On February 17, 2026, Masterton Capital Management, LP disclosed a sale of 72,100 shares of Federal Realty Investment Trust (NYSE:FRT), an estimated $7.10 million trade based on quarterly average pricing. What Happened According to a February 17, 2026, SEC filing, Masterton Capital Management, LP reduced its position in Federal Realty Investment Trust by 72,100 shares during the fourth quarter of 2025. The estimated value of shares sold was approximately $7.10 million, calculated using the average closin ...

Federal Realty Promotes Jeff Kreshek to Executive Vice President [Accessibility Statement] Skip NavigationPromotion underscores the depth of Federal's leadership and the strategic importance of its West Coast portfolio.NORTH BETHESDA, Md., Feb. 23, 2026 /PRNewswire/ -- [Federal Realty Investment Trust] (NYSE:FRT) has named [Jeff Kreshek] Executive Vice President, Western Region President & Chief Operating Officer. The promotion recognizes Kreshek's leadership and the role of the West Coast portfolio as a co ...

Core Viewpoint - Federal Realty Investment Trust (FRT) is recognized as one of the highest-quality retail REITs in the public markets, supported by a long-standing dividend history and a strong portfolio [2]. Group 1: Financial Performance - After reviewing Q4 2025 results, the valuation, credit metrics, and capital structure positioning, the recommendation is to maintain a "Hold" on the common stock [2]. Group 2: Investment Strategy - The investment group led by Denislav Iliev focuses on identifying mispriced investments in fixed-income and closed-end funds, utilizing straightforward financial logic [2]. - The service includes frequent picks for mispriced preferred stocks and baby bonds, weekly reviews of over 1200 equities, IPO previews, hedging strategies, and an actively managed portfolio [2].

Core Insights - Albert Anthony is a Croatian-American business author and analyst contributing to Seeking Alpha with over 1,000 followers [1] - He has authored a book titled "Real Estate Investment Trusts (REITs): A Fundamental Analysis (2026 Edition)" available on Amazon [1] - Anthony has a background in business and information systems, having worked at Charles Schwab in the IT department [1] - He operates his own boutique equities research firm, Albert Anthony & Company, remotely [1] - The author has participated in numerous business and innovation conferences and has hosted a program for Online Live TV Croatia [1] - He holds a B.A. in Political Science and various certifications including Microsoft Fundamentals and Risk Management specialization from CFI [1] - Anthony is also active on YouTube discussing REITs and is an investor in REIT stocks [1] Company and Industry Summary - Albert Anthony & Company is a Texas-registered business focused on equities research [1] - The firm provides general market commentary and research based on publicly available data [1] - The author does not engage with non-publicly traded companies, small cap stocks, or startup CEOs [1]

Core Viewpoint - Consistency is rare in the real estate sector, highlighting the cyclicality of the industry [1] Group 1: Industry Insights - The article discusses the cyclicality of real estate, indicating that market conditions can fluctuate significantly over time [1]

Core Insights - Federal Realty Investment Trust (FRT) reported a fourth-quarter 2025 core funds from operations (FFO) per share of $1.84, slightly missing the Zacks Consensus Estimate of $1.86, but showing an increase from $1.76 in the prior-year quarter [1][9] - Quarterly revenues reached $336.1 million, exceeding the consensus mark of $329.0 million and reflecting a year-over-year improvement of 1.9% [1] Leasing Activity - In 2025, FRT achieved a historic high in total leasing activity, executing 2.5 million square feet of retail leases, with comparable rent spreads increasing by 15% on a cash basis and 27% on a straight-line basis [2][9] - During Q4, FRT signed 109 leases for 612,978 square feet of retail space, with an average rent of $39.09 per square foot, representing a 12% increase on a cash basis and a 24% increase on a straight-line basis [3] Operational Performance - Comparable property operating income (POI) grew by 3.1% in Q4, excluding lease termination fees and prior-period rents collected [3] - The comparable portfolio occupancy rate increased by 50 basis points year over year to 94.5% as of December 31, 2025, with a leasing rate of 96.6% [4] Financial Position - FRT ended the quarter with approximately $1.3 billion in total liquidity, which includes cash and availability under its revolving credit facility, supporting its development and acquisition pipeline [6] - The company completed the acquisition of two properties for a total of $340 million during Q4, expanding into new markets and strengthening its existing presence [7] Dividend and Guidance - FRT maintained its regular quarterly cash dividend of $1.13 per share, indicating an annualized rate of $4.52 per share, reinforcing its position as a consistent dividend grower [11] - For full-year 2026, FRT expects core FFO per share in the range of $7.42-$7.52, implying growth of 5.1-6.5% from 2025 levels [12]

Core Insights - Federal Realty Investment Trust reported a strong performance in Q4 2025, with solid leasing activity and a positive outlook for 2026 despite refinancing challenges [3][6]. Property Operations - The portfolio ended the year 96.1% leased and 94.1% occupied, with figures slightly higher when excluding newly acquired centers [1] - Comparable property operating income (POI) growth averaged 3.8% for the year and 3.1% for Q4, with cash basis POI metrics at 3.6% for the year and 4.3% for the quarter [1] Financial Performance - The company achieved 6.4% bottom-line FFO growth in Q4 and 4.3% for the full year, with FFO per share at $1.84 for the quarter [2] - Guidance for 2026 NAREIT/core FFO is set at $7.42 to $7.52 per share, indicating a core FFO growth of approximately 5.8% compared to 2025 [6][17] Leasing Activity - 2025 marked the highest annual square footage leased in company history, with 601,000 square feet of comparable leasing in Q4 and 2.3 million square feet for the year [5][7] - The company signed 105 comparable deals in Q4, achieving a 12% rollover, and 20 non-comparable deals generating an incremental $6.3 million of new rent [7][8] Acquisitions and Dispositions - Federal Realty closed nearly $340 million in acquisitions, adding approximately 1 million square feet at low-7% initial cash yields [4][9] - The company sold Bristol Plaza and Pallas for a combined $169 million, with a subsequent sale of Misora for nearly $150 million [10] Residential Development - The company has committed $280 million to residential development projects, with additional potential of $400 million to $500 million in peripheral residential products to be monetized [11][13] - New residential projects include Willow Grove Shopping Center, which will feature 261 apartments alongside a re-merchandised shopping center [12] Balance Sheet and Liquidity - At year-end, liquidity stood at $1.3 billion, with plans to refinance a $400 million bond maturity using a $250 million delayed draw term loan [14] - Annualized adjusted net debt to EBITDA was 5.7x at year-end, with expectations to trend toward the low- to mid-5x range [15] Core FFO Metric - The company introduced a "core FFO" metric to adjust for non-recurring items, aimed at improving comparability for investors [16]

Core Insights - Federal Realty Investment Trust (FRT) reported a revenue of $336.05 million for the quarter ended December 2025, marking a year-over-year increase of 7.9% and exceeding the Zacks Consensus Estimate of $328.96 million by 2.15% [1] - The earnings per share (EPS) for the same period was $1.84, compared to $0.75 a year ago, although it fell short of the consensus EPS estimate of $1.86 by 0.97% [1] Revenue Breakdown - Mortgage interest income was reported at $0.28 million, matching the five-analyst average estimate with no year-over-year change [4] - Rental income from percentage rents was $6.91 million, exceeding the $6.36 million average estimate and reflecting a year-over-year increase of 21.1% [4] - Other lease-related rental income was reported at $6.71 million, which was below the three-analyst average estimate of $8.97 million, showing a significant year-over-year decline of 50.6% [4] - Total rental income was $327.54 million, surpassing the three-analyst average estimate of $323.79 million, with a year-over-year increase of 7.8% [4] - Cost reimbursement revenue was $67.55 million, exceeding the three-analyst average estimate of $64.73 million, representing a year-over-year increase of 13.2% [4] Stock Performance - Shares of Federal Realty Investment Trust have returned +4.8% over the past month, contrasting with the Zacks S&P 500 composite's -0.3% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Insights - Federal Realty Investment Trust reported a strong quarter with a 6.4% growth in FFO for Q4 and a 4.3% growth for the year, with guidance for 2026 indicating a midpoint growth of nearly 6% [1][18][23] - The overall portfolio ended the year with a leasing rate of 96.1% and an occupancy rate of 94.1%, reflecting strong demand across both historical and newer markets [1][12] Financial Performance - FFO per share for Q4 was $1.84, slightly below guidance due to a noncash charge related to Saks' bankruptcy [18][62] - Comparable POI growth averaged 3.8% for the year and 3.1% for Q4, with cash basis metrics at 3.6% and 4.3% respectively [18] - The company closed on a $250 million delayed draw term loan, enhancing financial flexibility [19] Leasing and Acquisitions - In Q4, 601,000 square feet of comparable deals were completed at a 12% rollover, with 2.3 million square feet for the year at a 15% rollover, resulting in an incremental $11 million of new rent under contract [4][12] - The company acquired properties like Annapolis Town Center and Village Pointe, adding nearly 1 million square feet for $340 million with initial cash-on-cash yields in the low 7% range [5][6] Dispositions and Development - The company sold Bristol Plaza and Palisades for a combined $169 million, with a low 5% cap rate [6][21] - A total of $280 million has been allocated for new residential developments, adding over 500 units to the portfolio [8][20] Market Outlook - The company anticipates strong demand across all categories, particularly in California, which is expected to be a significant growth driver [10][55] - Guidance for 2026 includes comparable POI growth forecasted at 3% to 3.5%, with expectations for occupancy to improve by year-end [24][48] Strategic Focus - The company aims to drive rent growth and maintain disciplined expense management while capitalizing on quality real estate for multi-year growth opportunities [12][13] - The introduction of a new core FFO metric aims to provide enhanced comparability across periods by adjusting for nonrecurring items [22][23]

分组1 - Federal Realty Investment Trust (FRT) reported quarterly funds from operations (FFO) of $1.84 per share, missing the Zacks Consensus Estimate of $1.86 per share, but showing an increase from $1.73 per share a year ago, resulting in an FFO surprise of -0.97% [1] - The company posted revenues of $336.05 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 2.15%, compared to year-ago revenues of $311.44 million, and has topped consensus revenue estimates four times over the last four quarters [2] - The current consensus FFO estimate for the coming quarter is $1.78 on revenues of $327.58 million, and for the current fiscal year, it is $7.42 on revenues of $1.34 billion [7] 分组2 - Federal Realty Investment Trust shares have increased by approximately 6.1% since the beginning of the year, outperforming the S&P 500's gain of 1.4% [3] - The Zacks Industry Rank for REIT and Equity Trust - Retail is currently in the top 28% of over 250 Zacks industries, indicating that the industry outlook can significantly impact stock performance [8] - The estimate revisions trend for Federal Realty Investment Trust was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6]