Federal Realty: Affordable Dividend King, With Common And Preferred Shares Looking Attractive

  • Federal Realty stands out among REITs for its focus on high-quality assets in affluent, supply-constrained markets, maintaining high occupancy and resilient performance through economic cycles. The common shares trade at a ~13x P/FFO multiple, significantly below the 10-year average of close to 18x. The 5% cumulative preferred Class C shares are trading at a deep discount to par, yielding over 6%, with limited downside risk due to Federal Realty's strong credit profile.