MPLX (NYSE:MPLX) Q4 2025 Earnings call February 03, 2026 09:30 AM ET Company ParticipantsC. Kristopher Hagedorn - VP and ControllerGregory Floerke - EVP of OperationsKristina Kazarian - VP, Finance and Investor RelationsMaryann Mannen - President and CEOShawn Lyon - SVP of Logistics and StorageConference Call ParticipantsElvira Scotto - Managing Director, Senior Equity Research AnalystJohn Mackay - AnalystKeith Stanley - AnalystManav Gupta - AnalystOperatorWelcome to the MPLX fourth quarter 2025 earnings ca ...

Core Insights - Federal Realty (FRT) is actively pursuing a capital deployment strategy through acquisitions and dispositions to enhance portfolio quality and long-term value creation [1][6]. Acquisition Activities - FRT acquired two open-air retail centers, Town Center Plaza and Town Center Crossing, in Leawood, Kansas, totaling 550,000 square feet for $289 million, benefiting from strong local demographics and demand from top-tier tenants like Trader Joe's, Apple, and Sephora [2][8]. Disposition of Non-Core Assets - The company sold its Hollywood Boulevard retail portfolio in Los Angeles, comprising 181,000 square feet, for $69 million, and a 108-unit residential building in Santana Row for $74 million, with plans to identify an additional $1 billion in potential asset dispositions [3][8]. Development Projects - FRT is commencing the development of Lot 12, a 258-unit residential project at Santana Row, with an investment of approximately $145 million, aimed at meeting the growing demand for high-quality residential spaces [4][6]. Additional Residential Projects - The company has two more residential projects underway: a 45-unit building in Hoboken, NJ, expected by 2027, and a 217-unit multifamily project in Bala Cynwyd, PA, anticipated by mid-2026, both showing strong early leasing demand [5]. Strategic Focus - FRT's strategy emphasizes capitalizing on expansion opportunities in premium markets, focusing on mixed-use developments that cater to the trend of living, working, and playing in the same area, thereby driving income growth and long-term value [6]. Stock Performance - Over the past three months, FRT's shares have increased by 4.9%, outperforming the industry growth of 3.6% [7].