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.
RLJ Lodging Trust announced the appointment of Robin Zeigler to its Board of Trustees, effective immediately. Ms. Zeigler brings over 25 years of real estate experience, having served as Executive VP at Cedar Realty Investment Trust and previously at Federal Realty Investment Trust. She will also join the Audit Committee and Nominating and Corporate Governance Committee. Ms. Zeigler is set to stand for election at the 2022 Annual Meeting of Shareholders, a move seen as positive amid the ongoing recovery in the lodging sector.
Federal Realty Investment Trust (NYSE:FRT) reported impressive financial results for the year and fourth quarter ending December 31, 2021. Net income for 2021 reached $253.5 million, or $3.26 per diluted share, up from $123.7 million in 2020. The fourth quarter net income was $112.9 million ($1.44 per diluted share), a 22% increase year-over-year. Funds from operations (FFO) rose to $5.57 per diluted share for the year. The Trust achieved record leasing activity, signing 462 leases for 2.1 million square feet in 2021. They also increased 2022 earnings guidance to $2.30-$2.50 per share.
Federal Realty Investment Trust (NYSE: FRT) announced significant promotions within its leadership team on February 9, 2022. Deirdre M. Johnson has been promoted to Senior Vice President, Asset Management, overseeing 4.5 million square feet in Virginia and Chicago. Michael Linson was named Senior Vice President, Finance, managing financial operations for 80 shopping centers totaling 18 million square feet. Leah Andress Brady became Vice President, Investor Relations, while Laura Houser was promoted to Vice President, Human Resources. These changes aim to enhance leadership and support continued growth.
Federal Realty Investment Trust (NYSE:FRT) will announce its fourth quarter 2021 earnings on February 10, 2022, after market close. A conference call for discussing the results will be held the same day at 5:00 PM ET. Federal Realty has consistently increased its quarterly dividends for 54 years, the longest in the REIT industry. The company is focused on high-quality retail properties primarily in coastal markets, with over 3,100 tenants and approximately 25 million square feet of owned space. Investors can access the live webcast and a replay of the call on the company’s website.
Federal Realty Investment Trust (NYSE: FRT) has announced a holding company reorganization to convert into an Umbrella Partnership Real Estate Investment Trust (UPREIT). This change will see a new holding company act as the publicly traded parent, while the existing REIT becomes a limited partnership. The reorganization is tax-deferred for shareholders and requires no shareholder approval under Maryland law. Effective January 1, 2022, the existing common and preferred shares will convert to identical shares of the new holding company. There will be no impact on existing shareholders or the company’s financial condition.
Federal Realty Investment Trust (NYSE:FRT) reported strong third-quarter results for 2021, with net income of $50.1 million or $0.64 per diluted share, up from a loss of $30.3 million or ($0.41) per diluted share in Q3 2020. Funds from operations (FFO) rose to $118 million, or $1.51 per share, compared to $85 million in the previous year. The portfolio occupancy increased to 90.2%, with significant leasing activity including 119 leases for 430,234 square feet. The company also raised its earnings guidance for 2021 and 2022, signaling confidence in its recovery.
On October 25, 2021, Federal Realty Investment Trust announced a long-term lease with Choice Hotels International for 105,000 square feet at 915 Meeting Street in North Bethesda, Maryland. This new 276,000-square-foot office building will feature top amenities and is set to begin construction later this year. Choice Hotels plans to relocate 400 employees there starting December 2023. The Pike & Rose development includes retail and dining options, contributing to the area's growth and corporate interest.
Federal Realty Investment Trust (FRT) announced it will release its third-quarter 2021 earnings on November 4, 2021, after market close. The company will host a conference call at 5:00 PM ET on the same day. Federal Realty, a leader in high-quality retail properties, has 105 properties with approximately 2,900 residential units and 3,000 tenants across major coastal markets including Washington, D.C. to Boston and San Francisco to Los Angeles. The REIT has a record of 54 consecutive years of dividend increases, the longest in its industry.
On September 15, 2021, Federal Realty Investment Trust (NYSE:FRT) announced its participation at the BofA Securities 2021 Global Real Estate Conference scheduled for September 21, 2021, at 9:00 AM ET. The presentation will be accessible via a live webcast, and a recording will be available within 24 hours post-event until December 22, 2021. Federal Realty specializes in high-quality retail properties along the U.S. East and West Coasts and has a strong track record, having increased dividends for 54 consecutive years.
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