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 February 11, 2021, Federal Realty Investment Trust (NYSE: FRT) announced the promotion of Jeffrey S. Berkes to President and Chief Operating Officer, overseeing all day-to-day operations. Berkes will lead the East and West Coast property operations, alongside newly appointed Presidents Wendy A. Seher and Jan Sweetnam. Berkes brings nearly 22 years of experience, having previously served as Chief Investment Officer and significantly growing the West Coast portfolio's operating income. The company also promoted key personnel in acquisitions and asset management.
Federal Realty Investment Trust (NYSE:FRT) released its operating results for the year and quarter ended December 31, 2020. For 2020, net income available for common shareholders was $123.7 million, or $1.62 per diluted share, down from $345.8 million, or $4.61 in 2019. The fourth quarter results showed a net income of $92.7 million and earnings of $1.22 per share. The company signed 449,783 square feet of leases in Q4 at an average rent of $32.16 psf. Despite COVID-19 impacts, the firm reported strong liquidity with $798 million cash and a $1 billion credit facility. A quarterly dividend of $1.06 is set for April 15, 2021.
Federal Realty Investment Trust (NYSE: FRT) will announce its fourth quarter 2020 earnings on February 11, 2021, after market close. A conference call will be hosted the same day at 5:00 PM ET. Federal Realty, a leader in high-quality retail properties primarily in coastal markets, has maintained a record of increasing dividends for 53 consecutive years. The company owns approximately 101 properties, with about 2,800 tenants and 2,800 residential units, emphasizing long-term sustainable growth.
Federal Realty Investment Trust (NYSE: FRT) announced the tax treatment for 2020 distributions to holders of its Common Shares and 5.000% Series C Cumulative Redeemable Preferred Shares. Key highlights include:
- Common Shares had a total distribution of $4.21 per share.
- Taxable ordinary dividends for common shares amounted to $3.45220.
- Preferred shares had total distributions of $1.25 per share with the same amount as taxable ordinary dividends.
Shareholders are advised to consult tax advisors for specific treatment.
Federal Realty Investment Trust (NYSE:FRT) will release its fourth quarter 2020 earnings after market close on February 11, 2021. A conference call is scheduled for February 12, 2021, at 11:00 AM ET. The company, a leader in retail property ownership and redevelopment, focuses on affluent communities along the U.S. coastline from Washington, D.C. to Boston and California. Federal Realty has a notable history of raising dividends for 53 consecutive years, reflecting its commitment to shareholder returns.
Federal Realty Investment Trust (NYSE: FRT) announced the sale of three non-strategic properties, including The Shops at Sunset Place, for $170 million. The sales closed before year-end 2020. The Trust also repaid $250 million of 2.55% senior notes due 2021 and redeemed $250 million of 3.00% senior notes due 2022, eliminating public bonds maturing until June 2023. With an $800 million cash balance and a $1 billion credit facility, the company emphasizes the importance of a strong balance sheet for navigating the post-COVID retail recovery.
Federal Realty Investment Trust (NYSE:FRT) reported its third quarter 2020 results, highlighting challenges due to the COVID-19 pandemic. The net loss for common shareholders was $30.3 million, translating to earnings per diluted share of ($0.41). Funds from operations (FFO) fell to $85 million, or $1.12 per diluted share, compared to $108 million, or $1.43 per share, a year prior. The portfolio was 92.2% leased, with 101 leases signed. The company has $863 million in cash and liquidity of $1.9 billion. A quarterly dividend of $1.06 per share was declared, payable on January 15, 2021.
Federal Realty Investment Trust (NYSE: FRT) announced the pricing of its inaugural public offering of $400 million in 1.250% notes due February 15, 2026, with an effective yield of 1.379%. The offering is set to close on October 13, 2020, pending customary conditions. The proceeds will fund eligible green projects, including acquisitions and renovations of buildings meeting LEED certification standards. The company has a long-standing commitment to sustainability and has consistently increased dividends for 53 years, establishing it as a leader in the retail real estate sector.
On October 7, 2020, Federal Realty Investment Trust (NYSE: FRT) released a business update highlighting its leadership in owning and operating high-quality retail properties in major coastal markets. The company boasts a total of 104 properties, housing around 2,900 tenants across 24 million square feet, and approximately 2,800 residential units. Notably, Federal Realty has maintained an unparalleled record of increasing quarterly dividends for 53 consecutive years. This performance underscores its commitment to sustainable growth in densely populated, affluent communities.
Federal Realty Investment Trust (NYSE:FRT) is set to announce its third quarter 2020 earnings after market close on November 5, 2020. A conference call will follow on November 6, 2020, at 10:00 AM ET. The company has a long-standing reputation in owning and redeveloping retail properties across major coastal markets, including Washington, D.C., Boston, San Francisco, and Los Angeles. Federal Realty also boasts a 53-year record of increasing quarterly dividends, making it a significant player in the REIT sector and a member of the S&P 500.
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