--- canonical_url: https://www.stockexpertai.com/earnings/frt last_updated: 2026-05-09T16:39:07.016Z --- # Federal Realty Investment Trust (FRT) Q1 FY2027 Earnings Preview > This content was automatically generated with FMP live data + Q1 FY2026 earnings call transcript. Generated: 2026-05-09T16:39:06.536Z. Educational tool, not investment advice. --- ## Quick Summary | Field | Value | Source | |---|---|---| | Price | $115.68 (▲ 0.01%) | fmp:quote | | Market Cap | $10.0B | fmp:profile | | 52w range | $89.99 – $117.22 | fmp:quote | | Earnings | Wed 5 Aug | fmp:earnings-history | | EPS estimate | $0.73 (-62% YoY) | fmp:earnings-estimate | | Revenue estimate | $332.4M | fmp:earnings-estimate | | Beat streak | 5/4 | fmp:earnings-history | | Rating | B+ (overall 3/5) | fmp:ratings | | Analyst median target | $111 (-4.5% upside) | fmp:price-target-consensus | | MoonshotScore | 59/100 | derived | | Council | 2/6 bullish | derived | | Munger verdict | Overvalued | derived | ## Federal Realty Investment Trust — Q1 FY2027 Expectations Q1 consensus: revenue $332.4M^{[FMP est]}, EPS $0.73^{[FMP est]}. 5 consecutive quarters of beat^{[FMP earnings]}. ## Quick Take **Score:** B+ · **Stance:** SELL · **Council:** 2/6 · **Moonshot:** 59 = MoonshotScore 59^{[9-pillar formula]} + Council 2/6^{[6-lens rule]}. Form 4: 0 transactions^{[FMP Form 4]}. ## Watchlist (6 metrics) ### 1. Guidance Increase Federal Realty raised its guidance for both NAREIT and core FFO to $7.46 to $7.55 per share, driven by a strong first quarter and encouraging outlook. > "As a result of a robust first quarter and more encouraging outlook, given the continued resiliency in our portfolio, we are raising guidance for both NAREIT and core FFO to $7.46 to $7.55 per share." > — Daniel Guglielmone, CFO, Expectation / Guide · Q1 FY2026 ### 2. Ffo Per Share Growth Federal Realty reported a 10.6% growth in FFO per share, driven by strong operational performance. > "FFO per share of $1.88, besting a year ago's quarter by 10.6%, setting the stage for this quarter's earnings peak and enabling us to raise guidance for the balance of the year." > — Donald Wood, CEO, Investor Focus · Q1 FY2026 ### 3. Capital Recycling Federal Realty generated $159 million from the sale of Misora apartments and Courthouse Shopping Center and acquired Congressional North Shopping Center. > "Capital recycling this quarter saw us close on the sales of Misora apartments at Santana Row and Courthouse Shopping Center in Rockville, Maryland for combined proceeds of $159 million at a combined cap rate well inside 5%. Subsequently, we closed on the acquisition of Congressional North Shopping Center directly adjacent to our long-held A-rated Congressional Plaza in Rockville, for $72 million at a 7% stabilized yield." > — Donald Wood, CEO, Investor Focus · Q1 FY2026 ### 4. Leasing Activity Federal Realty completed over 100 leases for 649,000 square feet in the quarter, achieving a 13% cash rollover and 23% on a straight-line basis. > "With over 100 leases and 649,000 feet of comparable deals done in the quarter at 13% cash rollover, 23% on a straight-line basis." > — Donald Wood, CEO, Investor Focus · Q1 FY2026 ### 5. Residential Development Federal Realty plans to add nearly 800 residential units and $27 million of new operating income by intensifying its shopping centers. > "Together, this densification of our shopping center assets will add nearly 800 units and $27 million of new operating income to the portfolio once stabilized in the next few years." > — Donald Wood, CEO, Investor Focus · Q1 FY2026 ### 6. Office Portfolio Occupancy Federal Realty's office portfolio is 99% leased overall and is in high demand in mixed-use communities. > "Whole office portfolio, 99% overall leased. Now our office income stream and our nationally recognized mixed-use communities is in extremely high demand and is stable, is solid and is growing." > — Donald Wood, CEO, Investor Focus · Q1 FY2026 ## MoonshotScore Pillars | Pillar | Score | Level | Evidence | |---|---|---|---| | Revenue Growth | 5.0 | medium | Q1 vs Q2: healthy growth (+9.5%) | | Gross Margin | 7.0 | strong | Q1: very high margin (70.9%, software/cloud territory) | | Operating Leverage | 3.0 | weak | op margin very strong (34.1%, scale leverage) | | Cash Runway | 10.0 | strong | FCF strong ($0.1B FCF, covers CapEx) | | R&D Intensity | 3.0 | weak | low R&D investment (0.0%, weak innovation) | | Price Momentum | 7.0 | strong | RSI 65.7 positive momentum, 50d above | | News Sentiment | 6.0 | medium | majority buy (58%) | **Formula:** sum(pillar.score) / (count * 10) * 100. Each pillar deterministic from FMP. Source maps in pillar.formula. ## Council (7-Lens) | Name | Stance | Context | |---|---|---| | Ray Dalio | neutral | macro · target upside -4.5% | | Ken Griffin | bull | flow · 50d MA above | | Jim Simons | neutral | quant · RSI 66 | | Klarman | bear | value · target upside -4.5% | | Buffett | bull | quality · ROE score 5/5 | | Munger | bear | valuation · target upside -4.5% | **Formula:** Each lens uses deterministic rule on bundle data. Logged in member.contextTr. ## Munger Lens - **Verdict:** Overvalued - **Financial Health:** Moderate - **Margin of Safety:** Weak - **Interest Coverage:** Adequate - **ROIC vs WACC:** Healthy **Formula:** verdict=upside>25?Undervalued:>0?Fairly Valued:Overvalued. Each lens deterministic from FMP ratings + priceTarget. ## Technical Levels - **RSI(14):** 65.7 — yükselişte nötr — overbought sınırının altında, momentum pozitif - **50d MA:** $109 — hisse %6.3 üstünde — kısa vadeli destek - **200d MA:** $102 — hisse %13.7 üstünde — uzun vadeli destek - **Volume (10d):** -4% ## Past Performance (4 Quarters) | Quarter | EPS Actual | EPS Estimate | Result | Reaction | |---|---|---|---|---| | Q2 FY25 | $1.91 | $1.73 | BEAT | -0.9% | | Q3 FY25 | $1.77 | $1.76 | BEAT | -0.5% | | Q4 FY25 | $1.84 | $0.74 | BEAT | +0.0% | | Q1 FY26 | $1.88 | $0.73 | +158.2% EPS | -0.7% | Q1 (May 1, 2026): EPS $1.88 vs $0.73 est^[FMP], +158.2% beat. D+1 movement: -0.7%^{[FMP D+1]}. Decline despite beat — market reacted to guidance, not numbers. ## 3 Scenarios ### Scenario A · Beat **Q1 EPS > $0.73 + CapEx discipline** Threshold: EPS > $0.73^{[FMP est]}. Target: Break above median target $111^{[FMP target]}; high target $127^[FMP] upper bound. ### Scenario B · In-Line **EPS ≈ $0.73 + CapEx < $65.0M** Threshold: EPS ≈ $0.73^{[FMP est]}, Q1 CapEx < $65.0M^[FMP]. Target: Consolidation in the band between current $116^[FMP] and median $111^[FMP]. ### Scenario C · Miss **EPS < $0.71 or CapEx ≥ $65.0M** Threshold: EPS < $0.71^{[FMP est×0.97]}. Target: Current $116 below SMA200 $102^[FMP], if rejection continues, $86^[derived] support activates. ## Risk Notes ### Primary segment below threshold Q1: EPS $1.88 vs $0.73 beat^[FMP], stock -0.7% D+1^[FMP]. ### Backlog concentration No RPO/backlog concentration disclosed in Q1 earnings call. ### Insider trading Form 4 data is marked in the table — this page does not generate assumptions for this stock. | Executive | Action | Amount | Date | |---|---|---|---| **Net:** — (0 transactions · 0 sells · 0 buys) · Q1 FY26 ### CapEx shock Q1 CapEx $65.0M^{[FMP cashflow]}. Q1 op margin 34.1%^{[FMP op margin]} — this level in Q1 is sensitive to CapEx revision risk. ## Wall Street Consensus - **Median target:** $111 (-4.5% upside vs current $116) - **High / Low:** $127 / $105 - **Buy / Hold / Sell:** 11 / 8 / 0 - **Analyst count:** 4 (last quarter), 38 all-time ## Additional Transcript Insights ### 1. ffo_per_share_growth **Claim:** Federal Realty reported a 10.6% growth in FFO per share, driven by strong operational performance. **Evidence (transcript):** "FFO per share of $1.88, besting a year ago's quarter by 10.6%, setting the stage for this quarter's earnings peak and enabling us to raise guidance for the balance of the year." **Numbers:** $1.88, 10.6% ### 2. capital_recycling **Claim:** Federal Realty generated $159 million from the sale of Misora apartments and Courthouse Shopping Center and acquired Congressional North Shopping Center. **Evidence (transcript):** "Capital recycling this quarter saw us close on the sales of Misora apartments at Santana Row and Courthouse Shopping Center in Rockville, Maryland for combined proceeds of $159 million at a combined cap rate well inside 5%. Subsequently, we closed on the acquisition of Congressional North Shopping Center directly adjacent to our long-held A-rated Congressional Plaza in Rockville, for $72 million at a 7% stabilized yield." **Numbers:** $159 million, 5%, $72 million, 7% ### 3. leasing_activity **Claim:** Federal Realty completed over 100 leases for 649,000 square feet in the quarter, achieving a 13% cash rollover and 23% on a straight-line basis. **Evidence (transcript):** "With over 100 leases and 649,000 feet of comparable deals done in the quarter at 13% cash rollover, 23% on a straight-line basis." **Numbers:** 100, 649,000, 13%, 23% ### 4. residential_development **Claim:** Federal Realty plans to add nearly 800 residential units and $27 million of new operating income by intensifying its shopping centers. **Evidence (transcript):** "Together, this densification of our shopping center assets will add nearly 800 units and $27 million of new operating income to the portfolio once stabilized in the next few years." **Numbers:** 800, $27 million ### 5. office_portfolio_occupancy **Claim:** Federal Realty's office portfolio is 99% leased overall and is in high demand in mixed-use communities. **Evidence (transcript):** "Whole office portfolio, 99% overall leased. Now our office income stream and our nationally recognized mixed-use communities is in extremely high demand and is stable, is solid and is growing." **Numbers:** 99% ### 6. guidance_increase **Claim:** Federal Realty raised its guidance for both NAREIT and core FFO to $7.46 to $7.55 per share, driven by a strong first quarter and encouraging outlook. **Evidence (transcript):** "As a result of a robust first quarter and more encouraging outlook, given the continued resiliency in our portfolio, we are raising guidance for both NAREIT and core FFO to $7.46 to $7.55 per share." **Numbers:** $7.46, $7.55 --- *Data source: FMP (live query, 2026-05-09), Q1 FY2026 earnings call transcript (Translated to EN with Gemini 2.0 Flash). Educational tool, not investment advice.*