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Federal Realty Investment Trust
F:WX2

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Federal Realty Investment Trust
F:WX2
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Price: 93.5 EUR -1.06% Market Closed
Market Cap: €7.4B

Federal Realty Investment Trust
Investor Relations

Federal Realty Investment Trust is a real estate investment trust that owns and manages shopping centers, street retail, and mixed-use properties in dense, higher-income neighborhoods. Its buildings are usually anchored by grocery stores, restaurants, pharmacies, fitness clubs, and other everyday retailers that draw steady local traffic. The company is a landlord, not a store operator, so its job is to lease space and keep those properties attractive and well run. The company makes money mainly from rent paid by tenants, along with charges tied to operating and maintaining the properties. In some cases it also earns income from redeveloping existing sites and adding new retail or residential space around them. Its customers are the retail chains, local businesses, and service providers that need well-located storefronts in places with strong household spending. What makes Federal Realty’s business model different is its focus on hard-to-replicate locations and long-lived properties that can be improved over time. Instead of chasing short-term deals, it builds value by owning land in established neighborhoods and continuously upgrading it to keep tenants and shoppers coming back. That makes it a core property owner in the retail real estate value chain, sitting between tenants that want space and communities that want convenient places to shop and gather.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
May 1, 2026
AI Summary
Q1 2026

Strong quarter: Federal Realty reported FFO per share of $1.88, up 10.6% from a year ago and $0.06 above the midpoint of guidance.

Guidance raised: Management increased full-year 2026 NAREIT and core FFO guidance to $7.46 to $7.55 per share, citing stronger leasing, better occupancy, and higher redevelopment income.

Leasing momentum: The company posted record first-quarter leasing volume, with 649,000 square feet of comparable deals and 13 anchor deals totaling nearly 400,000 square feet.

Portfolio strength: Occupancy held up better than expected at 93.8%, while the overall portfolio was 96.1% leased and the office portfolio was 99% leased.

Capital recycling: Federal Realty continued active asset recycling, selling $159 million of assets in the quarter and buying Congressional North Shopping Center for $72 million.

Outlook improving: Management said the back half of 2026 should benefit from signed leases coming online, redevelopment completions, and continued demand for high-income trade areas.

Key Financials
FFO per share
$1.88
Core FFO guidance
$7.46 to $7.55 per share
Comparable POI growth
4.7%
Cash basis min rent growth
3.6%
Overall portfolio leased
96.1%
Overall portfolio occupied
93.8%
Small shop leased
93.8%
Office portfolio leased
99%
Comparable lease volume
649,000 square feet
Anchor lease volume
nearly 400,000 square feet
Lease rollover
13% cash rollover, 23% straight-line
Trailing 12-month rent rollover
16%
Foot traffic
up 3% for the quarter
Executed but not yet occupied rent
$36 million
Asset sales
$159 million
Asset sale cap rate
well inside 5%
Congressional North acquisition
$72 million
Revolving credit facility
$1.4 billion
Debt maturity
$50 million
Net debt to EBITDA
5.5x
Fixed charge coverage
3.9x
Free cash flow
exceed $100 million in 2026
Development income
$27 million
Residential units
nearly 800 units
The Blair leased
34%
Lease negotiations pipeline
over 1.7 million square feet
Second quarter FFO per share guidance
$1.83 to $1.86
Third quarter FFO per share guidance
$1.84 to $1.87
Fourth quarter FFO per share guidance
low to mid-$1.90s
Earnings Call Recording
Other Earnings Calls

Management

Mr. Donald C. Wood CPA
CEO & Director
No Bio Available
Mr. Jeffrey S. Berkes
President & COO
No Bio Available
Ms. Dawn M. Becker
Executive VP, General Counsel & Secretary
No Bio Available
Ms. Wendy A. Seher
Executive VP, Eastern Region President and Chief Operating Officer
No Bio Available
Mr. Jeffrey Kreshek
Senior VP, Western Region President and Chief Operating Officer
No Bio Available
Mr. Jan W. Sweetnam
Executive VP & Chief Investment Officer
No Bio Available
Ms. Melissa Solis
Chief Accounting Officer & Senior VP
No Bio Available
Mr. Porter Bellew
Chief Information Officer & VP
No Bio Available
Ms. Leah Andress Brady
Vice President of Investor Relations
No Bio Available
Mr. Michael Ennes
Senior Vice President of Mixed-Use Initiatives & Corporate Communications
No Bio Available

Contacts

Address
MARYLAND
North Bethesda
909 Rose Avenue, Suite 200
Contacts
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