wichayada suwanachun/iStock via Getty Images FRT stock: buy wonderful businesses at fair valuations The current situation surrounding Federal Realty Investment Trust (NYSE:FRT) is a textbook reflection of the wisdom to buy/hold wonderful businesses at fair prices (rather than fair businesses at wonderful prices). The chart below summarizes FRT stock’s valuation grade in comparison to the sector median. As seen, FRT multiples are not cheap in any way or by any standard. Based on the data here, FRT's P/E  ...