Federal Realty Investment Trust(US:FRT)2025-05-09 01:26Financial Performance - Net income available for common shareholders was $6176 million, or $072 per diluted share, compared to $5473 million, or $066 per diluted share, for the first quarter of 2024[12] - Funds From Operations (FFO) was $1465 million, or $170 per diluted share, compared to $1367 million, or $164 per diluted share, for the first quarter of 2024[13] - The company has raised its 2025 FFO per diluted share guidance to $711 to $723, representing 6% growth at the midpoint year-over-year[10] Portfolio Occupancy and Leasing - Comparable portfolio occupancy was 936%, an increase of 180 basis points year-over-year, but down 10 basis points quarter-over-quarter[10] - Leased rate for the comparable portfolio was 959%, an increase of 160 basis points year-over-year, but down 20 basis points sequentially[10] - Small shop leased rate was 935%, an increase of 210 basis points year-over-year, but down 10 basis points sequentially[10] - During the first quarter 2025, the company signed 91 leases for 429865 square feet of retail space[15] - Comparable leases represented 96% of total comparable and non-comparable retail leases signed during the first quarter 2025[15] Investment and Financing Activities - The company closed on the acquisition of Del Monte Shopping Center in Monterey, California for $1235 million on February 25, 2025[10, 17] - The company extended its $600 million unsecured term loan maturity date to March 2028 and increased the potential size to $750 million[10] - The company announced a new common share repurchase program, under which it may purchase up to $300 million of its outstanding common shares[10]