Is FR or FRT more undervalued in 2026?

CirclFi compares First Industrial Realty Trust, (FR) and Federal Realty Investment Trust (FRT) using 13 institutional-grade valuation models. FR has a Quality of Company score of 8.6/10 while FRT scores 8.1/10.

Which is a better buy — FR or FRT?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do FR and FRT valuations compare?

FR at $61.87 and FRT at $119.63 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

FR vs FRT Valuation Comparison 2026 — Intrinsic Value Analysis

FR

Real Estate Investment Trusts

First Industrial Realty Trust,

Quality

8.6

out of 10

Value Trap

LOW

Price

$61.87

Last close

Models

13/13

Active

FRT

Real Estate Investment Trusts

Federal Realty Investment Trust

Quality

8.1

out of 10

Value Trap

SAFE

Price

$119.63

Last close

Models

13/13

Active

Model-by-Model Comparison

Model	Type	FR Fair Value	FR Upside	FRT Fair Value	FRT Upside
Bayesian DCF	Intrinsic	$40.56	-34.4%	$89.90	-24.9%
Earnings Power Value	Intrinsic	$18.47	-70.1%	$49.74	-58.4%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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FR vs FRT — Which Stock Is More Undervalued?

FR scores higher with a 8.6/10 quality rating vs FRT's 8.1/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing First Industrial Realty Trust, (FR) and Federal Realty Investment Trust (FRT) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

FR currently trades at $61.87 with a QOC of 8.6/10, while FRT trades at $119.63 with a QOC of 8.1/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).