Federal Realty Investment Trust (FRT) is overvalued and Kimco Realty Corp (KIM) is overvalued.
Both trade above our estimate of their intrinsic value. KIM is the closer of the two: -53%, against -84% for FRT.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.2% (average of 3 methods) values the shares at $59.98; the price of $110.46 is 84% above that value, and 79% of that value comes from beyond year five.
Leak Score 14/100 on 3 of 12 signals
Discounting its cash flows at 8.1% (average of 3 methods) values the shares at $14.78; the price of $22.55 is 53% above that value, and 80% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
| Metric | FRT | KIM |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $110.46 | $22.55 |
| Intrinsic value | $59.98 | $14.78 |
| Margin of safety | -84% | -53% |
| Leak Score | 14/100 (3/12) | 0/100 (2/12) |
| Market cap | $9.7B | $15.1B |
| Revenue growth, 5 years | 9.6% | 15.3% |
| Operating margin | 34.5% | 34.5% |
| Net margin | 31.9% | 26.1% |
| Return on equity | 13.1% | 5.8% |
| Debt to equity | 1.44 | 0.89 |
| P/E | 22.3x | 26.4x |
| Forward P/E | 34.2x | 25.5x |
| P/B | 3.0x | 1.5x |
| Dividend yield | 4.1% | 4.8% |