Overview
Federal Realty Q3 FFO per share grows 3.5% yr/yr
Company reports record leasing volume of 727,029 sq ft with strong rent growth
Announced acquisition of Annapolis Town Center for $187 mln post-quarter
Outlook
Federal Realty raises 2025 FFO guidance to $7.05-$7.11 per share
Company tightens 2025 EPS guidance to $3.93-$3.99
Result Drivers
RECORD LEASING VOLUME - Achieved all-time record leasing volume of 727,029 sq ft with significant rent growth
OCCUPANCY IMPROVEMENT - Comparable portfolio occupancy increased 40 basis points sequentially and 20 basis points yr/yr
RENT GROWTH - Rent growth of 28% on cash basis and 43% on straight-line basis for comparable retail space
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Rental Income | $313.18 mln | ||
Q3 EPS | $0.69 | ||
Q3 Net Income | $64.49 mln | ||
Q3 FFO | $153 mln | ||
Q3 Dividend | $1.13 | ||
Q3 FFO Per Share | $1.77 | ||
Q3 Operating Income | $110.66 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy"
Wall Street's median 12-month price target for Federal Realty Investment Trust is $108.00, about 12.2% above its October 30 closing price of $94.87
The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 30 three months ago
Press Release: ID:nPn4d09p1a
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)