Federal Realty Investment Trust Strengthens Its Executive Leadership Structure
Jeffrey S. Berkes promoted to newly created role of President and Chief Operating Officer
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NORTH BETHESDA, Md., Feb. 11, 2021 /PRNewswire/ Federal Realty Investment Trust (NYSE: FRT) today announced the promotion of Jeffrey S. Berkes to President and Chief Operating Officer. In this newly created role, Mr. Berkes will have direct responsibility for overseeing and directing all of Federal s day-to-day property operating functions, including leasing, development and asset management, on both the East and West Coasts. Mr. Berkes will partner in his new role with Wendy A. Seher, an 18-year veteran of the company, who serves as President, Eastern Region, and with Jan Sweetnam, a 24-year veteran of the company, who has been promoted to President, Western Region. Both Ms. Seher and Mr. Sweetnam will report directly to Mr. Berkes who, in his expanded
Federal Realty Investment Trust Announces Operating Results for the Year and Quarter Ended December 31, 2020
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NORTH BETHESDA, Md., Feb. 11, 2021 /PRNewswire/ Federal Realty Investment Trust (NYSE:FRT) today reported operating results for its year and quarter ended December 31, 2020. For the year ended December 31, 2020 and 2019, net income available for common shareholders was $1.62 per diluted share and $4.61 per diluted share, respectively. For the three months ended December 31, 2020 and 2019, net income available for common shareholders was $1.22 per diluted share and $1.92 per diluted share, respectively.
Key Highlights of the full year and quarter include:
Signed leases for 449,783 square feet of comparable space in the fourth quarter at an average rent of $32.16 psf and achieved cash basis rollover growth on those comparable spaces of 1%.