Investors' efforts this year to adjust their portfolios to account for rising interest rates helped dividend stocks outperform the S&P 500 over the last year. It helps those dividend-paying companies usually have steady cash flows and manage their risk and capital well. One high-quality dividend payer, Federal Realty Investment Trust (NYSE: FRT), saw its stock price jump 19.7% in the last two months as more investors move their money around over concerns about a recession.

Despite that jump, it's not too late to add Federal Realty stock to your portfolio.

Quite simply, Federal Realty Investment Trust provides investors with a way to invest in real estate without requiring substantial upfront investments. It's a real estate investment trust (REIT), so it pools investors' money together to buy properties to develop and then lease out to companies at profit-making rates. The secret to its success is that it is very selective about the properties it invests in.

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Source Fool.com