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Last $132.70 USD
Change Today -0.51 / -0.38%
Volume 378.0K
FRT On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

federal realty invs trust (FRT) Key Developments

Federal Realty Investment Trust Declares Quarterly Cash Dividend, Payable on October 15, 2015; Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Full Year of 2015

Federal Realty Investment Trust announced that its Board of Trustees increased the dividend rate on its common shares, declaring a regular quarterly cash dividend of $0.94 per share, resulting in an indicated annual rate of $3.76 per share, an increase of 8.0%. The regular common dividend will be payable on October 15, 2015 to common shareholders of record on September 22, 2015. Federal Realty Investment Trust reported consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenue of $181,461,000 compared to $167,947,000 a year ago. Operating income was $76,201,000 compared to $68,361,000 a year ago. Income from continuing operations was $34,164,000 compared to $45,416,000 a year ago. Net income was $45,673,000 compared to $45,416,000 a year ago. Net income attributable to the trust was $43,632,000 compared to $43,545,000 a year ago. Net income available for common shareholders was $43,497,000 compared to $43,410,000 a year ago. Basic and diluted earnings per share were $0.63 compared to $0.64 a year ago. Basic and diluted earnings per share from continuing operations were $0.46 compared to $0.64 a year ago. Funds from operations were $73,525,000 compared to $83,432,000 a year ago. Funds from operations available for common shareholders was $73,942,000 compared to $83,635,000 a year ago. FFO per diluted share was $1.06 compared to $1.23 a year ago. Maintenance capital expenditures were $3,334,000 compared to $3,629,000 a year ago. Total capital expenditures were $82,832,000 compared to $91,541,000 a year ago. For the six months, the company reported total revenue of $366,253,000 compared to $338,775,000 a year ago. Operating income was $148,323,000 compared to $131,805,000 a year ago. Income from continuing operations was $82,367,000 compared to $85,961,000 a year ago. Net income was $93,876,000 compared to $85,961,000 a year ago. Net income attributable to the trust was $89,818,000 compared to $82,298,000 a year ago. Net income available for common shareholders was $89,547,000 compared to $82,027,000 a year ago. Basic and diluted earnings per share were $1.30 compared to $1.22 a year ago. Basic and diluted earnings per share from continuing operations were $1.13 compared to $1.22 a year ago. Funds from operations were $160,435,000 compared to $164,974,000 a year ago. Funds from operations available for common shareholders was $161,232,000 compared to $165,382,000 a year ago. FFO per diluted share was $2.32 compared to $2.43a year ago. Maintenance capital expenditures were $5,089,000 compared to $5,155,000 a year ago. Total capital expenditures were $144,503,000 compared to $171,666,000 a year ago. The company provided earnings guidance for the full year of 2015. For the period, the company expects net income to be in the range of $202 million to $205 million. Funds from operations expected to be of $350 million to $353 million. Loss attributable to operating partnership units expected to be of $1 million. FFO expected to be of $352 million compared to $355 million. The company increased the midpoint of its 2015 guidance for ffo to $5.29 to $5.33 per diluted share excluding early extinguishment of debt, and updated earnings per diluted share to $2.78 to $2.82.

Federal Realty Investment Trust to Report Q2, 2015 Results on Aug 05, 2015

Federal Realty Investment Trust announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Aug 05, 2015

Federal Realty Investment Trust, Q2 2015 Earnings Call, Aug 06, 2015

Federal Realty Investment Trust, Q2 2015 Earnings Call, Aug 06, 2015

Federal Realty Announces Executive Appointments

Federal Realty announced the appointment of three executive positions to supplement its core portfolio operating team. Jeffrey S. Mooallem has been named Senior Vice President, Managing Director Core Shopping Center Operations and will report directly to President and CEO Donald C. Wood. Mr. Mooallem will be based in the Trust's Headquarters in Rockville, Md and brings over 20 years of real estate experience in operations, leasing, acquisitions, and development with such companies as Equity One and Turnberry Associates. He will be responsible for 58 shopping centers comprising 11 million square feet and generating nearly a quarter billion dollars of property level operating income from the Boston suburbs through metropolitan Washington DC including portfolios in Philadelphia, Baltimore, New York and New Jersey. He joins the Trust on June 8, 2015. Jarett L. Parker has been named Vice President, Asset Management Metro DC Region and will report directly to Mr. Mooallem. Mr. Parker will be primarily responsible for the performance of the Trust's Metro DC shopping center portfolio, comprised of 17 assets representing over 3 million square feet and generating over $90 million of property level operating income. Mr. Parker comes from Kimco Realty Corp, where he spent the last nine years in various positions culminating in Director of Asset Management for a portfolio in the mid-atlantic region. He joins the Trust on June 8, 2015. Michael R. Linson has been named Vice President Finance for the Core Shopping Center Division and will report directly to Mr. Mooallem with a dotted line to CFO James Taylor. Mr. Linson comes from the Penzance Company where he served as their Senior Vice President of Asset Management and the Mills Corporation (prior to that company's acquisition by Simon property Group) before that. He joins the Trust on June 4, 2015.

Federal Realty Investment Trust Seeks Acquisitions

Federal Realty Investment Trust (NYSE:FRT) is seeking acquisitions. Jim Taylor, Chief Financial Officer, said, "We are doing other acquisition opportunities and may incur additional transaction costs before we close anything." Don Wood, Chief Executive Officer, said, "When you look, we've done $1 billion worth of acquisitions in the last few years. It's not like we haven't done a lot. We do bigger ones and in every case, there is a different set of situation. So, I don't see that changing. I don't feel like that's changing, right now."

 

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