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Operator
Greetings, and welcome to the Federal Realty Investment Trust First Quarter 2021 Earnings Conference Call. [Operator Instructions]
I would now like to turn the conference over to your host, Leah Brady.
Leah Andress Brady
Investor Relations Associate
Good morning. Thank you for joining us today for Federal Realty s First Quarter 2021 Earnings Conference Call. Joining me on the call are Don Wood; Dan G.; Jeff Berkes; Wendy Seher; Dawn Becker; and Melissa Solis. They will be available to take your questions at the conclusion of our prepared remarks. A reminder that certain matters discussed on this call may be deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include any annualized or projected information as well as statements referring to expected or anticipated events or results, including guidance. Although Federal Realty believes the expectations reflected in such forward-l
Federal Realty Investment Trust Announces First Quarter 2021 Operating Results
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NORTH BETHESDA, Md., May 5, 2021 /PRNewswire/ Federal Realty Investment Trust (NYSE:FRT) today reported operating results for its first quarter ended March 31, 2021. For the three months ended March 31, 2021 and 2020, net income available for common shareholders was $0.60 per diluted share and $0.70 per diluted share, respectively.
Highlights for the quarter and subsequent events include:
Generated funds from operations available to common shareholders (FFO) per diluted share of $1.17 for the quarter compared to $1.50 for the first quarter 2020.
Signed leases for 506,307 square feet of comparable space in the first quarter at an average rent of $36.58 psf and achieved cash basis rollover growth of 9%.
Federal Realty Investment Trust: Q1 Earnings Snapshot
May 5, 2021
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NORTH BETHESDA, Md. (AP) Federal Realty Investment Trust (FRT) on Wednesday reported a key measure of profitability in its first quarter. The results exceeded Wall Street expectations.
The North Bethesda, Maryland-based real estate investment trust said it had funds from operations of $91.1 million, or $1.17 per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.02 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
Federal Realty Q1 Results Beat Street View
WASHINGTON (dpa-AFX) - Federal Realty Investment Trust (FRT) on Wednesday reported first-quarter net income of $46.2 million or $0.60 per share, down from $52.8 million or $0.70 per share in the year-ago quarter.
On average, 3 analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share in the quarter. Analysts estimates, usually, exclude one-time items.
During the quarter, funds from operations or FFO came in at $91.1 million or $1.17 per share, lower than $114.3 million or $1.50 per share in the same period last year.
Quarterly revenues declined to $218.2 million from $231.6 million in the previous-year period while analysts were expecting revenues of $209.5 million in the period.