Overview

* Federal Realty Q2 net income rises to $153.9 mln, $1.78 per share

* FFO per share increases to $1.91, including new market tax credit (NMTC) transaction income

* Company raises 2025 earnings and FFO guidance

Outlook

* Federal Realty raises 2025 earnings guidance to $3.91-$4.01 per share

* Company expects 2025 FFO per share of $7.16-$7.26

* Company highlights strategic EV charging partnership with Mercedes-Benz

Result Drivers

* LEASING GROWTH - Signed 119 leases for 643,810 sq ft of retail space on comparable basis, achieving 10% cash basis rollover growth

* OCCUPANCY IMPROVEMENT - Overall portfolio occupancy increased by 50 basis points year-over-year to 93.6%

* TRANSACTION INCOME - FFO included $13 mln from new market tax credit transaction income, boosting results

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $302.48

Rental mln

Income

Q2 Net $159.96

Income mln

Q2 FFO $13 mln

Q2 $1.13

Dividend

Q2 $202.74

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 7 "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 ( FRT ) is $109.50, about 14.7% above its August 5 closing price of $93.39

* The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 30 three months ago

Press Release:

(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.)