Sector: Real Estate|Industry: REIT - Retail|Market Cap: $9.12B|Employees: 304
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as Northern and Southern California. Founded in 1962, Federal Realty's mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 102 properties include approximately 3,500 tenants, in 27 million commercial square feet, and approximately 3,100 residential units.
Rental income increased to $303.4 million, up from $286.3 million in the prior year, primarily due to a $7.9 million increase from comparable properties and $7.0 million from 2024 acquisitions. This indicates strong underlying performance and successful integration of new properties.
Property operating income increased to $203.7 million from $195.0 million in the prior year. This improvement is attributed to higher rental rates, occupancy, and contributions from acquisitions, demonstrating effective cost management.
Net income attributable to the Trust increased to $229.7 million from $172.9 million in the prior year. This significant increase reflects improved operating performance and strategic asset management.