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/Mis Actual Consensu

s s

Estimate

Q3 $313.18

Rental mln

Income

Q3 EPS $0.69

Q3 Net $64.49

Income mln

Q3 FFO $153 mln

Q3 $1.13

Dividend

Q3 FFO $1.77

Per

Share

Q3 $110.66

Operatin mln

g Income

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 ( FRT ) 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:

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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.)