2024-06-15 12:18:07 ET
Summary
- April this year I issued a bullish article on FRT, where since then the stock price has remained somewhat flat despite the strong Q1 report.
- The Q1, 2024 earnings report reveal several interesting dynamics that together clearly enhance FRT's growth prospects even further.
- In this article I elaborate on the key aspects of Q1 report and on why I think that FRT's investment case has strengthened.
Early April this year I wrote an article on Federal Realty Investment Trust (NYSE: FRT ) - Federal Realty Investment: Attractive Moment To Enter This Dividend King . As the name implies, my recommendation was to enter FRT. While more details can be found in the article, the key reasons for this were the following:
- Depressed multiples relative to the historical level.
- Narrowed premium relative to closest peers such as Realty Income Corporation (NYSE: O ) and Agree Realty Corporation (NYSE: ADC ).
- One of the lowest FFO payout levels in the industry, which should enable enhanced growth prospects (price and income wise).
- Relatively attractive yield, which is not that common given the investment grade balance sheet, conservative FFO payout level and inherently defensive business.
Read the full article on Seeking Alpha
For further details see:
Federal Realty Investment: The Opportunity Is Still There After Q1 2024