Federal Realty (FRT) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 30, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.71

Last Year’s EPS

0.72

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 13 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 12, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call was predominantly positive: strong operational performance (record leasing, solid comparable POI, high occupancy), accretive acquisitions and disciplined asset recycling, robust liquidity, and defined development pipeline underpin mid-single-digit FFO growth guidance. The main negatives are a near-term financing cost headwind from note refinancings, temporary occupancy disruption from anchor transitions, and a small noncash hit from Saks' bankruptcy. Management guidance and balance-sheet actions indicate these headwinds are manageable and that underlying trends remain constructive for 2026 and 2027.

Company Guidance

Federal Realty guided both Nareit and Core FFO to $7.42–$7.52 per share for 2026 (midpoint $7.47), with Core FFO growth of ~5.8% versus 2025 (Nareit growth ~3.5%); 2025 Core FFO was $7.06 and Nareit FFO $7.22 (a $0.15 difference from new market tax credit income). Key operational assumptions include comparable POI growth of 3.0%–3.5%, comparable lease rollovers in the low‑to‑mid teens, incremental POI from the development/expansion pipeline of $13M–$15M, and an occupancy trajectory dipping to the mid‑93% range in 1H then returning to the mid/upper‑94% range by year‑end; guidance assumes no one‑time adjustments and only the recently announced dispositions. Financial and capital assumptions: guidance reflects a full year contribution from $750M of 2025 acquisitions at ~7.0% blended cash cap (7.5% GAAP cap), assumes refinancing the 1.25% notes at ~4.25%–4.5% (a ~170–180 bps headwind), a credit reserve of ~60–85 bps of rental income, >$100M free cash flow after dividends and maintenance cap in 2026, Q1 FFO of $1.80–$1.83 (Q2/Q3 mid‑$1.80s, Q4 mid‑$1.90s), year‑end liquidity of ~$1.3B, a $250M delayed‑draw term loan at SOFR+85bps maturing in 2031, pro‑forma adjusted net debt/EBITDA inside 5.6x trending to low‑mid‑5x (4Q at 5.7x), fixed charge coverage ~3.9x with a target to exceed 4x, a ~$500M ongoing redevelopment pipeline and ~780 residential units in the development pipeline.

Strong FFO Growth and 2026 Guidance

Fourth-quarter FFO per share $1.84, up 6.4% year-over-year; 2025 full-year Nareit FFO $7.22 and Core FFO $7.06; 2026 guidance Nareit and Core FFO $7.42–$7.52 (midpoint $7.47) representing ~5.8% Core FFO growth vs. 2025.

High Portfolio Occupancy and Leasing Velocity

Portfolio ~96.6% leased and ~94.5% occupied (about +50 bps excluding new acquisitions); Q4 comparable deals 601k sqft (12% rollover) and 2.3M sqft for the year (15% rollover); signed-not-occupied (SNO) spread increased 200 bps contributing ~$27M to in-place POI.

Comparable POI and Cash Rent Momentum

Comparable POI growth averaged 3.8% for 2025 (3.1% Q4); on a cash basis POI was 3.6% for 2025 and 4.3% for Q4; comparable POI guidance for 2026 is 3.0%–3.5% driven by lease rollovers and rent bumps.

Record Leasing and Rent Bumps

Record annual square footage leased in company history with strongest comparable rent spreads in over a decade; Q4 leases had weighted average contractual rent bumps of 2.6%; noncomparable 2025 deals (20) averaged $48.18/sqft producing ~$6.3M incremental rent.

Active and Accretive Transaction Activity

Closed Annapolis Town Center and Village Pointe adding ~1.0M sqft for $340M at initial cash-on-cash yields in the low 7% and targeted unlevered IRRs ~9%; 2025 acquisitions ($750M) expected to contribute at roughly a 7% blended cash cap rate.

Asset Recycling and Attractive Dispositions

Quarterly dispositions closed totaled $169M plus subsequent ~$150M Misora sale and another ~$10M, combined blended cap rate in the low 5s; additional ~$170M of sales in process targeting low-5% cap rates.

Residential Development Pipeline and Yield Profile

Allocated $280M for new residential developments (Blayr at Bala Cynwyd, 301 Washington St, Lot 12 at Santana Row) plus Willow Grove redevelopment adding 261 apartments; underwriting yields ~6.5%–7% with adjacent asset cap rates in low-5% range.

Strong Liquidity and Balance Sheet Actions

Year-end liquidity ~$1.3B (bank facilities + cash); closed $250M delayed draw term loan at SOFR+85bps maturing 2031; pro forma adjusted net debt/EBITDA inside 5.6x (down from 5.7x) and fixed charge coverage 3.9x with target >4x.

Operational Market Strength — California and Suburban Demand

Robust anchor demand particularly in California and durable foot traffic in Greater Washington D.C. (quarterly traffic +3%); mall shops leased 93.8% (up 50 bps) with strong hard goods and home furnishings demand.

Free Cash Flow Visibility

Projected free cash flow after dividends and maintenance capex expected to exceed $100M in 2026, increasing in 2027 as redevelopment projects stabilize and straight-line rent converts to cash.

Federal Realty (FRT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

FRT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 30, 2026	2026 (Q1)	0.71 / -	0.72	―	―	―
Feb 12, 2026	2025 (Q4)	0.74 / 1.48	0.75	97.33% (+0.73)
Oct 31, 2025	2025 (Q3)	0.70 / 0.69	0.7	-1.43% (-0.01)
Aug 06, 2025	2025 (Q2)	0.73 / 1.78	1.32	34.85% (+0.46)
May 08, 2025	2025 (Q1)	0.68 / 0.72	0.66	9.09% (+0.06)
Feb 13, 2025	2024 (Q4)	0.73 / 0.75	0.76	-1.32% (-0.01)
Oct 30, 2024	2024 (Q3)	0.71 / 0.70	0.67	4.48% (+0.03)
Aug 01, 2024	2024 (Q2)	0.70 / 1.32	0.72	83.33% (+0.60)
May 02, 2024	2024 (Q1)	0.67 / 0.66	0.65	1.54% (+0.01)
Feb 12, 2024	2023 (Q4)	0.66 / 0.76	1.4	-45.71% (-0.64)

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

FRT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 12, 2026	$104.75	$104.80	+0.05%
Oct 31, 2025	$93.81	$95.11	+1.39%
Aug 06, 2025	$91.11	$90.31	-0.88%
May 08, 2025	$92.03	$90.36	-1.82%

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.

FAQ

When does Federal Realty Investment Trust (FRT) report earnings?

Federal Realty Investment Trust (FRT) is schdueled to report earning on Apr 30, 2026, After Close (Confirmed).

What is Federal Realty Investment Trust (FRT) earnings time?

Federal Realty Investment Trust (FRT) earnings time is at Apr 30, 2026, After Close (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 2026 (Q1) is 0.71.