Boring never looked so good.
Check out slide 17.
Real estate folks don’t get the headlines.
We’re not tech bros.
We’re not restaurateurs.
But how about that quiet compounding, though?
Exhibit A: Federal Realty Investment Trust
-- 57 consecutive years of dividend increases (a REIT industry record)
-- High-income, high-barrier suburbs (e.g., Silicon Valley, D.C.)
-- $1.5B+ in liquidity and an investment-grade balance sheet
-- 6%+ yields on acq's/dev, otherwise buys back stock
-- Flagship redevelopments like Santana Row and Pike & Rose
-- Minimal exposure to troubled tenants (< 1% rents)
-- Diversified income streams (50% in grocery-anchored is highest)
-- 97% leased (20-year high) with $46M in signed-not-occupied pipeline
-- Management team averages over 20 years at FRT
Real estate isn’t always exciting.
And past performance doesn't predict the future.
But sometimes, boring is exactly the point.
Read the full presentation here.
PS -- to the FRT team, if you're reading this, we mean "boring" in the most endearing way possible.
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