Federal Realty Investment Trust
NYSE: FRT · REAL ESTATE · REIT - RETAIL
Updated 2026-06-05
Federal Realty Investment Trust (FRT) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $184.40M | $214.21M | $228.28M | $256.76M | $256.74M | $244.71M | $296.63M | $314.50M | $346.13M | $369.05M | $427.67M | $458.83M | $516.69M | $461.92M | $369.93M | $471.35M | $516.77M | $555.83M | $574.56M | $622.38M |
| Capital expenditures | $386.66M | $69.49M | $237.61M | $112.61M | $146.23M | $246.02M | $180.67M | $290.14M | $360.96M | $282.53M | $437.28M | $518.94M | $368.26M | $409.91M | $501.94M | $440.51M | $416.70M | $311.12M | $246.76M | $291.34M |
| Depreciation | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-based comp | — | — | — | — | — | — | $9.46M | $10.18M | $11.75M | $11.21M | $9.92M | $10.99M | $11.72M | $12.28M | $11.92M | $13.01M | $13.70M | $14.31M | $16.36M | $14.61M |
| Free cash flow | $-202.26M | $144.72M | $-9.33M | $144.16M | $110.51M | $-1.31M | $115.96M | $24.36M | $-14.83M | $86.51M | $-9.61M | $-60.11M | $148.43M | $52.01M | $-132.01M | $30.84M | $100.07M | $244.71M | $327.80M | $331.04M |
| Investing cash flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Dividends paid | $139.84M | $131.44M | $146.42M | $162.32M | $168.47M | $169.25M | $179.88M | $193.02M | $215.22M | $243.31M | $267.69M | $283.00M | $301.19M | $313.65M | $324.60M | $335.66M | $347.28M | $359.19M | $371.59M | $388.06M |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Debt repayment | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net change in cash | — | — | — | — | $-119.59M | — | $-30.82M | $51.94M | $-40.98M | $-26.91M | $2.32M | $-8.18M | $83.13M | $45.28M | $663.28M | $-641.73M | $-78.81M | — | — | — |
Frequently asked questions
What is Federal Realty Investment Trust's revenue?
Federal Realty Investment Trust's trailing twelve-month revenue is $1.31B. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is FRT?
In its most recent fiscal year, FRT ran a gross margin of 9.73%, an operating margin of 35.93%, and a net margin of 32.15%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does FRT generate?
FRT produced $331.04M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is FRT's balance sheet healthy?
FRT holds $107.42M in cash and equivalents against $4.94B in long-term debt, on $3.25B of shareholder equity. That debt is best read against the cash flow the business throws off each year.