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0.0% of simulations place fair value above current price
WHAT IS PRICED IN
Revenue-Based Reverse DCF
17.1%/yr
±4.2% · revenue growth to justify current price
FCF-Based Reverse DCF
27.6%/yr
±3.4% · FCF growth to justify current price
THE GAP
Market pricing margin compression or rising capex
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Rent growth strong (+15%) validates infill thesis, but higher costs, office pipeline risk, and modest upside (8% total return) suggest fair valuation with limited near-term catalyst.
FRT executed exceptional 2025 leasing (+15% cash spreads, 2.47M SF signed), validating thesis on moat in dense markets. Portfolio 94.1% occupied, anchors 95.5% leased, no tenant concentration risk. Co...
2025 delivered record rent spreads (15% cash, 27% SL) on 2.5M sq ft leasing. FFO grew 6.6% to .22/share, Core FFO +4.3%. Occupancy 94.5% is healthy. 2026 guidance .42-7.52 (+5.1-6.5%) suggests modest ...
FRT 2025 10-K shows a mature REIT managing through elevated costs. Core NOI growth (6.1%) masks rent-growth resilience (+15% on new leases) offset by structural cost inflation. Portfolio strength (96%...