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Federal Realty Investment Trust (FRT) Q1 2021 Earnings Call Transcript


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 ....

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Federal Realty Investment Trust Announces First Quarter 2021 Operating Results


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%. ....

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