Balance Sheet Federal Realty Investment Trust

Equities

FRT

US3137451015

Commercial REITs

Market Closed - Nyse Other stock markets 21:00:02 20/01/2026 GMT			5-day change	1st Jan Change
102.60 ^USD	-1.03%		+0.50%	+1.79%

12:16pm	Truist Lifts Price Target on Federal Realty Investment Trust to $111 From $109, Keeps Hold Rating	MT
01-14	Scotiabank Adjusts Price Target on Federal Realty Investment Trust to $113 From $114, Maintains Sector Outperform Rating	MT

cf9c913c515066d731f6599fd0.uYK1IF0YEC-SsftApibYbt6sj0_0expVYBlDuGEhmWc.3OvASmpIeB7w0qgZn1SHJfP2_XyRCV42BC4ciAhl7yr_r9ZMAktUAtDomA

Published financial data: FEDERAL REALTY INVESTMENT TRUST

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Rental Revenues	832M	949M	1.07B	1.13B	1.17B
Interest Income On Mortgage Securities	3.32M	2.38M	1.09M	1.11M	1.12M
Other Revenues, Total	-8.06M	1.24M	5.17M	3.87M	34.42M
Total Revenues	827M	952M	1.08B	1.14B	1.21B
Property Expenses	284M	309M	349M	355M	384M
Selling General & Admin Expenses, Total	48.11M	57.34M	60.45M	58.68M	57.28M
Depreciation & Amortization - (IS) - (Collected)	255M	280M	302M	322M	343M
Total Operating Expenses	587M	646M	712M	736M	784M
Operating Income (REIT / Utility Template)	241M	306M	368M	400M	421M
Interest Expense, Total	-136M	-128M	-137M	-168M	-175M
Interest and Investment Income	1.89M	809K	1.07M	4.69M	4.29M
Net Interest Expenses	-134M	-127M	-136M	-163M	-171M
EBT, Excl. Unusual Items	106M	179M	232M	237M	250M
Gain (Loss) on Sale of Investments	-	-	70.37M	-	-
Gain (Loss) on Sale of Assets	98.12M	89.95M	93.48M	9.88M	54.04M
Asset Writedown	-57.22M	-	-	-	-
Other Unusual Items	-11.18M	-	-	-	-
EBT, Incl. Unusual Items	136M	269M	396M	247M	304M
Earnings From Continuing Operations	136M	269M	396M	247M	304M
Net Income to Company	136M	269M	396M	247M	304M
Minority Interest	-4.18M	-7.58M	-10.17M	-10.23M	-9.13M
Net Income - (IS)	132M	261M	385M	237M	295M
Preferred Dividend and Other Adjustments	9.03M	9.25M	9.36M	9.32M	9.32M
Net Income to Common Incl Extra Items	123M	252M	376M	228M	286M
Net Income to Common Excl. Extra Items	123M	252M	376M	228M	286M
Per Share Items
Net EPS - Basic	1.62	3.26	4.71	2.8	3.42
Basic EPS - Continuing Operations	1.62	3.26	4.71	2.8	3.42
Basic Weighted Average Shares Outstanding	75.52M	77.34M	79.85M	81.31M	83.56M
Net EPS - Diluted	1.62	3.26	4.71	2.8	3.42
Diluted EPS - Continuing Operations	1.62	3.26	4.71	2.8	3.42
Diluted Weighted Average Shares Outstanding	75.52M	77.37M	80.51M	81.31M	83.57M
Normalized Basic EPS	0.82	1.35	1.69	1.7	1.76
Normalized Diluted EPS	0.82	1.35	1.67	1.7	1.76
Dividend Per Share	4.22	4.26	4.3	4.34	4.38
Payout Ratio	246.45	128.36	90.09	151.57	125.87
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	492M	578M	659M	710M	751M
EBITA	237M	298M	357M	388M	408M
EBIT	241M	306M	368M	400M	421M
EBITDAR	518M	610M	693M	748M	790M
Total Revenues (As Reported)	835M	951M	1.07B	1.13B	1.2B
Normalized Net Income	62.17M	104M	135M	138M	147M
Interest Capitalized	23.43M	22.63M	18.67M	22.6M	20.48M
Interest on Long-Term Debt	29.26M	28.45M	24.41M	26.93M	21.31M
Supplemental Operating Expense Items
Marketing Expenses	6.43M	7.48M	7.81M	7.98M	7.54M
Selling and Marketing Expenses	6.43M	7.48M	7.81M	7.98M	7.54M
General and Administrative Expenses	41.68M	49.86M	52.64M	50.71M	49.74M
Net Rental Expense, Total	26.71M	31.98M	33.72M	37.79M	39.84M
Imputed Operating Lease Interest Expense	8.6M	8.91M	9.69M	12.56M	13.5M
Imputed Operating Lease Depreciation	18.11M	23.07M	24.03M	25.22M	26.33M
Maintenance & Repair Expenses, Total	66.84M	78.03M	90.34M	87.35M	99.37M
Stock-Based Comp., Other (Total)	11.92M	13.01M	13.7M	14.31M	16.36M
Total Stock-Based Compensation	11.92M	13.01M	13.7M	14.31M	16.36M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Gross Property Plant And Equipment	8.68B	9.56B	10.24B	10.64B	11B
Accumulated Depreciation	-2.36B	-2.53B	-2.72B	-2.96B	-3.15B
Net Property Plant And Equipment	6.37B	7.03B	7.53B	7.68B	7.84B
Total Real Estate Assets	6.37B	7.03B	7.53B	7.68B	7.84B
Cash And Equivalents	798M	162M	85.56M	251M	123M
Accounts Receivable, Total	160M	169M	194M	202M	229M
Other Intangibles, Total	11.9M	13.33M	11.84M	5.11M	8.12M
Notes Receivable (Collected)	-	-	3.5M	-	-
Mortgage Loans	39.89M	9.54M	9.46M	9.2M	9.14M
Restricted Cash	18.57M	13.03M	10.79M	9.18M	12.03M
Other Current Assets, Total	193M	211M	239M	244M	-
Trading Asset Securities, Total	-4.71M	-	6.14M	4.67M	5.21M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	22.13M	13.03M	145M	34.87M	294M
Total Assets	7.61B	7.62B	8.23B	8.44B	8.52B
Liabilities
Current Portion of Long-Term Debt	429M	5.61M	275M	604M	840M
Current Portion of Leases	10.88M	11M	65.49M	6.53M	6.61M
Long-Term Debt	3.86B	4.04B	4.05B	4B	3.63B
Long-Term Leases	134M	134M	79.92M	82.01M	81.01M
Accounts Payable, Total	224M	230M	187M	171M	179M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	88.44M	91.74M	109M	111M	114M
Other Non Current Liabilities	173M	230M	251M	241M	246M
Total Liabilities	4.92B	4.75B	5.02B	5.21B	5.1B
Preferred Stock Redeemable	150M	150M	150M	150M	150M
Preferred Stock Convertible	10M	10M	9.82M	9.82M	9.82M
Total Preferred Equity	160M	160M	160M	160M	160M
Common Stock, Total	771K	790K	818K	833K	862K
Additional Paid In Capital	3.3B	3.49B	3.82B	3.96B	4.25B
Distributions In Excess Of Earnings	-988M	-1.07B	-1.03B	-1.16B	-1.24B
Comprehensive Income and Other	-5.64M	-2.05M	5.76M	4.05M	4.74M
Total Common Equity	2.3B	2.42B	2.79B	2.8B	3.01B
Minority Interest	222M	296M	258M	262M	253M
Total Equity	2.69B	2.88B	3.21B	3.23B	3.42B
Total Liabilities And Equity	7.61B	7.62B	8.23B	8.44B	8.52B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	76.75M	78.62M	81.35M	82.99M	85.68M
ECS Total Common Shares Outstanding	76.73M	78.6M	81.34M	82.78M	85.67M
Book Value / Share	30.03	30.8	34.35	33.87	35.16
Tangible Book Value	2.29B	2.41B	2.78B	2.8B	3B
Tangible Book Value Per Share	29.88	30.63	34.21	33.81	35.06
Total Debt	4.44B	4.19B	4.47B	4.69B	4.56B
Net Debt	3.64B	4.03B	4.38B	4.43B	4.43B
Debt Equivalent of Unfunded Proj. Benefit Obligation	18M	21M	18M	22M	24M
Debt Equivalent Oper. Leases	214M	256M	270M	302M	319M
Minority Interest, Total (Incl. Fin. Div)	222M	296M	258M	262M	253M
Equity Method Investments, Total	22.13M	13.03M	145M	34.87M	33.46M
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	307	310	314	297	304
Part Time Employees	4	5	8	7	5
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	132M	261M	385M	237M	295M
Depreciation, Depletion & Amortization	255M	280M	302M	322M	343M
Amortization of Goodwill and Intangible Assets - (CF)	-4.04M	-8.46M	-10.83M	-12.43M	-13.49M
Total Depreciation, Depletion & Amortization	251M	272M	292M	309M	329M
(Gain) Loss On Sale of Asset - (CF)	-98.12M	-89.95M	-93.48M	-9.88M	-54.04M
(Gain) Loss on Sale of Investments - (CF)	-	-	-70.37M	-	-
Total Asset Writedown	57.22M	-	-	-	-
(Income) Loss On Equity Investments - (CF)	8.06M	-1.24M	-5.17M	-3.87M	-3.16M
Stock-Based Compensation (CF)	-	-	13.7M	14.31M	16.36M
Change in Accounts Receivable	-6.03M	1.21M	-12.07M	3.47M	-796K
Change in Accounts Payable	5.62M	6.78M	77K	6M	1.55M
Change in Other Net Operating Assets (Collected)	-5.06M	5.1M	9.15M	-6.65M	-3.29M
Other Operating Activities	25.55M	16.43M	-2.14M	6.13M	-6.55M
Cash from Operations	370M	471M	517M	556M	575M
Acquisition of Real Estate Assets, Total	-512M	-807M	-855M	-372M	-521M
Sale of Real Estate Assets, Total	183M	138M	134M	28.45M	99.93M
Net Sale / Acquisition of Real Estate Assets	-328M	-669M	-721M	-343M	-421M
Divestitures	-	-	-4.19M	-	-
Investment in Marketable and Equity Securities, Total	-2.05M	-145K	-16.29M	9.86M	4.74M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-10.27M	31.13M	-3.46M	-	-
Deferred Charges	-15.08M	-21.99M	-22.54M	-23.51M	-30.81M
Other Investing Activities, Total	-12.92M	-	-18.03M	-1.38M	-
Cash from Investing	-368M	-660M	-786M	-358M	-447M
Long-Term Debt Issued, Total	1.49B	-	299M	545M	472M
Total Debt Issued	1.49B	-	299M	545M	472M
Long-Term Debt Repaid, Total	-581M	-278M	-19.44M	-333M	-604M
Total Debt Repaid	-581M	-278M	-19.44M	-333M	-604M
Issuance of Common Stock	99.18M	173M	307M	132M	304M
Repurchase of Common Stock	-4.05M	-3M	-4.9M	-5.02M	-26.16M
Issuance of Preferred Stock	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-325M	-336M	-347M	-359M	-372M
Common & Preferred Stock Dividends Paid	-325M	-336M	-347M	-359M	-372M
Other Financing Activities, Total	-20.56M	-9.65M	-43.8M	-12.99M	-25.71M
Cash from Financing	662M	-453M	190M	-33.85M	-252M
Net Change in Cash	663M	-642M	-78.82M	164M	-125M
Supplemental Items
Cash Interest Paid	130M	124M	131M	159M	169M
Cash Income Tax Paid (Refund)	580K	386K	624K	284K	177K
Net Debt Issued / Repaid	912M	-278M	279M	211M	-133M
Levered Free Cash Flow	228M	312M	262M	372M	388M
Unlevered Free Cash Flow	313M	392M	348M	476M	497M
Change In Net Working Capital	32.44M	11.97M	79.87M	388K	4.38M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	2.09	2.51	2.9	3	3.11
Return on Total Capital	2.24	2.7	3.11	3.21	3.31
Return On Equity %	4.98	9.67	13	7.68	9.15
Return on Common Equity	5.24	10.68	14.43	8.13	9.83
Margin Analysis
Gross Profit Margin %	65.71	67.54	67.67	68.74	68.13
SG&A Margin	5.81	6.02	5.6	5.17	4.75
EBITDA Margin %	59.41	60.64	61.07	62.48	62.26
EBITA Margin %	28.58	31.24	33.06	34.16	33.84
EBIT Margin %	29.07	32.13	34.06	35.25	34.96
Income From Continuing Operations Margin %	16.42	28.25	36.65	21.76	25.24
Net Income Margin %	15.92	27.45	35.71	20.86	24.49
Net Avail. For Common Margin %	14.83	26.48	34.84	20.04	23.71
Normalized Net Income Margin	7.51	10.96	12.48	12.16	12.22
Levered Free Cash Flow Margin	27.5	32.79	24.27	32.71	32.16
Unlevered Free Cash Flow Margin	37.8	41.17	32.2	41.94	41.26
Asset Turnover
Asset Turnover	0.11	0.13	0.14	0.14	0.14
Fixed Assets Turnover	0.13	0.14	0.15	0.15	0.16
Receivables Turnover (Average Receivables)	5.33	5.77	5.91	5.71	5.43
Short Term Liquidity
Current Ratio	1.55	1.64	0.85	0.8	0.32
Quick Ratio	1.27	0.98	0.45	0.51	0.31
Operating Cash Flow to Current Liabilities	0.49	1.39	0.81	0.62	0.5
Days Sales Outstanding (Average Receivables)	68.69	63.24	61.75	63.88	67.38
Average Days Payable Outstanding	307.36	268.03	218.08	184.11	166.86
Long Term Solvency
Total Debt/Equity	165.12	145.78	139.3	145.33	133.2
Total Debt / Total Capital	62.28	59.31	58.21	59.24	57.12
LT Debt/Equity	148.75	145.2	128.7	126.41	108.48
Long-Term Debt / Total Capital	56.11	59.08	53.78	51.52	46.52
Total Liabilities / Total Assets	64.69	62.26	60.99	61.77	59.83
EBIT / Interest Expense	1.77	2.4	2.68	2.39	2.4
EBITDA / Interest Expense	3.8	4.77	5.06	4.45	4.5
(EBITDA - Capex) / Interest Expense	3.3	4.21	4.27	3.88	3.89
Total Debt / EBITDA	8.56	6.88	6.46	6.27	5.77
Net Debt / EBITDA	7.03	6.61	6.32	5.93	5.61
Total Debt / (EBITDA - Capex)	9.85	7.8	7.64	7.21	6.68
Net Debt / (EBITDA - Capex)	8.09	7.5	7.49	6.81	6.49
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-11.39	15.11	13.34	5.23	6.13
Gross Profit, 1 Yr. Growth %	-15.37	18.32	13.56	6.89	5.18
EBITDA, 1 Yr. Growth %	-16.14	17.49	14.16	7.66	5.77
EBITA, 1 Yr. Growth %	-31.73	25.81	19.94	8.72	5.19
EBIT, 1 Yr. Growth %	-31.76	27.21	20.16	8.9	5.25
Earnings From Cont. Operations, 1 Yr. Growth %	-62.31	98.02	47.04	-37.52	23.1
Net Income, 1 Yr. Growth %	-62.78	98.55	47.42	-38.52	24.57
Diluted EPS Before Extra, 1 Yr. Growth %	-64.86	101.23	44.38	-40.51	22.15
Normalized Net Income, 1 Yr. Growth %	-57.39	67.88	29.06	2.52	6.67
Net Property, Plant and Equip., 1 Yr. Growth %	2.27	10.41	7.07	1.96	2.17
Accounts Receivable, 1 Yr. Growth %	4.72	5.77	14.88	3.91	13.56
Total Assets, 1 Yr. Growth %	11.96	0.19	8.02	2.46	1.05
Common Equity, 1 Yr. Growth %	-3	5.05	15.43	0.34	7.42
Tangible Book Value, 1 Yr. Growth %	-2.86	5.02	15.58	0.37	7.54
Cash From Operations, 1 Yr. Growth %	-19.91	27.42	9.64	7.56	3.37
Capital Expenditures, 1 Yr. Growth %	-17.83	5.38	50.09	-9.84	10.48
Levered Free Cash Flow, 1 Yr. Growth %	-46.43	37.22	-16.11	54.47	-35.45
Unlevered Free Cash Flow, 1 Yr. Growth %	-36.6	25.37	-11.35	46.08	-29.5
Dividend Per Share, 1 Yr. Growth %	1.93	0.95	0.94	0.93	0.92
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.75	1	14.22	9.21	5.68
Gross Profit, 2 Yr. CAGR %	-7.26	0.07	15.92	10.17	6.03
EBITDA, 2 Yr. CAGR %	-8.26	-0.74	15.81	10.86	6.72
EBITA, 2 Yr. CAGR %	-16.57	-7.32	22.84	14.19	6.96
EBIT, 2 Yr. CAGR %	-16.66	-6.83	23.64	14.39	7.06
Earnings From Cont. Operations, 2 Yr. CAGR %	-26.13	-13.61	70.64	-4.15	-12.3
Net Income, 2 Yr. CAGR %	-26.21	-14.04	71.08	-4.8	-12.49
Diluted EPS Before Extra, 2 Yr. CAGR %	-28.61	-15.91	70.45	-7.33	-14.76
Normalized Net Income, 2 Yr. CAGR %	-33.61	-15.42	47.2	15.03	4.57
Net Property, Plant and Equip., 2 Yr. CAGR %	5.3	6.26	8.73	4.49	2.07
Accounts Receivable, 2 Yr. CAGR %	5.99	5.25	10.23	9.25	8.62
Total Assets, 2 Yr. CAGR %	9.98	5.91	4.04	5.21	1.75
Common Equity, 2 Yr. CAGR %	2.67	0.95	10.12	7.62	3.82
Tangible Book Value, 2 Yr. CAGR %	2.76	1	10.17	7.82	3.79
Cash From Operations, 2 Yr. CAGR %	-15.39	1.02	18.19	8.59	5.44
Capital Expenditures, 2 Yr. CAGR %	1.45	-6.95	25.76	16.32	-0.2
Levered Free Cash Flow, 2 Yr. CAGR %	-15.12	-14.26	7.29	9.09	26.96
Unlevered Free Cash Flow, 2 Yr. CAGR %	-9.84	-10.85	5.42	10.24	23.5
Dividend Per Share, 2 Yr. CAGR %	2.2	1.44	0.94	0.93	0.93
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-1.16	1.46	4.95	11.14	8.17
Gross Profit, 3 Yr. CAGR %	-2.86	0.59	4.38	12.83	8.48
EBITDA, 3 Yr. CAGR %	-3.3	-0.37	4	13.03	9.13
EBITA, 3 Yr. CAGR %	-10.29	-4.33	1	17.94	11.09
EBIT, 3 Yr. CAGR %	-10.17	-4.04	1.42	18.52	11.26
Earnings From Cont. Operations, 3 Yr. CAGR %	-23.02	2.62	3.15	22.08	4.19
Net Income, 3 Yr. CAGR %	-23.13	2.63	2.89	21.63	4.12
Diluted EPS Before Extra, 3 Yr. CAGR %	-25.83	0.84	0.7	20.01	1.61
Normalized Net Income, 3 Yr. CAGR %	-23.19	-9.56	-2.63	30.48	12.17
Net Property, Plant and Equip., 3 Yr. CAGR %	3.41	6.98	6.53	6.42	3.71
Accounts Receivable, 3 Yr. CAGR %	-8.69	5.92	8.36	8.08	10.67
Total Assets, 3 Yr. CAGR %	6.63	6.62	6.61	3.51	3.8
Common Equity, 3 Yr. CAGR %	3.03	3.46	5.56	6.76	7.56
Tangible Book Value, 3 Yr. CAGR %	3.75	3.51	5.65	6.88	7.66
Cash From Operations, 3 Yr. CAGR %	-6.93	-3.01	3.81	14.54	6.82
Capital Expenditures, 3 Yr. CAGR %	-4.01	2.74	9.13	12.56	14.34
Levered Free Cash Flow, 3 Yr. CAGR %	5.4	-0.38	-14.88	17.76	7.49
Unlevered Free Cash Flow, 3 Yr. CAGR %	6.78	0.63	-11.02	15.07	8.26
Dividend Per Share, 3 Yr. CAGR %	2.14	1.78	1.27	0.94	0.93
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	2.11	3.51	4.73	4.49	5.24
Gross Profit, 5 Yr. CAGR %	0.85	2.94	4.25	4.32	5.04
EBITDA, 5 Yr. CAGR %	0.74	2.4	3.93	3.98	5.07
EBITA, 5 Yr. CAGR %	-4.58	-1.4	1.72	2.69	3.33
EBIT, 5 Yr. CAGR %	-4.42	-0.95	2.07	2.95	3.64
Earnings From Cont. Operations, 5 Yr. CAGR %	-9.06	0.78	5.84	-0.15	-3.33
Net Income, 5 Yr. CAGR %	-8.93	0.91	5.86	-0.41	-3.56
Diluted EPS Before Extra, 5 Yr. CAGR %	-11.77	-1.41	3.46	-2.51	-5.8
Normalized Net Income, 5 Yr. CAGR %	-12.69	-4.67	-0.36	-0.42	0.19
Net Property, Plant and Equip., 5 Yr. CAGR %	7.24	7.07	5.51	5.97	4.72
Accounts Receivable, 5 Yr. CAGR %	7.67	7.68	-1.55	7.24	8.47
Total Assets, 5 Yr. CAGR %	9.21	7.04	5.58	6.05	4.64
Common Equity, 5 Yr. CAGR %	6.86	4.24	5.81	5.1	4.86
Tangible Book Value, 5 Yr. CAGR %	6.96	4.44	6.27	5.21	4.94
Cash From Operations, 5 Yr. CAGR %	0.05	1.96	2.41	1.47	4.46
Capital Expenditures, 5 Yr. CAGR %	8.11	4.5	6.95	7.97	5.3
Levered Free Cash Flow, 5 Yr. CAGR %	-0.08	-1.52	6.15	3.3	-1.81
Unlevered Free Cash Flow, 5 Yr. CAGR %	1.78	-0.22	6.23	4.37	0.17
Dividend Per Share, 5 Yr. CAGR %	3.11	2.1	1.66	1.44	1.13