Welcome to our dedicated page for Federal Realty Investment Trust news (Ticker: FRT), a resource for investors and traders seeking the latest updates and insights on Federal Realty Investment Trust stock.
Federal Realty Investment Trust (NYSE: FRT) is a premier real estate investment trust (REIT) specializing in the ownership, operation, and redevelopment of high-quality retail properties. Established in 1962, the company has built a robust portfolio of assets located in eight of the largest metropolitan markets in the United States, spanning from Washington, D.C. to Boston, and from San Francisco to Los Angeles. Federal Realty's portfolio includes 102 properties, encompassing approximately 26 million square feet of retail space and over 3,100 multifamily residential units.
Federal Realty's portfolio is renowned for its diverse property types, including grocery-anchored centers, superregional centers, power centers, and mixed-use urban centers. The company focuses on owning properties in highly desirable areas characterized by strong demographics, significant population density, and high median household incomes. This strategic approach ensures that its assets are positioned in markets with substantial growth potential.
Recent operational highlights include the third quarter of 2023, during which Federal Realty achieved a record by leasing over 1.6 million square feet of comparable space. The company continues to demonstrate robust performance with an occupancy rate of 92.3% and a leased rate of 94.0% as of September 30, 2023. Additionally, Federal Realty's residential properties boast a high leased rate of 97.8%.
Federal Realty has a strong track record in delivering shareholder value, evidenced by its impressive history of increasing quarterly dividends for 56 consecutive years, the longest streak in the REIT industry. The company announced a quarterly cash dividend of $1.09 per common share for January 2024, reflecting its commitment to providing consistent returns to its shareholders.
The company is also known for its development of vibrant, mixed-use neighborhoods such as Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland, and Assembly Row in Somerville, Massachusetts. These projects combine retail, dining, residential, and office spaces, creating dynamic community hubs that attract top-tier tenants and visitors alike.
Financially, Federal Realty remains strong, with a disciplined approach to managing its operations and capital. The company reported net income available for common shareholders of $55.0 million for the third quarter of 2023, and funds from operations (FFO) of $135.3 million. Federal Realty also maintains a strategic focus on redevelopment projects, such as the second phase of residential redevelopment at Bala Cynwyd, PA, projected to add 217 residential units and 16,000 square feet of retail space.
Federal Realty Investment Trust (NYSE:FRT) will announce its first quarter 2023 earnings on May 4, 2023, after market close. A live conference call will be hosted on the same day at 5:00 PM ET. The call can be accessed via a live webcast or by dialing 844-826-3035 with the passcode 8664992. A replay will be available after the call and through May 25, 2023. Federal Realty, a leader in owning and redeveloping high-quality retail properties in major coastal markets, boasts a robust portfolio of 103 properties and a longstanding history of dividend increases for 55 consecutive years.
On April 10, 2023, Federal Realty Investment Trust (NYSE: FRT) announced the pricing of its public offering of $350 million in 5.375% notes due May 1, 2028, with an effective yield of 5.468%. The offering is expected to close on April 12, 2023, pending customary conditions. The net proceeds will finance eligible green projects, such as building acquisitions and developments that receive LEED Gold or Platinum certification. Funds will also be allocated for repaying existing debt, including outstanding 2.75% Notes due 2023, and for general corporate purposes. This offering involves several financial institutions as joint book-running managers. Federal Realty has a long history of delivering dividends, increasing them for 55 consecutive years, and remains a prominent REIT with a focus on high-quality retail properties.
FAQ
What is the current stock price of Federal Realty Investment Trust (FRT)?
What is the market cap of Federal Realty Investment Trust (FRT)?
What is Federal Realty Investment Trust's core business?
How many properties does Federal Realty own?
What types of properties are included in Federal Realty's portfolio?
Where are Federal Realty's properties located?
What was Federal Realty's financial performance in the third quarter of 2023?
What is Federal Realty's dividend policy?
What are some notable projects developed by Federal Realty?
How does Federal Realty approach property redevelopment?
What is the occupancy rate of Federal Realty's properties?
How does Federal Realty maintain its financial strength?
