Federal Realty Investment Trust (FRT)

Is a fine shopping centre REIT. Is up 22.6% this year. Pays a safe 3.66% dividend.

Last week, they delivered a fine quarter. Parts of the economy are struggling, but their holdings are levered to the affluent through shopping centres. It yields 4.5% at a 52-week high now.

Excellent business with strong margins and inventory. Not many vacancies, with consistent earnings. Well rounded footprint of units. Post Covid-19 is turning our very well for the business. Inflation not affecting all consumers equally - retail impacted most (negatively). FRT is able to pass on costs to customers (positive attribute). Smaller suburbs on outskirts of city centers, are very popular with consumers, and demand is rising. 

It last reported a good quarter and a solid full-year forecast, but rising bond yield have pressured this stock in the past month by 3%. Very well-run, holding property is the richest areas of the U.S. Operates urban mixed-use properties and open-air shopping centres.