Federal Realty Investment Trust (NYSE:FRT)
$ 113.65 -1.21 (-1.05%) Market Cap: 9.66 Bil Enterprise Value: 14.38 Bil PE Ratio: 33.04 PB Ratio: 3.27 GF Score: 82/100
Back to the Transcripts List

Q3 2024 Federal Realty Investment Trust Earnings Call Transcript

Oct 30, 2024 / 09:00 PM GMT
Release Date Price: $114.25 (+1.24%)

Key Points

Positve
  • Federal Realty Investment Trust (FRT) reported a record quarterly FFO per share of $1.71, indicating strong financial performance.
  • The company achieved significant leasing productivity with 126 leases for comparable space totaling 581,000 square feet, surpassing previous averages.
  • Leasing rates for new leases were 14% higher than the previous leases, demonstrating strong demand and pricing power.
  • The portfolio ended the third quarter with a 95.9% leased rate and 94% occupancy, showing improvement in occupancy metrics.
  • FRT has over $1.4 billion in available liquidity, positioning it well for future acquisitions and developments.
Negative
  • Higher property-level expenses offset some of the gains from increased rental income.
  • The company experienced lower term fees than forecasted, impacting overall financial performance.
  • There is a potential for increased credit reserves in 2025 due to expectations of a moderating economy.
  • Capitalized interest is expected to decrease as more development projects are completed, potentially impacting short-term earnings.
  • The guidance range for FFO per share remains wide, indicating uncertainty in future financial outcomes.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

FRT.N - Federal Realty Investment Trust
Q3 2024 Federal Realty Investment Trust Earnings Call
Oct 30, 2024 / 09:00PM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Good day and welcome to the Federal Realty Investment Trust Third Quarter of 2024 earnings call.

All participants will be in a listen only mode for the duration of the call.

Should you need any assistance today, please signal a conference specialist by pressing the star key followed by zero.

After today's presentation, there will be an opportunity to ask questions.

To ask a question.

You may press star, then one on your telephone key pad.

And to withdraw a question, please press star then two.

On today's call, we ask that you please limit yourself to only one question during Q&A, may re-prompt.

If you have additional questions also,
Already have an account? Log in
Get the full story
Start 7-Day Free Trial
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot
Research Tools
All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board
Product
Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App 中文
Education
Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation
Company
About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program
Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey
Follow Us
download GuruFocus on Apple store download GuruFocus on Google Play
Disclaimers
GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.
© 2004-2024 GuruFocus.com, LLC. All Rights Reserved.