Federal Realty CEO Sheds Light on Retail Strength
Even when competing with powerhouse online retailers like Amazon, several bricks-and-mortar shopping centers are still managing to hold their own, Jim Cramer said Wednesday on CNBC's "Mad Money."
Cramer cited Federal Realty Investment Trust as an example of one company that's not getting lost in the fray. He called the firm "the best shopping center real estate investment trust in the country" and said it is still going strong because of its diversified portfolio that wasn't "tethered to any one retailer" and its extensive geographic diversity.
He also called Federal Realty a serial dividend raiser, noting that the company has boosted its payout for the last 44 consecutive years. It still yields only 2.8 percent, though, because of the recent rise in its share price.
"When you include reinvested dividends, FRT has given us a double since I first got behind it in May of 2009," Cramer said.
To learn more about what's going on in the world of retail, Cramer welcomed CEO Don Wood to the "Mad Money" studios for a chat. Check out the video to see the full interview.
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