Earnings summaries and quarterly performance for FEDERAL REALTY INVESTMENT TRUST.
Executive leadership at FEDERAL REALTY INVESTMENT TRUST.
Board of directors at FEDERAL REALTY INVESTMENT TRUST.
Research analysts who have asked questions during FEDERAL REALTY INVESTMENT TRUST earnings calls.
Craig Mailman
Citigroup
6 questions for FRT
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Greg McGinniss
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Michael Mueller
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Ravi Vaidya
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Cooper Clark
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Floris van Dijkum
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Ki Bin Kim
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Jefferies
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Paulina Rojas Schmidt
Green Street Advisors
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Rich Hightower
Barclays
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Andrew Reilly
Bank of America
2 questions for FRT
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Dori Kesten
Wells Fargo & Company
2 questions for FRT
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Floris Gerbrand van Dijkum
Compass Point Research & Trading, LLC
2 questions for FRT
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Haendel St. Juste
Mizuho Financial Group
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Jeffrey Spector
BofA Securities
2 questions for FRT
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Linda Yu Tsai
Jefferies Financial Group Inc.
2 questions for FRT
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Mike Mueller
JPMorgan Chase & Co.
2 questions for FRT
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Omotayo Okusanya
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2 questions for FRT
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Steve Sakwa
Evercore ISI
2 questions for FRT
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Connor Mitchell
Piper Sandler & Co.
1 question for FRT
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PR
Paulina Rojas
Green Street
1 question for FRT
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Samir Khanal
Bank of America
1 question for FRT
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Recent press releases and 8-K filings for FRT.
Federal Realty highlights $400 M Resi-Over-Retail pipeline
FRT
New Projects/Investments
- Federal Realty has a $400 million Resi-Over-Retail development pipeline to densify existing retail assets with residential projects across multiple markets.
- The active pipeline comprises four projects totaling 781 residential units and $385–411 million in development cost, targeting blended yields of approximately 7%.
- The Willow Grove project will convert 130,000 sq ft of retail into a six-story mixed-use building with 261 units, 438 parking spaces, and 52,000 sq ft of new retail, with construction commencing in Q2 2026.
- Federal Realty has secured entitlements or expects near-term approvals for nearly 3,500 additional residential units, creating a multi-year growth runway.
- The company’s Resi-Over-Retail strategy has historically generated cap rates of 4% to low-5% on residential dispositions, enabling disciplined recycling of capital into higher-yielding investments.
1 day ago
Federal Realty posts strong Q4 2025 results and 2026 guidance
FRT
Earnings
Guidance Update
New Projects/Investments
- FFO per share was $1.84 in Q4 (up 6.4% YoY) and $7.06 for full-year 2025 (up 4.3%), with 2026 Core FFO guidance of $7.42–7.52 (≈5.8% growth at midpoint) and NAREIT FFO of $7.42–7.52 per share.
- Portfolio 96.1% leased and 94.1% occupied at year-end; Q4 comparable leasing totaled 601 K sq ft at 12% rollover, with starting rents up to $37.98 vs. prior ending of $33.12 and 2.6% contractual rent bumps.
- Q4 acquisitions of Annapolis Town Center and Village Pointe added ~1 M sq ft for $340 M at low-7% initial cash yields; dispositions totaled $169 M in Q4 plus $160 M subsequently at blended low-5% cap rates.
- Liquidity stood at $1.3 B, including a $250 M delayed-draw term loan at SOFR+85 bp; pro-forma net debt/EBITDA of 5.6x and fixed-charge coverage at 3.9x, with plans to refinance a $400 M bond maturity.
- Ongoing redevelopment pipeline of $500 M (780 residential units) underwritten at 6.5–7% yields while current residential cap rates sit at ≤5%, driving long-term returns.
Feb 12, 2026, 10:00 PM
Federal Realty Investment Trust reports Q4 2025 results and 2026 guidance
FRT
Earnings
Guidance Update
New Projects/Investments
- In Q4, FFO per share was $1.84 (+6.4% YoY); the portfolio ended 96.1% leased and 94.1% occupied, with 601,000 sq ft of comparable leasing at 12% rollover driving $11 million of incremental rent.
- Closed acquisitions of Annapolis Town Center and Village Pointe (nearly 1 million sq ft) for $340 million at low-7% yields; dispositions included Bristol Plaza and Palace for $169 million, and Mesora plus a small asset for $160 million at low-5% cap rates; allocated $280 million for residential developments adding over 500 units.
- Year-end liquidity was $1.3 billion; secured a $250 million term loan at SOFR + 85 bps; free cash flow after dividends is expected to exceed $100 million in 2026; leverage at 5.7× net debt/EBITDA (5.6× pro forma) and fixed charge coverage at 3.9×.
- 2026 guidance set at $7.42–$7.52 core FFO per share (≈5.8% growth), with comparable POI growth of 3%–3.5% and quarterly FFO cadence of $1.80–$1.83 in Q1 and mid-$1.90s in Q4.
Feb 12, 2026, 10:00 PM
Federal Realty reports Q4 2025 results
FRT
Earnings
Guidance Update
M&A
- 96.1% leased and 94.1% occupied portfolio; Q4 comparable leasing of 601 k sq ft at 12% rollover; FFO/share of $1.84 (+6.4% YoY)
- Closed $340 M of acquisitions (Annapolis Town Center, Village Pointe) at ~7% yield; Q4 dispositions of $169 M at ~5% cap rate; development/redevelopment pipeline of $500 M including 780 residential units
- Year-end liquidity of $1.3 B and a $250 M delayed-draw term loan at SOFR+85 bp; adjusted net debt/EBITDA of 5.7x (5.6x pro forma)
- 2026 guidance: $7.42–$7.52 core FFO/share (+5.8% vs 2025); assumes 3–3.5% comparable POI growth and $13 M–$15 M of incremental development income
Feb 12, 2026, 10:00 PM
Federal Realty reports Q4 and full year 2025 results
FRT
Earnings
Guidance Update
New Projects/Investments
- Full year net income available to common shareholders was $403.0 million (EPS $4.68), and Q4 net income was $127.7 million (EPS $1.48) in 2025.
- Nareit FFO per diluted share increased to $7.22 for the year (+6.6%) and $1.84 for Q4 (+6.4%) in 2025.
- Achieved record 2.5 million sq ft of leasing with comparable rent spreads of 15% (cash) and 27% (straight-line), and ended Q4 with 94.5% occupancy.
- Acquired $340 million of properties and completed $169 million of dispositions in Q4 2025 as part of its capital recycling strategy.
- Introduced 2026 guidance of $3.90–4.00 EPS and $7.42–7.52 Nareit and Core FFO per diluted share.
Feb 12, 2026, 9:07 PM
Federal Realty reports Q4 and full‐year 2025 results
FRT
Earnings
Guidance Update
New Projects/Investments
- Reported full‐year 2025 EPS of $4.68 per diluted share (vs. $3.42 in 2024) and Q4 EPS of $1.48 (vs. $0.75).
- Generated Nareit FFO per diluted share of $7.22 for 2025 (+6.6% YoY) and $1.84 in Q4 (+6.4% YoY).
- Achieved record 2.5 million sq ft of retail leasing in 2025, with 15% cash‐basis rent spreads and 94.5% comparable occupancy at year‐end.
- Provided 2026 guidance of $3.90–$4.00 EPS and $7.42–$7.52 Nareit FFO/Core FFO per diluted share, implying 5.1%–6.5% Core FFO growth.
Feb 12, 2026, 9:05 PM
Federal Realty sells Misora Apartments at Santana Row
FRT
M&A
- Federal Realty sold Misora Apartments, a 212-unit Class A residential community at Santana Row in San Jose, for $148.5 million.
- The trust also divested Courthouse Center, a 33,000 sq ft shopping center in Rockville, Maryland, for $10.0 million.
- These transactions bring total disposition proceeds to $475 million over the past several quarters at a blended cap rate in the low 5% range.
- Proceeds are earmarked for long-term growth and ongoing capital recycling, enabling reinvestment in higher-return opportunities while preserving financial flexibility.
Feb 5, 2026, 11:00 PM
Federal Realty completes $170 million asset dispositions
FRT
- Completed sale of two assets for $170 million, including Pallas at Pike & Rose and Bristol Plaza, as part of its capital recycling strategy.
- Year-to-date dispositions total $316 million at a blended yield of 5.7%, highlighting disciplined capital allocation.
- Transactions underscore the trust’s ability to unlock embedded residential value and redeploy proceeds into high-growth opportunities.
Dec 17, 2025, 9:05 PM
Federal Realty acquires Village Pointe in Omaha
FRT
M&A
- Federal Realty purchased Village Pointe, a 453,000 sq ft open-air lifestyle center in West Omaha, for $153.3 million, reinforcing its disciplined growth strategy.
- The center attracts approximately 6 million annual visits, serves a trade area of over 500,000 people, and sits in a submarket with 3-mile average household incomes above $180,000.
- Federal Realty plans to enhance merchandising, tenant mix, and leasing to drive near- and long-term growth, leveraging its proven platform demonstrated in prior acquisitions like Leawood, KS.
Dec 1, 2025, 12:30 PM
Federal Realty enters into $250M unsecured term loan facility
FRT
Debt Issuance
- On November 17, 2025, Federal Realty OP LP executed a Term Loan Agreement allowing up to $250 million of unsecured term loans (with an accordion feature up to $500 million), maturing January 31, 2031; no borrowings are outstanding as of the report date.
- Loans under the facility bear interest at SOFR or Base Rate plus an applicable margin; the current SOFR margin is 85 basis points.
- The agreement contains customary covenants and events of default, including restrictions on indebtedness, financial maintenance tests (e.g., leverage and coverage ratios), and a cross-default to other material debt.
- Affiliates of lenders may serve as underwriters or advisors for Federal Realty’s equity and debt offerings, potentially earning customary fees and commissions.
Nov 19, 2025, 10:32 PM
Quarterly earnings call transcripts for FEDERAL REALTY INVESTMENT TRUST.
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