Price Targets
$109.83Current
$105Low
$123.81Average
$149High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Mizuho | Outperform | Outperform | Maintain | Sep 24, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Sep 21, 2026 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Sep 17, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Sep 4, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 17, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Aug 5, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 23, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Jul 21, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 9, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jun 29, 2026 |
| Truist Securities | Hold | Hold | Maintain | Jun 8, 2026 |
| Stifel | Hold | Hold | Maintain | Feb 13, 2026 |
| Jefferies | Buy | Hold | Upgrade | Dec 16, 2025 |
| Raymond James | Outperform | Outperform | Maintain | May 23, 2025 |
| Deutsche Bank | Buy | Hold | Upgrade | Apr 22, 2024 |
| Credit Suisse | Neutral | Neutral | Maintain | Feb 9, 2023 |
| Compass Point | Buy | Neutral | Upgrade | Jan 30, 2023 |
| Capital One | Overweight | Equal Weight | Upgrade | Feb 9, 2022 |
| BMO Capital | Outperform | Market Perform | Upgrade | Dec 1, 2021 |
| SunTrust Robinson Humphrey | Hold | Buy | Downgrade | Jul 21, 2020 |
| Odeon Capital | Buy | Buy | Maintain | Apr 8, 2020 |
| Stifel Nicolaus | Buy | Buy | Maintain | Dec 24, 2019 |
| Sandler O'Neill | Hold | Buy | Downgrade | Nov 1, 2019 |
| Bank of America | Buy | Buy | Maintain | Aug 13, 2018 |
| DA Davidson | Buy | Neutral | Upgrade | Jun 25, 2018 |
| Boenning & Scattergood | Neutral | Outperform | Downgrade | Oct 3, 2016 |
| BTIG Research | Neutral | Neutral | Maintain | Aug 25, 2016 |
| RBC Capital | Underperform | Sector Perform | Downgrade | May 6, 2016 |
| ISI Group | Neutral | Buy | Downgrade | Jun 9, 2014 |
| Imperial Capital | In Line | In Line | Maintain | May 12, 2014 |
| McNicoll Lewis Vlak | Buy | Buy | Maintain | Nov 18, 2013 |
| Evercore Partners | Equal Weight | Equal Weight | Maintain | Mar 27, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $109.83. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Richard Hightower | $118 | $110.52 | +7.4% | Sep 28, 2026 |
| UBS | Analyst unavailable | $117 | $109.39 | +6.5% | Sep 24, 2026 |
| Evercore ISI | Analyst unavailable | $123 | $110.64 | +12.0% | Sep 21, 2026 |
| Scotiabank | Analyst unavailable | $126 | $112.09 | +14.7% | Sep 17, 2026 |
| Barclays | Analyst unavailable | $123 | $118.39 | +12.0% | Aug 17, 2026 |
| Wells Fargo | Analyst unavailable | $134 | $125.05 | +22.0% | Jul 23, 2026 |
| Piper Sandler | Analyst unavailable | $149 | $125.59 | +35.7% | Jul 21, 2026 |
| UBS | Analyst unavailable | $127 | $120.43 | +15.6% | Jul 9, 2026 |
| Wolfe Research | Analyst unavailable | $143 | $121.68 | +30.2% | Jul 8, 2026 |
| Evercore ISI | Analyst unavailable | $122 | $122.61 | +11.1% | Jul 7, 2026 |
| Raymond James | Analyst unavailable | $135 | $125.02 | +22.9% | Jun 29, 2026 |
| Truist Financial | Ki Bin Kim | $118 | $123.3 | +7.4% | Jun 5, 2026 |
| Mizuho Securities | Analyst unavailable | $130 | $119.63 | +18.4% | Jun 1, 2026 |
| UBS | Analyst unavailable | $130 | $119.63 | +18.4% | Jun 1, 2026 |
| Deutsche Bank | Omotayo Okusanya | $135 | $121.02 | +22.9% | May 29, 2026 |
| Barclays | Richard Hightower | $120 | $120.16 | +9.3% | May 27, 2026 |
| Wells Fargo | Analyst unavailable | $129 | $119.75 | +17.5% | May 26, 2026 |
| Scotiabank | Analyst unavailable | $128 | $114.71 | +16.5% | May 19, 2026 |
| UBS | Analyst unavailable | $118 | $114.6 | +7.4% | May 18, 2026 |
| Barclays | Analyst unavailable | $116 | $115.42 | +5.6% | May 12, 2026 |
| Evercore ISI | Analyst unavailable | $110 | $115.02 | +0.2% | May 4, 2026 |
| Evercore ISI | Steve Sakwa | $107 | $104.8 | -2.6% | Feb 17, 2026 |
| Piper Sandler | Alexander Goldfarb | $127 | $104.8 | +15.6% | Feb 17, 2026 |
| Stifel Nicolaus | Simon Yarmak | $111 | $104.75 | +1.1% | Feb 13, 2026 |
| UBS | Analyst unavailable | $113 | $101.68 | +2.9% | Jan 14, 2026 |
| Barclays | Analyst unavailable | $107 | $101.5 | -2.6% | Jan 13, 2026 |
| Mizuho Securities | Analyst unavailable | $105 | $102.8 | -4.4% | Jan 9, 2026 |
| Stifel Nicolaus | Simon Yarmak | $109.5 | $102.12 | -0.3% | Dec 18, 2025 |
| Jefferies | Linda Tsai | $115 | $100.89 | +4.7% | Dec 15, 2025 |
| Truist Financial | Analyst unavailable | $109 | $98.32 | -0.8% | Dec 2, 2025 |
| Evercore ISI | Analyst unavailable | $105 | $96.19 | -4.4% | Nov 3, 2025 |
| Stifel Nicolaus | Simon Yarmak | $104.5 | $96.68 | -4.9% | Oct 31, 2025 |
| Evercore ISI | Analyst unavailable | $106 | $98.03 | -3.5% | Oct 17, 2025 |
| Deutsche Bank | Analyst unavailable | $105 | $98.74 | -4.4% | Oct 7, 2025 |
| Scotiabank | Nicholas Yulico | $114 | $99.11 | +3.8% | Aug 28, 2025 |
| Barclays | Richard Hightower | $106 | $94.92 | -3.5% | Jul 2, 2025 |
| BMO Capital | Juan Sanabria | $110 | $92.56 | +0.2% | May 26, 2025 |
| Wells Fargo | Dori Kesten | $113 | $97.51 | +2.9% | Mar 26, 2025 |
| Raymond James | Analyst unavailable | $117 | $104.71 | +6.5% | Feb 18, 2025 |
| Citigroup | Nicholas Joseph | $135 | $116.26 | +22.9% | Sep 12, 2024 |
| Citigroup | Michael Bilerman | $120 | $114.42 | +9.3% | Sep 4, 2024 |
| Stifel Nicolaus | Simon Yarmak | $114.5 | $112.72 | +4.3% | Aug 2, 2024 |
| Piper Sandler | Alexander Goldfarb | $135 | $112.68 | +22.9% | Aug 2, 2024 |
| Stifel Nicolaus | Simon Yarmak | $88 | $100.97 | -19.9% | Jun 28, 2024 |
| Truist Financial | Ki Bin Kim | $115 | $101.01 | +4.7% | May 21, 2024 |
| Deutsche Bank | Omotayo Okusanya | $110 | $101.14 | +0.2% | Apr 22, 2024 |
| Truist Financial | Ki Bin Kim | $117 | $101.9 | +6.5% | Jan 16, 2024 |
| Piper Sandler | Alexander Goldfarb | $111 | $96.35 | +1.1% | Jun 29, 2023 |
| Raymond James | Analyst unavailable | $120 | $104.41 | +9.3% | Jan 4, 2023 |
| Piper Sandler | Analyst unavailable | $112 | $108.78 | +2.0% | Dec 15, 2022 |
| Barclays | Analyst unavailable | $129 | $107.01 | +17.5% | Dec 6, 2022 |
| Raymond James | Collin Mings | $140 | $111.78 | +27.5% | May 12, 2022 |
| Barclays | Anthony Powell | $142 | $126.78 | +29.3% | Nov 17, 2021 |
| Compass Point | Floris van Dijkum | $122 | $115.26 | +11.1% | Aug 16, 2021 |
| UBS | Michael Goldsmith | $122 | $117.98 | +11.1% | Aug 5, 2021 |
| Jefferies | Linda Tsai | $119 | $114.45 | +8.3% | Jul 15, 2021 |
| Scotiabank | Nicholas Yulico | $131 | $114.2 | +19.3% | Jun 28, 2021 |
| Piper Sandler | Alexander Goldfarb | $125 | $110.03 | +13.8% | May 6, 2021 |
Track every rating change on FRT the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationFederal Realty Investment Trust (FRT) stands out as a premier entity specializing in the acquisition, management, and redevelopment of high-quality retail properties. These assets are strategically situated primarily in prominent coastal metropolitan areas, spanning the Eastern Seaboard from Washington D.C. to Boston, and extending to key West Coast cities such as San Francisco and Los Angeles. Established in 1962, Federal Realty's core objective is to generate enduring, consistent growth by concentrating investments in communities where consumer demand for retail offerings significantly surpasses existing supply.…
Historical context
All FRT earningsLatest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-29T05:30:58.986718+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-29T05:30:58.983967+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-29. For educational purposes only; not investment advice.