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Federal Realty Won't Go Down So Easily

By Jim Cramer

 About this article:
 So, we are shooting all real estate investment trusts that have anything to do with mall properties now. That's got to be the takeaway of Federal Realty's hit, as they do strip malls and high-end malls with lots of tenants that the market is presuming to have exposure to CIT. First, I can't blame anyone for wanting to do this trade. It's one of those too-good-to-check-out trades, and those who got it off first are no doubt feeling pretty good about it. However, I would want to caution you that no one tenant is more than a couple of percent of a Federal Realty mall, and the tenants are anchored by supermarkets. The firm is not an easy firm to deal with from a credit standpoint, in that it doesn't like weaker credits, and it has near occupancy at all of its malls. How do I know this? Because...

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