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.
On March 1, 2023, Federal Realty Investment Trust (NYSE: FRT) announced its participation in Citi's 2023 Global Property CEO Conference on March 6, 2023, from 7:15 AM ET to 7:50 AM ET. This event will showcase the company's expertise in owning and redeveloping retail properties across major coastal markets from Washington, D.C. to Boston. The presentation will be available via a live webcast on Federal Realty's website and will be accessible for replay until March 6, 2024. Federal Realty boasts a long-standing record of dividend growth, marking 55 consecutive years of increases, making it a notable player in the REIT industry.
Federal Realty Investment Trust (NYSE: FRT) announced its operating results for the year and quarter ending December 31, 2022. Net income available for common shareholders rose to $4.71 per diluted share from $3.26 in 2021. Operating income also increased, reaching $526.4 million for 2022, compared to $394.7 million the previous year. The Trust reported FFO per diluted share of $6.32 for 2022, up from $5.57 in 2021. The portfolio's occupancy was 92.8%, with robust leasing activity leading to 105 signed leases in Q4. The Board declared a quarterly dividend of $1.08 per share, payable on April 17, 2023. Guidance for 2023 indicates EPS of $2.59 to $2.79 and FFO of $6.38 to $6.58.
Federal Realty Investment Trust (NYSE: FRT) announced on February 7, 2023, several executive promotions aimed at enhancing its operations. Robyn Sarrat was promoted to Vice President, Legal Leasing, managing lease documentation. Becca Walker becomes Vice President, Head of Legal – Real Estate, overseeing legal matters across operations. Jan Sweetnam steps into the role of Executive Vice President, Chief Investment Officer, focusing on growth initiatives. Other promotions include Jeff Kreshek as Senior Vice President, Western Region President, and Emily McLachlan as Vice President, Sustainability, advancing ESG commitments.
Federal Realty Investment Trust (NYSE:FRT) announced it will release its fourth quarter 2022 earnings on February 8, 2023, after the market closes. A conference call will follow at 5:00 PM ET the same day. This event marks an important update for investors as Federal Realty continues to focus on its strategy of sustainable growth through high-quality retail-based properties in key coastal markets.
The firm is noted for its 55 consecutive years of increased dividends, emphasizing its commitment to shareholder returns. Investors can access the call through a live webcast.
Federal Realty Investment Trust (NYSE:FRT) announced details regarding the 2022 income tax treatment for distributions to its shareholders. Key figures include a total distribution of $4.29 per common share and $1.25 per Series C Preferred Share. The taxable ordinary dividend for common shares amounted to $3.5178, with capital gains at $0.7722. For Series C shares, the taxable ordinary dividend was $1.0250 with capital gains at $0.2250. The company has a strong track record of increasing dividends for 55 consecutive years, reinforcing its reputation in the REIT sector. Shareholders are advised to consult their tax advisors regarding the treatment of these distributions.
Federal Realty Investment Trust (NYSE:FRT) will announce its fourth quarter 2022 earnings after market close on February 13, 2023. A conference call is scheduled for the same day at 5:00 PM ET. Federal Realty is recognized for its ownership and redevelopment of retail properties in major coastal markets, boasting a portfolio of 104 properties with approximately 3,200 tenants across 26 million square feet. The company has a 55-year record of increasing quarterly dividends, making it a standout in the REIT industry.
Federal Realty Investment Trust (NYSE:FRT) reported strong Q3 2022 results, with net income reaching $154.1 million ($1.89 per diluted share), up from $50.1 million ($0.64) year-over-year. Funds from operations (FFO) increased to $129.3 million ($1.59 per share), compared to $118.0 million ($1.51) in Q3 2021. Leasing activity was robust, with 119 leases signed for 562,859 square feet and portfolio occupancy at 92.1%. Federal Realty raised its 2022 earnings guidance to $3.88 - $3.93 per share and FFO guidance to $6.27 - $6.32. A dividend of $1.08 per share was declared.
Federal Realty Investment Trust (NYSE: FRT) announced an ambitious target to reduce Scope 1 and 2 greenhouse gas emissions by 46% from 2019 to 2030, in line with the Paris Agreement goal of limiting global temperature rise to less than 1.5°C. The company aims for net zero emissions by 2050. Key efforts include expanding renewable energy use, with a solar capacity of 14 MW—the highest among publicly-traded shopping center firms—and achieving LEED Gold certification for recent projects valued at nearly $1.8 billion. The company has increased dividends for 55 consecutive years.
Federal Realty Investment Trust (NYSE: FRT) announced the appointment of Thomas A. McEachin to its Board of Trustees, effective October 1, 2022. He replaces Mark S. Ordan, who resigned due to increased commitments as CEO of Pediatrix Medical Group. McEachin brings extensive financial expertise from roles at prominent companies, including Covidien Surgical Solutions. Federal Realty continues to be a leader in retail property ownership, boasting a track record of 55 consecutive years of quarterly dividend increases.
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