Federal Realty raises annual FFO target on strong leasing demand

Federal Realty Investment Trust

Federal Realty Investment Trust

FRT

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May 1 (Reuters) - Federal Realty Investment Trust FRT.N raised its annual core profit forecast on Friday, helped by strong leasing demand at its grocery-anchored shopping centers.

  • The company expects full-year 2026 core funds from operations, a key performance measure for REITs, to be between $7.46 and $7.55 per share, compared with its prior forecast of $7.42 to $7.52.

  • It reported core FFO of $1.88 per share for the first quarter, above analysts' average estimate of $1.82 per share, according to data compiled by LSEG.

  • "Our portfolio is performing well amid a volatile macro environment," said CEO Donald Wood.

  • Peer Kimco Realty KIM.N also beat quarterly expectations on Thursday.

  • Federal Realty's total revenue for the three months ended March 31 was $341.1 million, compared with the estimate of $331.1 million.

  • Revenue from rental income rose 10% to $332.7 million during the quarter.


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