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) has acquired Twinbrooke Shopping Centre in Fairfax, Virginia, for $33.8 million. The property spans 110,000 square feet and is 86% occupied, anchored by Safeway and Walgreens. This acquisition is part of Federal's strategy to enhance its portfolio, having already acquired 5 properties in 2021 totaling 1.9 million square feet valued at $441 million. The firm aims to increase property value through remerchandising and capital investments, strengthening its position in the growing Northern Virginia market.
Federal Realty Investment Trust (NYSE:FRT) reported strong second-quarter results for 2021, achieving a net income of $44.2 million or $0.57 per diluted share, up from $8.5 million last year. Funds from Operations (FFO) reached $110.1 million, or $1.41 per diluted share, compared to $58 million in Q2 2020. The portfolio was 92.7% leased, with 124 signed leases for 558,490 square feet. The company acquired four assets valued at $407 million, enhancing its growth prospects. Additionally, Federal Realty raised its quarterly dividend to $1.07 per share, marking the 54th consecutive year of dividend increases.
Federal Realty Investment Trust (NYSE:FRT) will announce its second quarter 2021 earnings in a press release after the market close on August 4, 2021. A conference call is scheduled for the same day at 5:00 PM ET. Federal Realty is recognized for owning, operating, and redeveloping high-quality retail properties primarily in coastal markets like Washington, D.C. to Boston and San Francisco. Notably, the company has increased its quarterly dividends for 53 consecutive years, marking the longest record in the REIT industry.
On June 7, 2021, Federal Realty Investment Trust (NYSE:FRT) announced the acquisition of four retail properties for a total gross value of $407 million. This includes Grossmont Shopping Center in San Diego, Chesterbrook Shopping Center in Virginia, and properties in Phoenix, Arizona. Federal expects to own an average of 80% interest across all assets, totaling 1.75 million square feet. The acquisitions, aimed at enhancing operational capabilities and value creation, are projected to close by the end of June, pending standard conditions.
Federal Realty Investment Trust (NYSE:FRT) has been recognized as a 2021 Green Lease Leader by the Institute for Market Transformation and the U.S. Department of Energy's Better Buildings Alliance. This Gold Recognition highlights the company's commitment to energy efficiency and sustainability in its leasing practices. Federal Realty has maintained this prestigious status since 2018, aligning with its mission to promote cost-saving and environmental initiatives across its portfolio. The company manages 101 properties and has a long track record of increasing dividends for shareholders for 53 consecutive years.
On May 12, 2021, Federal Realty Investment Trust announced it has been recognized by GlobeSt. as one of the commercial real estate's Best Places to Work in 2021. The accolade highlights Federal Realty's dedication to employee satisfaction amidst challenging times. The company emphasizes a positive work culture with professional development opportunities, wellness initiatives, and strong support systems for employees. Additionally, Federal Realty has maintained its workforce without layoffs during the pandemic, showcasing its commitment to employee well-being and engagement.
Federal Realty Investment Trust (NYSE:FRT) reported its Q1 2021 results with net income of $0.60 per diluted share, down from $0.70 in Q1 2020. Funds from operations (FFO) per share also declined to $1.17 from $1.50 year-over-year. The portfolio was 91.8% leased, with strong leasing demand reflected by a 9% cash basis rollover growth. The company ended the quarter with $780 million in cash and maintained significant liquidity. A regular quarterly dividend of $1.06 per share was declared, with guidance for 2021 earnings per share between $1.54 to $1.70 and FFO of $4.54 to $4.70.
Federal Realty Investment Trust (FRT) plans to announce its first quarter 2021 earnings after market close on May 5, 2021. A conference call will take place the same day at 5:00 PM ET, with a live webcast available for participants. The company has maintained its impressive track record, increasing quarterly dividends for 53 consecutive years, the longest in the REIT industry. As an S&P 500 member, Federal Realty focuses on high-quality retail properties primarily located in major coastal markets.
On March 2, 2021, Federal Realty Investment Trust (NYSE:FRT) announced its participation in the Citi 2021 Virtual Global Property CEO Conference. President and CEO Donald C. Wood will present on March 10, 2021, from 8:15 AM ET to 8:50 AM ET. Investors can access the live webcast through this link or via the Investor section of their website. A replay will be available until March 10, 2022. Federal Realty continues to be a leader in high-quality retail properties along the U.S. coasts, boasting increased dividends for 53 consecutive years.
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