Federal Realty Promotes Jeff Kreshek to Executive Vice President [Accessibility Statement] Skip NavigationPromotion underscores the depth of Federal's leadership and the strategic importance of its West Coast portfolio.NORTH BETHESDA, Md., Feb. 23, 2026 /PRNewswire/ -- [Federal Realty Investment Trust] (NYSE:FRT) has named [Jeff Kreshek] Executive Vice President, Western Region President & Chief Operating Officer. The promotion recognizes Kreshek's leadership and the role of the West Coast portfolio as a co ...

we discuss ideas like this as they happen in more detail. All active investors are welcome to join on a free trial and ask any question in our chat room full of sophisticated traders and investors.Federal Realty Investment Trust ( FRT ) remains one of the highest-quality retail REITs in the public markets, with a decades-long dividend history and a quality portfolio. After reviewing Q4 2025 results, valuation, credit metrics, and capital structure positioning, we maintain a "Hold" on the common stock and a ...

Core Insights - Albert Anthony is a Croatian-American business author and analyst contributing to Seeking Alpha with over 1,000 followers [1] - He has authored a book titled "Real Estate Investment Trusts (REITs): A Fundamental Analysis (2026 Edition)" available on Amazon [1] - Anthony has a background in business and information systems, having worked at Charles Schwab in the IT department [1] - He operates his own boutique equities research firm, Albert Anthony & Company, remotely [1] - The author has participated in numerous business and innovation conferences and has hosted a program for Online Live TV Croatia [1] - He holds a B.A. in Political Science and various certifications including Microsoft Fundamentals and Risk Management specialization from CFI [1] - Anthony is also active on YouTube discussing REITs and is an investor in REIT stocks [1] Company and Industry Summary - Albert Anthony & Company is a Texas-registered business focused on equities research [1] - The firm provides general market commentary and research based on publicly available data [1] - The author does not engage with non-publicly traded companies, small cap stocks, or startup CEOs [1]

Consistency is rare in the real estate game. A recent theme of my coverage in Seeking Alpha has been the cyclicality of real estate. I’ve recently talked about companies like Camden Property Trust (Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Al ...

Core Insights - Federal Realty Investment Trust (FRT) reported a fourth-quarter 2025 core funds from operations (FFO) per share of $1.84, slightly missing the Zacks Consensus Estimate of $1.86, but showing an increase from $1.76 in the prior-year quarter [1][9] - Quarterly revenues reached $336.1 million, exceeding the consensus mark of $329.0 million and reflecting a year-over-year improvement of 1.9% [1] Leasing Activity - In 2025, FRT achieved a historic high in total leasing activity, executing 2.5 million square feet of retail leases, with comparable rent spreads increasing by 15% on a cash basis and 27% on a straight-line basis [2][9] - During Q4, FRT signed 109 leases for 612,978 square feet of retail space, with an average rent of $39.09 per square foot, representing a 12% increase on a cash basis and a 24% increase on a straight-line basis [3] Operational Performance - Comparable property operating income (POI) grew by 3.1% in Q4, excluding lease termination fees and prior-period rents collected [3] - The comparable portfolio occupancy rate increased by 50 basis points year over year to 94.5% as of December 31, 2025, with a leasing rate of 96.6% [4] Financial Position - FRT ended the quarter with approximately $1.3 billion in total liquidity, which includes cash and availability under its revolving credit facility, supporting its development and acquisition pipeline [6] - The company completed the acquisition of two properties for a total of $340 million during Q4, expanding into new markets and strengthening its existing presence [7] Dividend and Guidance - FRT maintained its regular quarterly cash dividend of $1.13 per share, indicating an annualized rate of $4.52 per share, reinforcing its position as a consistent dividend grower [11] - For full-year 2026, FRT expects core FFO per share in the range of $7.42-$7.52, implying growth of 5.1-6.5% from 2025 levels [12]

On property operations, Wood said the portfolio ended the year 96.1% leased and 94.1% occupied, adding that the figures were about 50 basis points higher excluding newly acquired centers. Guglielmone said comparable property operating income (POI) growth, excluding prior period rent and term fees, averaged 3.8% for the year and 3.1% for the fourth quarter; on a cash basis, he said the comparable POI metric was 3.6% for the year and 4.3% for the quarter.Chief Executive Officer Don Wood said the company deliv ...

Core Insights - Federal Realty Investment Trust (FRT) reported a revenue of $336.05 million for the quarter ended December 2025, marking a year-over-year increase of 7.9% and exceeding the Zacks Consensus Estimate of $328.96 million by 2.15% [1] - The earnings per share (EPS) for the same period was $1.84, compared to $0.75 a year ago, although it fell short of the consensus EPS estimate of $1.86 by 0.97% [1] Revenue Breakdown - Mortgage interest income was reported at $0.28 million, matching the five-analyst average estimate with no year-over-year change [4] - Rental income from percentage rents was $6.91 million, exceeding the $6.36 million average estimate and reflecting a year-over-year increase of 21.1% [4] - Other lease-related rental income was reported at $6.71 million, which was below the three-analyst average estimate of $8.97 million, showing a significant year-over-year decline of 50.6% [4] - Total rental income was $327.54 million, surpassing the three-analyst average estimate of $323.79 million, with a year-over-year increase of 7.8% [4] - Cost reimbursement revenue was $67.55 million, exceeding the three-analyst average estimate of $64.73 million, representing a year-over-year increase of 13.2% [4] Stock Performance - Shares of Federal Realty Investment Trust have returned +4.8% over the past month, contrasting with the Zacks S&P 500 composite's -0.3% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Donald C. Wood: Strong quarter, strong year, strong 2026 guidance. 6.4% bottom line FFO growth in the quarter, 4.3% for the year, and guidance close to 6% at the midpoint for 2026. All those numbers, of course, eliminate the impact of the onetime new market tax credit last year, as reflected in our new core FFO metric—more to come on that from Dan. Business is good, with strong demand for our assets in both our historical locations as well as the newer markets. We ended the year with the overall portfolio 9 ...

分组1 - Federal Realty Investment Trust (FRT) reported quarterly funds from operations (FFO) of $1.84 per share, missing the Zacks Consensus Estimate of $1.86 per share, but showing an increase from $1.73 per share a year ago, resulting in an FFO surprise of -0.97% [1] - The company posted revenues of $336.05 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 2.15%, compared to year-ago revenues of $311.44 million, and has topped consensus revenue estimates four times over the last four quarters [2] - The current consensus FFO estimate for the coming quarter is $1.78 on revenues of $327.58 million, and for the current fiscal year, it is $7.42 on revenues of $1.34 billion [7] 分组2 - Federal Realty Investment Trust shares have increased by approximately 6.1% since the beginning of the year, outperforming the S&P 500's gain of 1.4% [3] - The Zacks Industry Rank for REIT and Equity Trust - Retail is currently in the top 28% of over 250 Zacks industries, indicating that the industry outlook can significantly impact stock performance [8] - The estimate revisions trend for Federal Realty Investment Trust was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6]

Financial Data and Key Metrics Changes - The company reported a 6.4% growth in FFO for Q4 and a 4.3% growth for the year, with guidance for 2026 close to 6% at the midpoint [6][18] - The overall portfolio was 96.1% leased and 94.1% occupied, with a 50 basis points increase when excluding newly acquired centers [6][12] - FFO per share for Q4 was $1.84, reflecting a 6.4% growth year-over-year [18] Business Line Data and Key Metrics Changes - In Q4, 601,000 sq ft of comparable deals were completed at a 12% rollover, with 2.3 million sq ft for the year at a 15% rollover, resulting in an incremental $11 million of new rent under contract [7][14] - The company signed 105 comparable deals in Q4, achieving a 12% rollover, with a weighted average contractual rent bump of 2.6% [14][15] Market Data and Key Metrics Changes - The company noted strong demand in California, which is expected to be a significant source of growth in the coming years [69] - Foot traffic in the greater Washington, D.C. area increased by 3% in Q4, with annual sales moving higher year-over-year [15][17] Company Strategy and Development Direction - The company is focused on driving rent growth, disciplined expense management, and capitalizing on quality real estate for multi-year growth opportunities [14] - The redevelopment pipeline includes $500 million in projects, with 780 residential units planned at existing retail properties [20][22] - The company plans to maintain a strong leverage metric, with annualized adjusted net debt to EBITDA expected to trend further to the low- to mid-5 times range [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for assets and the ability to achieve near 6% growth in 2026 [6][12] - The company anticipates a temporary drag on comparable POI growth due to turnover in anchor space, but expects occupancy levels to improve by year-end 2026 [24][57] Other Important Information - The company will report both NAREIT FFO and core FFO going forward to enhance comparability across periods [22] - Guidance for 2026 includes a forecast for comparable POI growth of 3%-3.5% and assumes a full year's contribution from $750 million of high-quality assets acquired in 2025 [23][25] Q&A Session Summary Question: Can you provide insight into the investment pipeline? - The company is targeting large, dominant shopping centers and expects more opportunities in the second half of the year [30][31] Question: How much more peripheral multifamily could be marketed for sale this year? - There are opportunities to monetize residential products, with an estimated $400 million-$500 million available for sale [34][35] Question: Is the pricing power driving rent spreads broad-based? - Management indicated that the pricing power is broad-based, driven by high demand and limited supply across various property types [41][42] Question: Can you break down the same-store NOI growth? - The company expects about 3%-3.5% growth, with a significant portion coming from rent bumps and rollover [46] Question: What is the status of tenant credit and any watch list items? - The company has limited exposure to tenant credit issues, with Saks and Container Store being monitored [62][64] Question: What is driving the robust performance in California? - California is expected to be a major growth contributor due to leasing and development activity [69] Question: What is the timing for the development expansion pipeline? - The increase in the development pipeline is expected to be pro rata throughout the year [71] Question: What percentage of NOI is captured in the comp pool today? - Approximately 85%-90% of NOI is captured in the comparable pool [75]