Federal Realty Investment Trust is a real estate investment trust (REIT) based in Rockville, Maryland, USA. The company was founded in 1962 by Samuel Eig, and its current chairman and CEO is Donald Wood. Federal Realty specializes in owning, managing, and developing high-quality retail and mixed-use properties in major markets across the United States. As of 2021, the company has a portfolio of 104 properties, comprising 24.2 million square feet of retail space and 2,900 residential units.
Federal Realty went public on the New York Stock Exchange (NYSE) in 1962, the same year it was founded. Since then, the company has grown to become one of the largest owners of retail real estate in the United States, with a market capitalization of over $9 billion as of May 2023. Federal Realty is included in the S&P 500 index, indicating its status as one of the 500 largest publicly traded companies in the US.
Federal Realty's portfolio is focused on high-end retail and mixed-use properties in affluent urban and suburban markets. Its properties are typically anchored by grocery stores, fitness centers, and other high-traffic tenants, and the company has a reputation for creating vibrant, walkable shopping districts. Some of Federal Realty's most well-known properties include Santana Row in San Jose, California, and Pike & Rose in North Bethesda, Maryland.
Federal Realty's business model is based on long-term relationships with its tenants, many of whom are well-established brands with a loyal customer base. The company focuses on acquiring and developing high-quality properties in prime locations, and then working closely with its tenants to ensure their success. Federal Realty has a strong balance sheet, with low leverage and a history of steady dividend payments.
In recent years, Federal Realty has focused on expanding its portfolio of mixed-use properties, which include residential and office components in addition to retail. The company has also been investing in technology and sustainability initiatives, such as electric vehicle charging stations and solar power installations.