FRTFederal Realty Investment Trust

Real estate · REIT · NYSE

FRT and 9 peers, year by year

The 9 Real estate companies closest to FRT in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
FRT Federal Realty Investment Trust	FY2024	$1.3B	+6.4%	-	47.1%	32.1%	-	12.7%	1.53
CPT Camden Property Trust	FY2025	$1.6B	+81.7%	-	-	24.4%	-	8.8%	0.89
REG Regency Centers	FY2025	$1.6B	+6.9%	-	72.3%	34.0%	-	7.6%	0.69
UDR UDR, Inc.	FY2025	$1.7B	+36.6%	-	32.3%	22.1%	-	11.5%	1.77
ESS Essex Property Trust	FY2025	$1.9B	−8.6%	69.9%	47.6%	35.5%	-	12.1%	-
KIM Kimco Realty	FY2025	$2.1B	+5.1%	-	36.0%	27.3%	51.5%	5.6%	0.74
MAA Mid-America Apartment Communities	FY2025	$2.2B	+0.8%	-	-	20.2%	-	7.9%	-
ARE Alexandria Real Estate Equities	FY2025	$3.0B	−2.9%	-	-	−47.2%	-	−9.2%	0.80
SBAC SBA Communications	FY2025	$2.8B	+59.9%	75.5%	47.7%	37.4%	37.9%	n/m	n/m
INVH Invitation Homes	FY2025	$2.7B	+4.2%	-	-	21.5%	-	6.2%	0.88

Revenuepeer median $2.1B

Sales growthpeer median +5.1%

Gross margin

SBAC 75.5%
ESS 69.9%
FRT -
CPT -
REG -
UDR -
KIM -
MAA -
ARE -
INVH -

Operating marginpeer median 47.6%

REG 72.3%
SBAC 47.7%
ESS 47.6%
FRT 47.1%
KIM 36.0%
UDR 32.3%
CPT -
MAA -
ARE -
INVH -

Net marginpeer median 24.4%

FCF margin

KIM 51.5%
SBAC 37.9%
FRT -
CPT -
REG -
UDR -
ESS -
MAA -
ARE -
INVH -

Return on equitypeer median 7.8%

Debt / equitypeer median 0.84

UDR 1.77
FRT 1.53
CPT 0.89
INVH 0.88
ARE 0.80
KIM 0.74
REG 0.69
ESS -
MAA -
SBAC n/m

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2015 to FY2024

Revenue as reported in the 10-K.

Company	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
FRT Dec	$744.0M	$801.6M	$857.3M	$915.4M	$935.8M	$835.5M	$951.2M	$1.1B	$1.1B	$1.3B
CPT Dec	-	$876.4M	$900.9M	$954.5M	$1.0B	$1.0B	$1.1B	$1.4B	$1.5B	$1.5B
REG Dec	-	-	$984.3M	$1.1B	$1.1B	$1.0B	$1.2B	$1.2B	$1.3B	$1.5B
UDR Dec	$871.9M	$959.9M	$995.8M	$1.0B	$1.2B	$1.2B	$1.3B	$1.5B	$1.6B	$1.7B
ESS Dec	$1.2B	$1.3B	$1.4B	$1.4B	$1.5B	$1.5B	$1.4B	$1.6B	$1.7B	$1.8B
KIM Dec	$1.2B	$1.2B	$1.2B	$1.2B	$1.2B	$1.1B	$1.4B	$1.7B	$1.8B	$2.0B
MAA Dec	-	-	$1.5B	$1.6B	$1.6B	$1.7B	$1.8B	$2.0B	$2.1B	$2.2B
ARE Dec	-	$921.7M	$1.1B	$1.3B	$1.5B	$1.9B	$2.1B	$2.6B	$2.9B	$3.1B
SBAC Dec	$1.6B	$1.6B	$1.7B	$1.9B	$2.0B	$2.1B	$2.3B	$2.6B	$2.7B	$2.7B
INVH Dec	$59.5M	$922.6M	$1.1B	$1.7B	$1.8B	$1.8B	$2.0B	$2.2B	$2.4B	$2.6B
Peer median	$1.2B	$959.9M	$1.1B	$1.3B	$1.5B	$1.5B	$1.4B	$1.7B	$1.8B	$2.0B

Sales growth, FY2015 to FY2024

Revenue against the fiscal year before.

Company	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
FRT Dec	-	+7.7%	+7.0%	+6.8%	+2.2%	−10.7%	+13.9%	+12.9%	+5.4%	+6.4%
CPT Dec	-	-	+2.8%	−11.6%	+20.3%	+24.2%	−2.5%	−50.7%	−33.5%	+107%
REG Dec	-	-	-	+13.9%	+1.1%	−10.3%	+14.8%	+5.0%	+8.0%	+9.9%
UDR Dec	-	+8.8%	+0.7%	+2.4%	+19.6%	−63.9%	+20.4%	−17.7%	+36.3%	+21.5%
ESS Dec	-	+8.3%	+5.4%	+2.7%	+3.7%	+0.7%	−4.8%	+21.9%	−0.1%	−7.8%
KIM Dec	-	+0.3%	+2.6%	−3.0%	−0.5%	−8.7%	+29.0%	+26.6%	+3.2%	+14.2%
MAA Dec	-	-	-	+2.8%	+4.4%	+2.3%	+6.0%	+13.6%	+6.4%	+2.0%
ARE Dec	-	-	+22.4%	+17.7%	+15.4%	+23.1%	+12.1%	+22.5%	+11.5%	+8.0%
SBAC Dec	-	−0.3%	+5.8%	+19.9%	+22.8%	−16.3%	+59.1%	+45.0%	−34.4%	−21.5%
INVH Dec	-	−25.1%	+14.3%	+63.4%	+2.4%	+3.3%	+9.5%	+12.1%	+8.7%	+7.7%
Peer median	-	+0.3%	+5.4%	+2.8%	+4.4%	+0.7%	+12.1%	+13.6%	+6.4%	+8.0%

Gross margin, FY2015 to FY2024

Gross profit / revenue.

Company	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
FRT Dec	-	-	-	-	-	-	-	-	-	-
CPT Dec	-	-	-	-	-	-	-	-	-	-
REG Dec	-	-	-	-	-	-	-	-	-	-
UDR Dec	-	-	-	-	-	-	-	-	-	-
ESS Dec	-	-	-	-	-	-	-	70.2%	70.1%	70.0%
KIM Dec	-	-	-	-	-	-	-	-	-	-
MAA Dec	-	-	-	-	-	-	-	-	-	-
ARE Dec	-	-	-	-	-	-	-	-	-	-
SBAC Dec	72.9%	74.2%	74.2%	74.9%	75.5%	77.1%	76.4%	74.6%	77.4%	78.3%
INVH Dec	-	-	-	-	-	-	-	-	-	-
Peer median	-	-	-	-	-	-	-	-	-	-

Operating margin, FY2015 to FY2024

Operating income / revenue.

Company	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
FRT Dec	40.3%	40.0%	47.8%	39.5%	50.3%	34.7%	41.5%	49.0%	35.9%	47.1%
CPT Dec	-	-	-	-	-	-	-	-	-	-
REG Dec	-	-	-	-	-	-	-	73.3%	71.9%	72.0%
UDR Dec	18.3%	41.8%	22.9%	33.9%	19.2%	20.1%	20.8%	16.5%	39.0%	17.0%
ESS Dec	27.7%	32.5%	34.7%	36.6%	32.9%	32.9%	36.8%	37.0%	35.0%	39.6%
KIM Dec	29.4%	33.6%	35.9%	50.0%	41.2%	31.4%	31.1%	32.7%	35.8%	30.9%
MAA Dec	-	-	-	-	-	-	-	-	-	-
ARE Dec	-	-	-	-	-	-	-	-	-	-
SBAC Dec	19.1%	23.7%	26.5%	29.2%	29.0%	30.4%	33.9%	35.1%	34.1%	53.6%
INVH Dec	192.1%	20.7%	11.2%	-	-	-	-	-	-	-
Peer median	27.7%	32.5%	26.5%	35.2%	31.0%	30.9%	32.5%	35.1%	35.8%	39.6%

Net margin, FY2015 to FY2024

Net income / revenue.

Company	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
FRT Dec	28.3%	31.2%	33.8%	26.4%	37.8%	15.8%	27.5%	35.9%	20.9%	32.1%
CPT Dec	-	93.5%	21.8%	16.4%	21.4%	11.9%	26.6%	45.9%	26.2%	10.6%
REG Dec	-	-	17.9%	22.2%	21.1%	4.4%	31.0%	39.4%	27.6%	27.5%
UDR Dec	39.0%	30.5%	12.2%	19.4%	16.1%	5.2%	11.6%	5.7%	27.3%	5.4%
ESS Dec	19.4%	32.1%	31.8%	27.9%	30.1%	38.0%	33.9%	25.4%	24.3%	41.8%
KIM Dec	76.6%	32.4%	35.5%	42.7%	35.4%	94.6%	61.9%	7.3%	36.7%	20.2%
MAA Dec	-	-	21.5%	14.2%	21.6%	15.2%	30.0%	31.6%	25.7%	24.1%
ARE Dec	-	−7.1%	15.0%	28.6%	23.7%	40.9%	27.0%	20.1%	3.6%	10.4%
SBAC Dec	−10.7%	4.7%	6.0%	2.5%	7.3%	1.2%	10.3%	17.5%	18.5%	28.0%
INVH Dec	−269.1%	−8.5%	−10.0%	−0.3%	8.2%	10.8%	13.1%	17.1%	21.4%	17.3%
Peer median	19.4%	30.5%	17.9%	19.4%	21.4%	11.9%	27.0%	20.1%	25.7%	20.2%

Free cash flow, FY2015 to FY2024

Cash from operations minus capital spending.

Company	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
FRT Dec	-	-	-	-	-	-	-	-	-	-
CPT Dec	-	-	-	-	-	-	-	-	-	-
REG Dec	-	-	-	-	-	-	-	-	-	-
UDR Dec	$454.6M	$532.1M	$517.5M	$555.8M	-	-	-	-	-	-
ESS Dec	-	-	-	-	-	-	-	-	-	-
KIM Dec	-	-	-	-	-	-	-	-	-	-
MAA Dec	-	-	-	-	-	-	-	-	-	-
ARE Dec	-	-	-	-	-	-	-	-	-	-
SBAC Dec	$514.3M	$602.5M	$671.4M	$700.8M	$815.8M	$997.5M	$1.1B	$1.1B	$1.3B	$1.1B
INVH Dec	$195.4M	$252.2M	$258.9M	$557.2M	-	-	-	-	-	-
Peer median	$454.6M	$532.1M	$517.5M	$557.2M	-	-	-	-	-	-

FCF margin, FY2015 to FY2024

Free cash flow / revenue.

Company	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
FRT Dec	-	-	-	-	-	-	-	-	-	-
CPT Dec	-	-	-	-	-	-	-	-	-	-
REG Dec	-	-	-	-	-	-	-	-	-	-
UDR Dec	52.1%	55.4%	52.0%	53.1%	-	-	-	-	-	-
ESS Dec	-	-	-	-	-	-	-	-	-	-
KIM Dec	-	-	-	-	-	-	-	-	-	-
MAA Dec	-	-	-	-	-	-	-	-	-	-
ARE Dec	-	-	-	-	-	-	-	-	-	-
SBAC Dec	31.4%	36.9%	38.9%	37.6%	40.5%	47.9%	45.7%	40.7%	48.2%	41.3%
INVH Dec	328.3%	27.3%	24.6%	32.3%	-	-	-	-	-	-
Peer median	52.1%	36.9%	38.9%	37.6%	-	-	-	-	-	-

Return on equity, FY2015 to FY2024

Net income / shareholders' equity at the year end.

Company	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
FRT Dec	12.6%	12.6%	12.8%	10.3%	14.0%	5.3%	10.1%	13.0%	8.0%	12.7%
CPT Dec	8.9%	27.2%	5.8%	4.7%	6.1%	3.6%	7.2%	13.1%	8.1%	3.5%
REG Dec	7.3%	6.4%	2.6%	3.9%	3.9%	0.8%	6.0%	7.9%	5.2%	6.0%
UDR Dec	11.7%	9.5%	4.3%	7.0%	5.5%	2.0%	4.4%	2.1%	11.1%	2.6%
ESS Dec	3.7%	6.7%	6.9%	6.2%	7.1%	9.5%	8.2%	7.1%	7.5%	13.4%
KIM Dec	17.7%	7.2%	7.9%	9.3%	8.4%	17.8%	8.5%	1.3%	6.9%	3.9%
MAA Dec	-	-	5.0%	3.6%	5.8%	4.3%	8.9%	10.6%	9.1%	8.9%
ARE Dec	3.6%	−1.3%	2.8%	5.2%	4.1%	6.6%	3.5%	2.7%	0.6%	1.8%
SBAC Dec	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m
INVH Dec	−8.5%	−4.0%	−1.2%	−0.1%	1.8%	2.3%	2.7%	3.7%	5.1%	4.7%
Peer median	7.3%	6.7%	4.6%	4.9%	5.7%	4.0%	6.6%	5.4%	7.2%	4.3%

Debt / equity, FY2015 to FY2024

Total debt / shareholders' equity at the year end.

Company	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
FRT Dec	1.54	1.39	1.43	1.35	1.33	1.75	1.57	1.47	1.56	1.53
CPT Dec	0.97	0.82	0.65	0.70	0.70	0.92	0.76	0.74	0.75	0.75
REG Dec	0.90	0.63	0.53	0.58	0.63	0.66	0.62	0.61	0.59	0.66
UDR Dec	1.23	1.10	1.30	1.22	1.40	1.54	1.57	1.34	1.45	1.69
ESS Dec	0.36	0.35	0.32	0.29	0.16	0.11	0.11	-	-	-
KIM Dec	0.75	0.75	0.85	0.82	0.99	0.90	0.71	0.71	0.76	0.75
MAA Dec	-	-	-	-	-	-	-	-	-	-
ARE Dec	1.00	0.85	0.80	0.75	0.76	0.65	0.54	0.54	0.61	0.68
SBAC Dec	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m
INVH Dec	-	-	1.14	1.12	1.03	0.94	0.82	0.75	0.84	0.84
Peer median	0.93	0.78	0.80	0.75	0.76	0.90	0.71	0.73	0.75	0.75

EPS (diluted), FY2015 to FY2024

Diluted earnings per share, on today's share count after splits.

Company	FY2015	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024
FRT Dec	$3.03	$3.50	$3.97	$3.18	$4.61	$1.62	$3.26	$4.71	$2.80	$4.68
CPT Dec	$2.76	$9.05	$2.13	$1.63	$2.22	$1.24	$2.96	$6.04	$3.70	$1.50
REG Dec	-	-	-	-	-	-	-	-	-	-
UDR Dec	$1.29	$1.08	$0.44	$0.74	$0.63	$0.20	$0.48	$0.26	$1.34	$0.26
ESS Dec	$3.49	$6.27	$6.57	$5.90	$6.66	$8.69	$7.51	$6.27	$6.32	$11.54
KIM Dec	$2.00	$0.79	$0.87	$1.02	-	-	-	-	-	-
MAA Dec	-	-	$2.86	$1.93	$3.07	$2.19	$4.61	$5.48	$4.71	$4.49
ARE Dec	$1.63	−$1.99	$1.58	$3.52	$3.12	$6.01	$3.82	$3.18	$0.54	$1.80
SBAC Dec	−$1.37	$0.61	$0.86	$0.41	$1.28	$0.21	$2.14	$4.22	$4.61	$6.94
INVH Dec	-	-	-	−$0.01	$0.27	$0.35	$0.45	$0.63	$0.85	$0.74
Peer median	$1.81	$0.94	$1.58	$1.32	$2.22	$1.24	$2.96	$4.22	$3.70	$1.80

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out FRT and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

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