Core Insights - Federal Realty Investment Trust has announced key promotions within its leadership team to enhance strategic growth and operational excellence across its national portfolio [1] Leadership Promotions - Vanessa Mendoza has been appointed Vice President, Regional Leasing, bringing over 15 years of experience and a strong track record in merchandising and leasing strategies at premier properties [2] - Sarah Forde Rogers has been promoted to Vice President, Regional Development, recognized for her expertise in entitlements and development execution, focusing on transformative mixed-use projects [3] - Bob Franz has been elevated to Vice President, West Coast Acquisitions, credited with expanding the company's presence on the West Coast and identifying high-quality acquisitions [4] - Porter Bellew has been promoted to Senior Vice President, Chief Information Officer, playing a key role in modernizing the company's digital infrastructure and enhancing decision-making capabilities [5] Company Overview - Federal Realty is a leader in the ownership, operation, and redevelopment of high-quality retail-based properties, primarily in major coastal markets from Washington, D.C. to Boston and Northern and Southern California [6] - The company has a portfolio of 102 properties, approximately 3,500 tenants, 27 million commercial square feet, and around 3,100 residential units [6] - Federal Realty has a record of increasing its quarterly dividends for 57 consecutive years, the longest in the REIT industry, and is a member of the S&P 500 index [7]

Financial Data and Key Metrics Changes - Total revenues exceeded $300 million in Q4 and $1.2 billion for the year, marking a growth of 7% and 6% respectively compared to prior periods [6] - FFO per share reached $1.73 in Q4 and $6.77 for the year, setting all-time records, with a growth of 7.9% and 4% respectively when excluding a one-time charge [6][21] - Occupancy rates were reported at 96.2% on a lease basis and 94.1% on an occupied basis at year-end, the strongest in nearly a decade [5][6] Business Line Data and Key Metrics Changes - Comparable deals in Q4 totaled 649,000 square feet with a 10% increase in cash rent and a 21% increase in straight-line rent compared to previous leases [4] - The residential portfolio showed strength with same-store residential POI growth of 5%, and 7% when including outperforming properties [25] Market Data and Key Metrics Changes - The retail real estate market remained strong in 2024, driven by favorable supply-demand dynamics and continued consumer spending [7] - The company reported minimal impact from struggling retailers on its portfolio, indicating resilience in its property quality [8] Company Strategy and Development Direction - The company expects to grow faster in 2025 at both the comparable property level and bottom line earnings level compared to 2024 [10] - Development projects include a $90 million residential over retail project and a $32 million redevelopment of Andorra Shopping Center, both expected to yield strong returns [13][15] - The company is actively pursuing acquisitions, with a $123.5 million shopping center purchase in Northern California expected to close soon [16] Management's Comments on Operating Environment and Future Outlook - Management expressed a positive outlook despite economic uncertainties, citing strong demand for their product and a real back-to-office movement [9][10] - The company anticipates continued improvement in occupancy and leasing activity, with expectations for higher occupancy by the end of 2025 [10][12] Other Important Information - The company raised dividends to $4.40 per share for the 57th consecutive year [5] - Financial flexibility improved with a reduction in annualized adjusted net debt to EBITDA from 6 times to 5.5 times [29] Q&A Session Summary Question: Discussion on tax credits and their inclusion in FFO - Management clarified that tax credits from the Freedom Plaza development are netted against expenses and are part of the revenue recognition process [44][46] Question: Acceleration in transaction volume and funding for acquisitions - Management confirmed a busy acquisition environment with significant financial flexibility to fund opportunities [51][55] Question: Leasing discussions and pricing strategies - Management noted that with high occupancy, they are successfully negotiating better lease terms and control provisions [63][69] Question: Confidence in credit quality and exposure to bankrupt retailers - Management indicated minimal exposure to struggling retailers and maintained a prudent credit reserve due to economic volatility [92][95] Question: Appetite for larger mixed-use deals and joint ventures - Management expressed readiness to pursue larger mixed-use assets and consider joint ventures if the numbers align [99][101] Question: Impact of tariffs on tenants - Management reported that tenants have adapted to tariffs and are managing their margins effectively [110][126] Question: Guidance for 2025 and expected growth drivers - Management provided guidance for FFO per share growth of 5% to 7% in 2025, driven by occupancy increases and development contributions [32][36]

Core Insights - Federal Realty Investment Trust (FRT) reported revenue of $311.44 million for Q4 2024, a year-over-year increase of 6.7% [1] - The earnings per share (EPS) for the same period was $1.73, compared to $0.76 a year ago, with no surprise against the consensus estimate [1] - The reported revenue was slightly below the Zacks Consensus Estimate of $311.85 million, resulting in a surprise of -0.13% [1] Revenue Breakdown - Mortgage interest income was reported at $0.28 million, matching the average estimate [4] - Rental income totaled $303.88 million, which is a 4.2% increase year-over-year but below the average estimate of $311.38 million [4] - Other rental income was $13.58 million, slightly below the estimate of $13.95 million, reflecting a 0.6% year-over-year increase [4] - Percentage rents generated $5.71 million, which is a 4.3% decrease compared to the previous year and below the estimate of $5.93 million [4] - Cost reimbursement revenue was $59.67 million, a 6.3% year-over-year increase but slightly below the estimate of $60.27 million [4] Stock Performance - Federal Realty Investment Trust shares have returned +6.3% over the past month, outperforming the Zacks S&P 500 composite's +3.9% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance in the near term [3]

Federal Realty Investment Trust (FRT) came out with quarterly funds from operations (FFO) of $1.73 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $1.64 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this real estate investment trust would post FFO of $1.72 per share when it actually produced FFO of $1.71, delivering a surprise of -0.58%.Over the last four quarters, the company has surpassed consensus FFO estimates j ...

Federal Realty Investment Trust (FRT) Q4 2024 Earnings Call February 13, 2025 05:00 PM ET Company Participants Leah Brady - Vice President-Investor RelationsDonald Wood - President and CEODan Guglielmone - Executive Vice President, Chief Financial Officer & TreasurerJuan Sanabria - Managing DirectorDori Kesten - DirectorJan Sweetnam - Executive VP & Chief Investment OfficerJeffrey Spector - Managing DirectorAlexander Goldfarb - Managing DirectorGreg Mcginniss - DirectorKi Bin Kim - Managing DirectorFloris v ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO THE SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-07533 (Federal Realty Investment Trust) Commission file number: 333-262016-01 (Federal Realty OP LP) FEDERAL REALTY INVESTM ...

FEDERAL REALTY INVESTMENT TRUST SUPPLEMENTAL INFORMATION TABLE OF CONTENTS | 1 | Fourth Quarter 2024 Earnings Press Release | 3 | | --- | --- | --- | | 2 | Financial Highlights | | | | Consolidated Income Statements | 8 | | | Consolidated Balance Sheets | 9 | | | Funds From Operations / Other Supplemental Information | 10 | | | Components of Rental Income | 11 | | | Comparable Property Information | 12 | | | Market Data, Debt Metrics, and Senior Notes and Debentures Covenants | 13 | | 3 | Summary of Debt | ...

NORTH BETHESDA, Md., Feb. 13, 2025 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) today announced its operating results for the fourth quarter and full year ended December 31, 2024. Net income available for common shareholders was $3.42 per diluted share for the full year 2024 and $0.75 per diluted share for the fourth quarter, compared to $2.80 and $0.76 per diluted share for the same periods in 2023, respectively. Operating income for 2024 totaled $472.4 million, with $109.3 million in the fo ...

Core Viewpoint - Federal Realty Investment Trust (FRT) is preparing to report its fourth-quarter and full-year 2024 results on February 13, with analysts and investors keen to evaluate its performance amid current economic conditions [1]. Company Performance - In the last reported quarter, FRT experienced a negative surprise of 0.58% in FFO per share, despite healthy leasing activity and significant occupancy gains, which were offset by higher interest expenses [2]. - Over the past four quarters, FRT surpassed estimates once, met once, and missed twice, with an average miss of 0.15% [3]. - The Zacks Consensus Estimate for quarterly revenues is $311.85 million, reflecting a 6.9% increase year-over-year, while rental revenues are projected at $311.38 million, up from $291.53 million in the previous year [9]. Industry Overview - The U.S. retail availability rate remained stable at 4.7% in Q4, despite store closures and a decline in net absorption, supported by limited new development due to high construction costs [4]. - Net absorption fell 14% quarter-over-quarter to 5.7 million square feet, aligning with seasonal trends as retailers focused on the holiday season [5]. - Average asking rent increased by 0.4% quarter-over-quarter and 2.5% year-over-year to $23.80 per square foot, with strong demand in secondary markets [6]. Future Projections - FRT's leasing rate is expected to be 96.1%, up 20 basis points sequentially, with rent per square foot projected to grow by 2.8% year-over-year [8]. - Interest expenses for the fourth quarter are estimated to increase by 7% year-over-year [10]. - For the full year 2024, FRT guided for FFO per share in the range of $6.76-$6.86, with a Zacks Consensus Estimate of $6.77, indicating a 3.36% increase year-over-year on revenues of $1.20 billion [11].

NORTH BETHESDA, Md., Jan. 28, 2025 /PRNewswire/ -- Federal Realty Investment Trust (NYSE:FRT) released today the Federal income tax treatment for 2024 distributions to holders of its Common Shares of Beneficial Interest (NYSE: FRT) and its 5.000% Series C Cumulative Redeemable Preferred Shares (NYSE: FRT.PRC).Common Shares (CUSIP # 313745101) Record Date Payable Date Distribution Per Share Taxable Ordinary Dividend Qualified Income Dividend (1) Capital Gains (4) Unrecap. Sec 1250 (2) Nontaxable Dis ...