Federal Realty (FRT) Reports 2025 FFO of $7.22 Per Share, 6.6% YoY Increase

Financial Performance - Federal Realty Investment Trust reported a net income available for common shareholders of $4.68 per diluted share for the full-year 2025, an increase from $3.42 in 2024 [1] - The Trust generated Nareit Funds From Operations (FFO) of $7.22 per diluted share, reflecting a 6.6% year-over-year increase [1][7] - The company introduced Core FFO as a new metric, reporting $7.06 per diluted share for 2025 [2] Liquidity and Leasing Activity - The Trust concluded the year with a strong liquidity position of approximately $1.3 billion [2] - In 2025, the company signed 454 leases totaling 2.5 million square feet of retail space, resulting in the strongest comparable rent spreads in over a decade, with a 15% increase on a cash basis and 27% on a straight-line basis [2] - By the end of Q4, the comparable portfolio occupancy was 94.5%, and the total leased rate reached 96.6%, with small shop leasing ending the year at a 93.8% leased rate [2] Capital Recycling Strategy - Federal Realty made progress on its capital recycling strategy, acquiring $340 million in assets during Q4, including properties in Omaha, Nebraska, and an expansion in Maryland [3] - These acquisitions were balanced by $169 million in dispositions of peripheral residential and mature retail assets [3] - The company introduced 2026 Core FFO guidance of $7.42 to $7.52 per diluted share, indicating expected growth of up to 6.5% [3] Market Position - Federal Realty is recognized as a leader in the ownership, operation, and redevelopment of high-quality retail-based properties, primarily located in major coastal markets and select underserved regions with strong economic and demographic fundamentals [4]