Is the Worst Over for Federal Realty Investment Trust?
Federal Realty Investment Trust (NYSE: FRT) has increased its dividend annually for more than five decades. Its streak is unmatched by any other real estate investment trust (REIT). But its focus on retail has left it in a weak position in the face of COVID-19. Is the worst over, or is there more pain to come?
Although many foresaw that a global pandemic would happen at some point in the future, few could have imagined what COVID-19 would lead to. Indeed, the call for non-essential businesses around the world to shut down was a massive economic blow. The U.S. landlords that housed such shuttered businesses were equally hard hit, as many tenants with no revenue stopped paying their rent. That included iconic real estate investment trust Federal Realty, which owns a collection of roughly 100 power centers, strip malls, and mixed-use developments.
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Source Fool.com
