Advertisement
Advertisement
U.S. Markets closed
Advertisement
Advertisement
Advertisement
Advertisement

Federal Realty Investment Trust (FRT)

NYSE - NYSE Delayed Price. Currency in USD
Add to watchlist
127.23-0.15 (-0.12%)
At close: 04:00PM EST
127.23 0.00 (0.00%)
After hours: 06:03PM EST
Advertisement
Sign in to post a message.
  • S
    S
    November 05, 2021 (FRT)
    Results reflect better-than-anticipated revenues. The retail REIT also raised its guidance for 2021 and 2022 FFO per share.w

    Quarterly revenues of $247.3 million topped the consensus mark of $229.7 million and improved the year-ago tally by 18.8%.

    According to Donald C. Wood, the company’s chief executive officer, "Collections have improved dramatically, new and exciting retail and office tenants are committing to long term leases at a very brisk pace, and our development and acquisition pipeline have never been more active. We're more confident than ever that the places we create and the markets that we're in are spot on in a post COVID world."

    It also collected about 96% of total third-quarter 2021 billed recurring rents as of Oct 29, 2021.

    Quarter in Details
    During the reported quarter, Federal Realty signed 124 leases for 481,607 square feet of the retail space. On a comparable space basis, the company signed 119 leases for 430,234 square feet of space at an average rent of $40.73 per square foot. This denotes cash-basis rollover growth of 7%, 16% on a straight-line basis.

    As of Sep 30, REIT’s portfolio was 90.2% occupied, denoting a sequential expansion of 60 basis points. The company reported a 260-basis-point spread between leased and occupied.

    During the third quarter, Federal Realty acquired Twinbrooke Shopping Centre in Fairfax, VA, taking the COVID-era off-market acquisitions total to 5 properties, 1.9 million square feet and 135 acres.

    Balance Sheet:
    Federal Realty exited third-quarter 2021 with cash and cash equivalents of $177.6 million, down from $798.3 million recorded at the end of 2020. Along with the undrawn availability under its $1 billion revolving-credit facility, the company’s liquidity amounted to $1.2 billion.

    Outlook:
    Federal Realty raised its guidance for both 2021 and 2022. For 2021, the company now projects FFO per share of $5.45-$5.50 compared with $5.05-$5.15 guided earlier.

    For 2022, REIT now estimates FFO per share of $5.65-$5.85 compared with $5.30-$5.50 projected earlier. 

    Dividend Update:
    Concurrent with the third-quarter earnings release, Federal Realty announced a regular quarterly cash dividend of $1.07 per share, which indicates an annual rate of $4.28 per share. The dividend will be paid out on Jan 18, to shareholders of record as of Jan 3, 2022.
    Bullish
  • P
    Peter
    Somewhere I read they have been increasing dividends for the past 53 years ! ! ! !
    But historical data here on Yahoo says they've paid dividends only since 1987. But dividends also since then have consistently increased.
    This stock has an AA rating from Oxford income newsletter .
  • Y
    Yahoo Finance Insights
    FRT reached a 52 Week high at 126.49
  • S
    S
    Shares of Federal Realty Investment Trust FRT rallied 2.29% in the past two days after the retail REIT announced acquisition of four properties. The acquisitions are a strategic fit for the company, given the scope for value creation through redevelopment, merchandising and capital investment.

    Particularly, Federal Realty has acquired Grossmont Shopping Center in greater San Diego, CA and Chesterbrook Shopping Center in McLean, VA. Further, in the Phoenix Metro area, AZ, the company has entered into a binding contract to buy Camelback Colonnade and Hilton Village. Notably, the assets under binding contract are expected to close by June end. Federal Realty will own an average 80% stake in the four assets, which totals 1.75 million square feet on 125 acres of land, at a gross value of $407 million.
    Bullish
  • h
    howard
    Quality asset. Thought i would comment because very few do on this site.
  • b
    brian
    assets could be a good protection against inflation. FRT owns good assets in good locations and pays good dividend
  • J
    Jim
    Blow out earnings report plus small div increase. Very nice.
  • S
    S
    looking forward to my divided payment. It's about the only reason I'm holding my shares with Fed real.
    Bullish
  • S
    Stockguru
    First time buyer today at $68
  • Y
    Yahoo Finance Insights
    FRT-PC reached a new All Time Low at $20.83
  • E
    Eric
    overall the 4th quarter report looks good. steady as she goes
  • F
    Funken_A
    FRT owns grocery store anchored strip malls in very well to do areas... Their cash flow is solid. I lost on SPG with retail but I don't forsee FRT having the same issues that non grocery store anchored outlet malls or malls in general.

    I also own BRX in this sector
  • A
    Anonymous
    This looks good.
  • R
    Rocco
    9% why?!
  • S
    S
    We have a new 52 week high!
    Bullish
  • K
    Ken
    Does anyone know what the dividend is and when it pays out? There is no thing on the historical data or the summary.
  • S
    Stockguru
    What was everyone thoughts on the earnings? Do we go to $8o from here
  • R
    Ronnie
    Easy buy!
    Bullish
  • c
    carlos
    good dividens 🤑
  • S
    S
    going to be a great weekend!
    Bullish
Advertisement
Advertisement