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Federal Realty (FRT)
NYSE:FRT
Earnings Data
Report Date
May 08, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.68Last Year’s EPS
0.66Same Quarter Last Year
Moderate Buy
Based on 13 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 13, 2025
|% Change Since: -21.70%
|Next Earnings Date:May 08, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong leasing performance, record revenue, and a promising development and acquisition pipeline, indicating a positive outlook for future growth. However, challenges such as higher interest expenses and timing delays on certain projects were noted. Overall, the positives significantly outweighed the negatives.Company Guidance
In the fourth quarter of fiscal year 2024, the company achieved significant milestones, including setting records in leasing, occupancy, and financial performance. The company completed 100 comparable deals totaling 649,000 square feet, with cash rent increasing by 10% and straight-line rent by 21% compared to previous leases. Over the year, 2.4 million square feet of space were leased at 11% higher cash rent and 22% higher straight-line rent. Occupancy reached 96.2% on a lease basis and 94.1% on an occupied basis, marking the highest levels in nearly a decade. The company raised its dividends to $4.40 per share for the 57th consecutive year and achieved total revenues exceeding $300 million for the quarter and $1.2 billion for the year, growing 7% and 6%, respectively. Funds from operations (FFO) per share hit record highs at $1.73 for the quarter and $6.77 for the year, even after a one-time four-cent charge due to an executive's departure. Excluding the charge, FFO per share was $1.77 for the quarter and $6.81 for the year, reflecting growth of 7.9% and 4%, respectively. The company anticipates continued growth in 2025, supported by a strong retail real estate market, favorable supply-demand dynamics, and a diverse portfolio with resilient operators.Record-Breaking Leasing Performance
Achieved 649,000 square feet of leasing in Q4 at 10% more cash rent and 21% more straight-line rent compared to previous leases. Total leasing for 2024 reached nearly 2.4 million square feet, marking a 9% increase over previous records.
Occupancy and Revenue Growth
Occupancy reached 96.2% on a lease basis and 94.1% on an occupied basis, the highest in nearly a decade. Total revenues surpassed $300 million in Q4 and $1.2 billion for the year, growing 7% and 6% over prior periods, respectively.
Promising Development and Acquisition Plans
Approved new developments in Hoboken, NJ, and Philadelphia, PA, with expected yields of 6% to 8%. Additionally, a $123.5 million acquisition in Northern California is expected to close soon.
Strong Financial Metrics
FFO per share for the year was $6.77, reflecting a 4% growth. POI increased by 5.4% for the full year and 6.8% for Q4.
Improved Financial Flexibility
Net debt to EBITDA improved to 5.5 times, and liquidity stood at $1.4 billion, with no material debt maturities in 2025.
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FRT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FRT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 13, 2025 | $110.56 | $103.85 | -6.07% |
| Oct 30, 2024 | $111.86 | $108.52 | -2.99% |
| Aug 01, 2024 | $109.38 | $109.07 | -0.28% |
| May 02, 2024 | $100.63 | $97.85 | -2.76% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Federal Realty (FRT) report earnings?
Federal Realty (FRT) is schdueled to report earning on May 08, 2025, TBA Not Confirmed.
What is Federal Realty (FRT) earnings time?
Federal Realty (FRT) earnings time is at May 08, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FRT EPS forecast?
FRT EPS forecast for the fiscal quarter 2025 (Q1) is 0.68.
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