Federal Realty Op Lp Stock Price, News & Analysis

Federal Realty Investment Trust (NYSE:FRT) has sold Levare, a 108-unit Class A residential building at Santana Row in San Jose, California, for $74 million. The property, delivered in 2011 and 95% leased at sale, was disposed of as part of the company's strategy to reallocate capital toward higher-return opportunities.

Santana Row, Silicon Valley's premier mixed-use destination, spans over 2.5 million square feet featuring retail, office, residential, and hotel spaces. The development includes 50+ shops, 30 restaurants, 662 rental homes, 219 condominiums, a 215-key hotel, and approximately 1 million square feet of Class A office space, attracting over 8.5 million annual visits.

Comparable property operating income grew 2.8%, while portfolio occupancy reached 93.6% with a 95.9% leased rate. The company extended its $600M unsecured term loan to March 2028 and announced a new $300M share repurchase program. FRT also completed the acquisition of Del Monte Shopping Center in Monterey, California for $123.5M.

Management raised its 2025 FFO guidance to $7.11-$7.23 per share, representing 6% growth at the midpoint year-over-year, while maintaining earnings guidance of $3.00-$3.12 per share. The company declared a quarterly dividend of $1.10 per common share.

Cummins Inc. (NYSE: CMI) has announced the appointment of Nicole Y. Lamb-Hale as Chief Administrative Officer and Corporate Secretary, effective June 1, succeeding Sharon Barner who retires May 31. Lamb-Hale, who joined Cummins in 2021 as Vice President and Chief Legal Officer, will lead global functions including risk management, ethics and compliance, product compliance, regulatory affairs, government relations, communications and corporate responsibility.

Since joining Cummins, Lamb-Hale has played a important role in major corporate initiatives, including the acquisition of Meritor, the spin-off of Cummins' Filtration Business, and the formation of battery cell joint venture Amplify Cell Technologies. Her extensive background includes executive roles at Kroll, and Albright Stonebridge Group, as well as serving as Assistant Secretary for Manufacturing and Services in the U.S. Department of Commerce's International Trade Administration.

Federal Realty Investment Trust (NYSE:FRT) has scheduled its first quarter 2025 earnings release and conference call. The company will release its Q1 2025 earnings report after market close on Thursday, May 8, 2025, followed by a conference call at 5:00 PM ET on the same day.

Investors can access the conference call through a live webcast or by dialing 1-833-821-4548 or 1-412-652-1258. A replay of the webcast will be available 30 minutes after the call concludes on Federal Realty's website, and a telephonic replay will be accessible through May 22, 2025, using 1-844-512-2921 or 1-412-317-6671 with passcode 10197791.

Federal Realty Investment Trust (NYSE:FRT) has acquired Del Monte Shopping Center in Monterey, California for $123.5 million. The 674,000-square-foot, 47-acre grocery-anchored lifestyle center is currently 83% leased and serves a trade area of over 225,000 residents.

The property, anchored by Whole Foods and featuring retailers like Apple, Sephora, Lululemon, Pottery Barn, and Anthropologie, ranks in the nation's top 5% for annual foot traffic. Located on Highway 1, it serves as the dominant retail destination on the Monterey Peninsula.

Federal Realty plans to create value through strategic lease-up, merchandising, and placemaking enhancements, comparing the opportunity to their successful properties like Barracks Road and Virginia Gateway in similar affluent markets.

Federal Realty Investment Trust (NYSE: FRT) has announced its participation in Citi's 2025 Global Property CEO Conference scheduled for Monday, March 3, 2025, from 8:10 AM ET to 8:45 AM ET. The presentation will be available via live webcast and accessible through Citi's conference platform or Federal Realty's website.

Federal Realty, founded in 1962, specializes in owning and operating retail-based properties in major coastal markets from Washington, D.C. to Boston and California. The company's portfolio includes:

• 102 properties spanning 27 million commercial square feet
• Approximately 3,500 tenants
• 3,100 residential units

Notable developments include Santana Row in San Jose, Pike & Rose in North Bethesda, and Assembly Row in Somerville. The company holds the REIT industry's longest record of consecutive dividend increases at 57 years.

Federal Realty Investment Trust (NYSE: FRT) has announced several key leadership promotions to strengthen its strategic growth and operational excellence. Vanessa Mendoza has been promoted to Vice President, Regional Leasing, bringing over 15 years of experience in merchandising and leasing strategies. Sarah Forde Rogers has been elevated to Vice President, Regional Development after six years with the company, focusing on development execution and public-private partnerships.

Bob Franz, a 10-year company veteran, has been promoted to Vice President, West Coast Acquisitions, while Porter Bellew, also with 10 years at Federal Realty, has been promoted to Senior Vice President, Chief Information Officer. These promotions reflect the company's commitment to developing internal talent and positioning itself for continued success in real estate operations.

Federal Realty Investment Trust (FRT) reported strong financial results for Q4 and full-year 2024. Net income per diluted share reached $3.42 for 2024 (vs $2.80 in 2023), with operating income totaling $472.4 million. The company achieved record-breaking leasing performance with 452 comparable leases signed for 2.4 million square feet at an 11% cash basis rollover.

Portfolio metrics showed significant improvement, with 94.1% occupancy (+190 basis points YoY) and 96.2% leased rate (+200 basis points YoY). Small shop leasing reached 93.6% (+290 basis points YoY). The company announced two new redevelopment projects in Hoboken, NJ and Philadelphia, PA, and is under contract to purchase a 673,000 square foot shopping center in Northern California for $124 million.

For 2025, FRT provided guidance of $3.00-$3.12 earnings per diluted share and $7.10-$7.22 FFO per diluted share, with expected comparable properties growth of 3-4%.

Federal Realty Investment Trust (NYSE:FRT) has released the Federal income tax treatment for its 2024 distributions. For Common Shares, the total distribution per share for 2024 was $4.37, consisting of $3.5834 in taxable ordinary dividends, $0.6555 in capital gains, and $0.1311 in nontaxable distributions. The quarterly common share distribution increased from $1.09 to $1.10 in the fourth quarter.

For the 5.000% Series C Cumulative Redeemable Preferred Shares, the total distribution was $1.25 per depositary share for 2024, comprising $1.0625 in taxable ordinary dividends and $0.1875 in capital gains. The company reported no foreign taxes for the year.