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Data-driven stock valuation

First Hartford Corporation (FHRT) fair value: what the stock is really worth

As of Oct 29, 2026: fair value (intrinsic value) of First Hartford Corporation stock $54.86, price $32.25, upside +70.1%, quality 39 out of 100. Rating: strongly undervalued. Calculated from audited financials with 3 of our 26 valuation models and 37 quality factors, updated daily.

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Real Estate US

FH First Hartford Corporation logo Some data Nov 6, 2026

First Hartford Corporation

FHRT · US
Cheap, value-trap risk

The stock costs 41% less than our calculation considers fair.

Fair value $54.86 · Strongly undervalued
Costs just 6.6 times its yearly profit.
Mixed Growth (revenue 5y +0.9 %/yr in USD)
Thin margins · 7.0% net margin (TTM)
Mixed vs. peers (5/12)
Moderate moat 57/100
Some data
Quality 39/100
High debt
Negative free cash flow
⚠ Thinly traded⚠ Small free float
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$37.90 $3.75 Fair Value $54.86 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.

How to read this chart

60‑month range $3.75 – $37.90 · fair‑value band $15.29 – $94.42 · the $32.25 price screens below the $54.86 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.

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Company profile

First Hartford Corporation, together with its subsidiaries, engages in the purchase, construction, development, ownership, management, rental, and sale of real estate properties in the United States. It operates through two segments, Real Estate Operations and Fee for Service.

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The company owns interests in various properties, which are used as shopping centers, restaurants, police stations, and apartments located in Connecticut, Delaware, Louisiana, Massachusetts, New York, New Jersey, Rhode Island, and Texas.

It also provides preferred developer services for CVS, Cumberland Farms, and Wild Fork Foods. First Hartford Corporation was incorporated in 1909 and is based in Manchester, Connecticut.

Stock analysis

First Hartford Corporation (FHRT) currently trades at $32.25, while our model-based Fair Value estimate is $54.86, implying the stock looks roughly 41% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of $37.38 per share, and 1 of the 3 models we run sit above the $32.25 price.

Bear case: the Asset-Based group reads lowest at $7.82, and 2 of the 3 models stay below the price. Data coverage for this calculation is medium.

Scenario range: $15.29 (bear) to $94.42 (bull), the price of $32.25 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 39/100 (below-average quality), in the Real Estate sector.

Mixed Growth: Spin-off in 2004: revenue and profit before it include the divested business. Growth is measured afresh from 2004.

First Hartford Corporation reported revenue of $94.6M in FY2026 versus $80.3M in FY2022, a compound +4.2%/yr. Reported net income was −$456K in FY2026.

Key figures

Market cap $73.1M Micro · P/E ratio 6.6 · P/S ratio 0.91 · EPS (TTM) $4.88 · Net margin −0.5% · Return on equity 44.3% · Return on assets (EBIT) 4.4% (5-year average) · Operating margin 30.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 57 out of 100 (medium confidence).

What moves the price

The share trades about 15% below its 52-week high and 54% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at 33% fair-value upside, at 70%, FHRT screens cheaper than that median.

Fair Value models

Bear $15.29 Fair Value $54.86 Bull $94.42
Price $32.25 · Upside +70.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then ($2.58 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
EV/EBIT n/a $19.89 $50.72 61
EV/EBITDA $15.29 $54.86 $94.42 61
NCAV (Graham) $5.83 $7.82 $11.67 54
All 3 models by family
Multiples
EV/EBIT n/a $19.89 $50.72 61
EV/EBITDA $15.29 $54.86 $94.42 61
Asset-Based
NCAV (Graham) $5.83 $7.82 $11.67 54

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Quality Score breakdown

Overall quality 39/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 13
How much profit the company makes from its sales and capital
Quality Growth 1
Are margins and returns getting better?
Cashflow 33
Do the profits arrive as real cash?
Financial strength 4
Debt, balance sheet and risk of trouble
Investment 84
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 55
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 73
Distance to the 52-week high, does not count
New shares 93
Buys back shares or issues new ones?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 55/100
Spin-off in 2004: revenue and profit before it include the divested business. Growth is measured afresh from 2004.
Revenue growth 1 year
−12.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.9%
Start year 2021 (pandemic). Over 10 years: +4.3% a year
Revenue growth 22 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.7%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
14.5% (2021) → 13.4% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

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Compare First Hartford Corporation with another stock

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate - Development · 488 stocks

Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 39 · Bottom 25%
Fair Value upside +70.1% · Above median
Profitability
Return on equity (12 months) 44.3% · Top 25%
Return on assets −0.1% · Bottom 25%
Net margin (12 months) 7.0% · Below median
Operating margin (12 months) 30.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) −10.1% · Below median
Balance sheet
Debt / equity 7.53× · Highest 25%

Valuation Multiplesvs Real Estate - Development median · lower = cheaper

P/E (12 months) 6.6× · Cheaper than median
P/B 2.74× · Priciest 25%
P/S (12 months) 0.91× · Cheaper than median
EV/EBITDA 11.5× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 67
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)100 · sector 17
HEALTH (low debt)0 · sector 83
DIVIDEND (yield)0 · sector 61

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
China Resources Land Limited 1109 HK$32.02 HK$80.05 +150% vs FHRT
Vinhomes Joint Stock Company VHM 62,100 VND 105,995 VND +71% vs FHRT
China Overseas Land & Investment Limited 0688 HK$13.18 HK$22.49 +71% vs FHRT
CK Asset Holdings 1113 HK$49.12 HK$72.05 +47% vs FHRT
Sun Hung Kai Properties Limited 0016 HK$117.70 HK$156.00 +33% vs FHRT
China Merchants Shekou Industrial Zone Holdings 001979 ¥7.84 ¥5.64 −28% vs FHRT
Sino Land Company 0083 HK$10.48 HK$6.32 −40% vs FHRT
Lodha Developers Limited LODHA ₹1,179 ₹271.92 −77% vs FHRT
DLF Limited DLF ₹752.90 ₹167.48 −78% vs FHRT
Hongkong Land Holdings H78 $8.28 $1.52 −82% vs FHRT

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First Hartford Corporation: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "First Hartford Corporation Fair Value". https://www.fairvalue-calculator.com/stock/FHRT

Frequently asked questions

Is First Hartford Corporation (FHRT) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $54.86 versus the last price from Oct 29, 2026 of $32.25, about +70% upside (undervalued).
What is the fair value of FHRT?
Our model-based fair value for First Hartford Corporation is $54.86 (as of Nov 6, 2026), built from audited fundamentals. Last price (from Oct 29, 2026): $32.25.
What is the quality score of FHRT?
First Hartford Corporation has a Quality Score of 39/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for First Hartford Corporation (FHRT)?
Our model-based price target is the fair value of $54.86 (as of Nov 6, 2026) from 3 valuation models. Cautious scenario $15.29, optimistic scenario $94.42. It is a calculation from audited fundamentals, not an analyst target.
What is the First Hartford Corporation stock forecast for 2026?
Our models put fair value at $54.86, about +70% upside versus the last price from Oct 29, 2026 of $32.25 (undervalued). Cautious scenario $15.29, optimistic scenario $94.42. The calculation is refreshed regularly with new filings.
What is the revenue of First Hartford Corporation (FHRT)?
First Hartford Corporation reported trailing-twelve-month revenue of about $80.6M (latest available figure, as of Nov 6, 2026).
What is the intrinsic value of First Hartford Corporation (FHRT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For First Hartford Corporation it is $54.86 per share (as of Nov 6, 2026), against a price of $32.25. It is the blended result of 3 valuation models in 2 families (Multiples, Asset-Based).
Is First Hartford Corporation stock overvalued or undervalued in 2026?
As of Nov 6, 2026, FHRT trades below its calculated fair value: price $32.25, fair value $54.86, a gap of about +70% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FHRT?
No. The price is what the market pays today ($32.25); the fair value is what the company's own numbers justify ($54.86). For First Hartford Corporation the two are $22.61 per share apart. That gap is exactly why we show both numbers side by side.
How much is First Hartford Corporation worth?
The market values First Hartford Corporation at about $73.1M (market capitalisation, as of Nov 6, 2026). Per share that is $32.25; our models calculate a fair value of $54.86 per share.
What do the bullish and bearish scenarios say about FHRT?
Our models span a range for First Hartford Corporation: cautious scenario $15.29, base $54.86, optimistic $94.42 per share (as of Nov 6, 2026, price $32.25). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FHRT?
First Hartford Corporation trades at a price-to-earnings ratio of 6.6 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $54.86 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2016 to 2025), reported earnings: 3.4. Other multiples: P/B 2.7, P/S 0.9, EV/EBITDA 11.5.
How solid is the balance sheet of First Hartford Corporation (FHRT)?
Balance-sheet figures for First Hartford Corporation (as of Nov 6, 2026): return on equity 44.3%, debt of 7.53 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is FHRT from its 52-week high?
First Hartford Corporation trades at $32.25, about 15% below its 52-week high of $37.90 and 54% above the low of $21.00 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $54.86 is for.
Which stocks are comparable to First Hartford Corporation?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, CK Asset Holdings, DLF Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is First Hartford Corporation stock attractive at the current price?
The data as of Nov 6, 2026: price $32.25, calculated fair value $54.86 (+70%), Quality Score 39/100, from 3 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FHRT calculated?
We run First Hartford Corporation through 3 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of $54.86 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. First Hartford Corporation currently trades 41% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of First Hartford Corporation (FHRT)?
The latest price we hold is from Oct 29, 2026 and stands at $32.25. Our model-based fair value is $54.86, about +70% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with First Hartford Corporation right now?
The large discount to fair value meets weak quality (39/100). That raises the risk this is a value trap rather than a bargain. The model range is unusually wide ($15.29 to $94.42). The outcome hinges heavily on assumptions, so read the point estimate with caution. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of First Hartford Corporation

How large is the market capitalisation of First Hartford Corporation (FHRT)?
The market capitalisation of First Hartford Corporation is $73.1M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of First Hartford Corporation (FHRT)?
The price-to-sales ratio of First Hartford Corporation is 0.91 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of First Hartford Corporation (FHRT)?
Earnings per share at First Hartford Corporation are $4.88 (price ÷ EPS = P/E 6.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of First Hartford Corporation (FHRT)?
The net margin of First Hartford Corporation is −0.5% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of First Hartford Corporation (FHRT)?
The return on equity (ROE) of First Hartford Corporation is 44.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of First Hartford Corporation (FHRT)?
On an EBIT basis the return on assets of First Hartford Corporation is 4.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of First Hartford Corporation (FHRT)?
The operating margin of First Hartford Corporation is 30.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at First Hartford Corporation (FHRT)?
Revenue at First Hartford Corporation is growing −10.1% versus a year earlier (3y avg +9.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at First Hartford Corporation (FHRT)?
Earnings per share at First Hartford Corporation are growing +17.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does First Hartford Corporation (FHRT) generate?
The free cash flow of First Hartford Corporation is −$8.6M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does First Hartford Corporation (FHRT) carry?
The net debt of First Hartford Corporation is $234M (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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