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Federal Realty (FRT)
NYSE:FRT
Holding FRT?
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Earnings Data
Report Date
Feb 17, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.74Last Year’s EPS
$0.76Same Quarter Last Year
Strong Buy
Based on 12 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -2.04%
|Next Earnings Date:Feb 17, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a strong performance with record-breaking FFO per share, high leasing activity, and increased occupancy. The company successfully raised its guidance for 2024 and demonstrated growth in its apartment business and successful acquisitions. However, the call also noted increased property level expenses and concerns about certain office tenants.Company Guidance
During the Federal Realty Investment Trust's Q3 2024 earnings call, the company reported strong financial performance and provided optimistic guidance for the future. The third quarter saw an all-time record quarterly FFO per share of $1.71, with leasing productivity exceeding expectations, contributing to a portfolio occupancy of 94%. The company executed 126 leases covering 581,000 square feet, with average first-year rents 14% higher than previous leases. Federal Realty raised its 2024 FFO guidance midpoint to $6.81 per share, reflecting a 4% growth, and outlined expectations for continued occupancy growth toward 95% throughout 2025. Daniel Guglielmone highlighted the company's robust liquidity of over $1.4 billion, positioning it well for future acquisitions and developments. The guidance also anticipates a 4% comparable growth in the fourth quarter, driven by strong rent growth and occupancy metrics.Record Quarterly FFO per Share
FFO per share reached an all-time high of $1.71, driven by stronger occupancy, rental income growth, and lower G&A costs.
Strong Leasing Activity
Leasing productivity exceeded goals with 126 leases for 581,000 square feet. Average lease rent increased by 14% over previous leases, with strong contractual bumps.
Increased Occupancy Rates
The portfolio ended with 95.9% leased and 94% occupied, with a 60 and 90 basis point increase from the previous quarter.
Apartment Business Growth
Residential operating income on stabilized properties is up 5.5%, and 8.2% including new developments, with high demand and waiting lists reported.
Successful Acquisitions
Acquisitions such as Virginia Gateway and others exceeded leasing projections, with higher-than-expected rent increases.
Raised 2024 FFO Guidance
FFO guidance raised to a midpoint of $6.81, indicating a 4% growth, driven by stronger rent growth and occupancy.
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FRT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FRT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $114.25 | $110.84 | -2.98% |
| Aug 01, 2024 | $111.72 | $111.40 | -0.29% |
| May 02, 2024 | $102.78 | $99.94 | -2.76% |
| Feb 12, 2024 | $97.62 | $97.95 | +0.34% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Federal Realty (FRT) report earnings?
Federal Realty (FRT) is schdueled to report earning on Feb 17, 2025, TBA Not Confirmed.
What is Federal Realty (FRT) earnings time?
Federal Realty (FRT) earnings time is at Feb 17, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FRT EPS forecast?
FRT EPS forecast for the fiscal quarter 2024 (Q4) is $0.74.
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