Federal Realty Investment Trust (FRT) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Federal Realty Investment Trust (FRT) reported $280.68 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 6.3%. EPS of $1.67 for the same period compares to $0.75 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $277 million, representing a surprise of +1.33%. The company delivered an EPS surprise of +3.09%, with the consensus EPS estimate being $1.62.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Federal Realty Investment Trust performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Rental income: $280.39 million versus $276.72 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +6.3% change.
Revenue- Mortgage interest income: $0.29 million versus the five-analyst average estimate of $0.28 million. The reported number represents a year-over-year change of +8.2%.
Revenue- Rental income- Percentage rents: $4.37 million versus the four-analyst average estimate of $4.54 million. The reported number represents a year-over-year change of +12.3%.
Revenue- Rental income- Other: $14.29 million versus $12.90 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -13.7% change.
Revenue- Rental income- Cost reimbursement: $51.22 million versus $50.71 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +10.3% change.
Net Earnings Per Share (Diluted): $0.72 compared to the $0.66 average estimate based on five analysts.
View all Key Company Metrics for Federal Realty Investment Trust here>>>
Shares of Federal Realty Investment Trust have returned +4% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Federal Realty Investment Trust (FRT) : Free Stock Analysis Report
