Federal Realty Investment Trust FRT-PC

Competitive advantage analysis · real-estate

REIT Specialized
Overall moat score
61/100
Moderate

Ranked against 37 peers in REIT - Retail

About Federal Realty Investment Trust

Federal Realty 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. Founded in 1962, 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 … Full FRT-PC analysis →

Key strengths

  • Strong NOI Margins NOI margins are strong (score 0.81), demonstrating rent pricing power.
  • Accretive Growth Track Record Growth appears accretive (score 0.75), suggesting disciplined capital allocation.

Key risks

  • Portfolio Quality Concerns Portfolio quality is concerning (occupancy stability 0.39).
  • Volatile Occupancy/NOI NOI volatility is high (stability 0.39), raising occupancy concerns.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Rent Pricing Power

Moderate
64
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Signals, strengths and risks for Rent Pricing Power

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Signals, strengths and risks for AFFO Strength

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Signals, strengths and risks for Balance Sheet & Cost of Capital

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Signals, strengths and risks for Capital Recycling & Growth

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Signals, strengths and risks for Operational Efficiency

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Signals, strengths and risks for Portfolio Quality & Diversification

How FRT-PC scores on the REIT Specialized defenses

Rent Pricing Power

Score 64 · 20% of the moat score

For a REIT, pricing power is the ability to raise rents at renewal and still keep the space occupied.

AFFO Strength

Score 36 · 18% of the moat score

AFFO — adjusted funds from operations — is the cash a REIT can actually distribute after the recurring capital spending buildings need in order to stay leasable.

Balance Sheet & Cost of Capital

Score 60 · 20% of the moat score

Real estate is bought with borrowed money, so a REIT's cost of capital is its competitive advantage.

Capital Recycling & Growth

Score 85 · 16% of the moat score

REITs grow by issuing shares and debt to buy more property, which creates value only when the yield on the asset exceeds the cost of the capital raised.

Operational Efficiency

Score 64 · 14% of the moat score

Running property — leasing, maintenance, taxes, management — is the part of the business a REIT genuinely controls.

Portfolio Quality & Diversification

Score 57 · 12% of the moat score

Portfolio quality is really a question about what happens when a tenant fails.

How each REIT Specialized defense is measured, in full →

Understanding FRT-PC's moat

What is Federal Realty Investment Trust's moat score?

Federal Realty Investment Trust (FRT-PC) scores 61 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 37 companies in REIT - Retail. Its strongest defense is Capital Recycling & Growth (85/100) and its weakest is AFFO Strength (36/100).

How is the moat score calculated?

Each company is scored with an industry-specific template — REIT Specialized in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 37 companies in REIT - Retail. The defenses are then weighted to produce the overall score out of 100.

Why is Federal Realty Investment Trust scored with the REIT Specialized template?

A REIT is a portfolio of buildings financed with debt and required to distribute most of its taxable income. Reported earnings are dominated by depreciation on assets that often appreciate, so net income says very little; the real question is how much cash the properties distribute, and how securely. The REIT template scores what determines that: rent pricing, distributable cash, cost of capital, and the discipline behind growth.

Which competitive defenses are measured for Federal Realty Investment Trust?

The REIT Specialized template measures 6 defenses, and FRT-PC scores: Rent Pricing Power (64), AFFO Strength (36), Balance Sheet & Cost of Capital (60), Capital Recycling & Growth (85), Operational Efficiency (64), Portfolio Quality & Diversification (57). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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