Federal Realty Investment Trust(FRT)
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3 Top REIT Stocks to Buy in November
The Motley Fool· 2024-11-09 16:12
From a high yield to rapid dividend growth, this trio of REITs covers a lot of ground. All are worth a deep dive as November gets under way.Real estate investment trusts (REITs) are designed to pass income on to investors in a tax-advantageous manner. But all REITs are not the same, not by a long shot. Those in search of a high yield will want to look at W. P. Carey (WPC 1.85%) in November. Dividend growth types should dig into Rexford Industrial Realty (REXR 1.22%). And for investors who think dividend rel ...
Federal Realty Misses Q3 FFO Estimates, Raises '24 Guidance
ZACKS· 2024-11-01 01:20
Federal Realty Investment Trust’s (FRT) third-quarter 2024 funds from operations (FFO) per share of $1.71 narrowly missed the Zacks Consensus Estimate of $1.72. However, this marked a rise of 3.6% from the year-ago quarter’s tally of $1.65. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Results reflect healthy leasing activity and significant occupancy gains at its properties. FRT has also tightened and increased its guidance for 2024 FFO per share.Quarterly revenues of $303.6 mill ...
Federal Realty Investment Trust(FRT) - 2024 Q3 - Earnings Call Transcript
2024-10-31 08:50
财务数据和关键指标变化 - 第三季度每股基金运营收益(FFO)为1.71美元,创下历史新高,超出季度指导范围中点 [22] - 租金收入增长主要受更高的入住率推动,管理费用降低,但受到较低的租赁费用和较高的物业费用影响 [23] - 年初至今的可比增长在不考虑COVID时代的租金和租赁费用影响下为2.9%,现金基础为3.4% [23] 各条业务线数据和关键指标变化 - 住宅业务表现强劲,稳定的住宅物业运营收入同比增长5.5%,包括新开发的达里安项目时增长8.2% [15] - 第三季度结束时,组合物业的租赁率为95.9%,占用率为94%,较上季度分别上升60和90个基点 [12] 各个市场数据和关键指标变化 - 开放式零售市场仍然供不应求,消费者支出持续增长,尤其是富裕家庭的消费模式明显 [12][14] - 预计未来的租金增长将受益于强劲的合同租金增长和租赁回报 [33] 公司战略和发展方向和行业竞争 - 公司计划在现有资产中增加住宅开发,以支持未来的持续增长 [20] - 目前正在进行的收购活动主要集中在超过1亿美元的大型资产上,预计将带来显著的现金回报 [39][40] - 公司在开发和收购方面的灵活性被视为其竞争优势 [44][47] 管理层对经营环境和未来前景的评论 - 管理层对未来的消费支出持乐观态度,认为公司将能够在未来的经济环境中表现良好 [14] - 预计2024年每股FFO指导中点上调至6.81美元,反映出强劲的租金增长和入住率的提升 [27] 其他重要信息 - 公司在第三季度通过自动柜员机(ATM)计划发行了超过1.45亿美元的普通股,以支持投资活动 [25] - 预计2025年将逐步减少资本化利息支出,反映出开发管道的逐步投入使用 [32] 问答环节所有提问和回答 问题: 关于租赁和入住率的增长驱动因素 - 管理层指出,需求强劲,多个租户对空间的需求推动了租金和其他条款的改善 [35][36] 问题: 关于收购机会的资产类型和市场环境 - 管理层表示,正在寻找超过1亿美元的大型资产,当前市场环境提供了良好的收购机会 [39][40] 问题: 关于开发与收购的平衡 - 管理层强调,开发和收购是竞争资本的机会,未来可能会增加住宅开发项目 [44][77] 问题: 关于未来的租金和经营环境 - 管理层预计,租金将继续增长,尤其是在强劲的租赁环境下,未来的租金增长潜力依然存在 [82][86] 问题: 关于资本回收策略 - 管理层表示,持续评估低增长资产的出售与新资本的获取之间的平衡,以优化长期增长 [89][90]
Compared to Estimates, Federal Realty Investment Trust (FRT) Q3 Earnings: A Look at Key Metrics
ZACKS· 2024-10-31 06:31
Federal Realty Investment Trust (FRT) reported $303.63 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 5.9%. EPS of $1.71 for the same period compares to $0.67 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $301.24 million, representing a surprise of +0.79%. The company delivered an EPS surprise of -0.58%, with the consensus EPS estimate being $1.72.While investors closely watch year-over-year changes in headline numbers -- reve ...
Federal Realty Investment Trust (FRT) Misses Q3 FFO Estimates
ZACKS· 2024-10-31 06:15
Federal Realty Investment Trust (FRT) came out with quarterly funds from operations (FFO) of $1.71 per share, missing the Zacks Consensus Estimate of $1.72 per share. This compares to FFO of $1.65 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of -0.58%. A quarter ago, it was expected that this real estate investment trust would post FFO of $1.68 per share when it actually produced FFO of $1.69, delivering a surprise of 0.60%.Over th ...
Federal Realty Investment Trust(FRT) - 2024 Q3 - Quarterly Report
2024-10-31 04:08
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO THE SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-07533 (Federal Realty Investment Trust) Commission file number: 333-262016-01 (Federal Realty OP LP) FEDERAL REALT ...
Federal Realty Investment Trust(FRT) - 2024 Q3 - Quarterly Results
2024-10-31 04:06
财务表现 - 第三季度FFO每股1.71美元,同比增长3.6%[5] - 公司第三季度总收入为3.04亿美元,同比增长6.0%[25] - 第三季度租金收入为3.03亿美元,同比增长6.0%[25] - 第三季度营业利润为1.06亿美元,同比增长5.7%[25] - 前三季度总收入为8.91亿美元,同比增长6.0%[25] - 前三季度净收益为2.30亿美元,同比增长32.8%[25] - 前三季度出售房地产收益为5,228万美元[25] 资产负债情况 - 截至9月30日,现金及现金等价物为9,702万美元[26] - 截至9月30日,总资产为84.79亿美元[26] - 截至9月30日,总负债为51.13亿美元[26] - 截至9月30日,股东权益为31.86亿美元[26] - 2024年9月30日公司总债务为44.73亿美元,总净债务为43.76亿美元[36] - 2024年9月30日公司总净债务占总市值比例为30%[36] - 2024年前三季度公司EBITDAre对利息和优先股股息的覆盖率为3.6倍[36] - 2024年9月30日公司总债务占总资产比例为39%,低于60%的债务限制[36] - 2024年9月30日公司无担保债务占无担保资产比例为255%,高于150%的限制[36] - 公司总债务净额为44.73亿美元,其中87%为固定利率债务,加权平均利率为3.87%[37] 物业经营情况 - 签署126份可比零售租赁合同,现金基础租金增长14%,按直线法增长26%[6] - 第三季度可比物业经营收入增长2.9%,不含租赁终止费和上期收取的租金[6] - 季末物业出租率94.0%,同比增加170个基点,出租率95.9%,同比增加190个基点[7] - 小型商铺出租率93.1%,同比增加240个基点[7] - 公司2024年第三季度总物业收入为2.83亿美元,同比增长2.9%[33] - 2024年第三季度可比物业经营利润为1.92亿美元,同比增长2.0%[33] - 2024年第三季度公司可比物业出租率为95.8%[34] 收购与出售 - 收购加州Pinole Vista Crossing购物中心,面积216,000平方英尺,收购价6000万美元[15] - 公司在2024年9月30日完成了两项收购交易,分别是Virginia Gateway和Pinole Vista Crossing物业[49] - 公司在2024年6月出售了Third Street Promenade物业,获得1.03亿美元的销售收益[50] - 公司在2024年4月以1,240万美元收购了CocoWalk物业剩余10%的非控股权益,实现了100%控股[50] 未来发展计划 - 2024年每股收益指引提高至3.40-3.50美元,FFO每股指引提高至6.76-6.86美元[18] - 公司有多项重大重建和扩张项目正在进行,包括Santana West、Pike & Rose - 915 Meeting Street、Darien Commons、Bala Cynwyd和Huntington,预计投资回报率为5%-8%[42] - 公司正在9处物业进行改善,以更好地满足零售需求,预计2024年将完成8%-13%的改善工程[42] - 公司已确定了多个未来的扩张和改建机会,包括在Assembly Row、Santana Row和Pike & Rose等物业进行商业和住宅开发[46][47] - 公司在Andorra、Bala Cynwyd、Barracks Road等多个物业有扩建和改建的机会[46] - 公司在Bala Cynwyd、Barracks Road、Bethesda Row等多个物业有住宅开发的机会[46] - 公司在Pike 7 Plaza和Pike & Rose等物业有长期的综合开发机会[46] 债务情况 - 公司2026年和2027年将有大量债务到期,分别为10.53亿美元和8.93亿美元,占总债务的43.4%[39,40] - 公司2029年将有9.45亿美元债务到期,占总债务的21%[39,40] - 公司2030年将有4亿美元债务到期,占总债务的8.9%[39,40] - 公司2028年将有3.53亿美元债务到期,占总债务的7.8%[39,40] - 公司2025年将有4,830万美元债务到期,占总债务的1.1%[39,40] - 公司2024年无任何债务到期[39,40] - 公司加权平均剩余债务期限约为6年[40] - 公司在2024年1月发行了3.25%的可交换优先票据,本金额为4.85亿美元,到期日为2029年1月15日[51] - 公司在2024年1月偿还了6亿美元的3.95%优先票据[52] - 公司在2024年1月至9月期间通过ATM股票发行计划共发行了1,996,759股普通股,获得2.183亿美元的募集资金[50]
Federal Realty Investment Trust Announces Third Quarter 2024 Operating Results
Prnewswire· 2024-10-31 04:05
NORTH BETHESDA, Md., Oct. 30, 2024 /PRNewswire/ -- Federal Realty Investment Trust (NYSE:FRT) today reported operating results for its third quarter ended September 30, 2024. For the three months ended September 30, 2024 and 2023, net income available for common shareholders was $0.70 per diluted share and $0.67 per diluted share, respectively. For the three months ended September 30, 2024 and 2023, operating income was $105.8 million and $100.1 million, respectively. Highlights for the third quarter includ ...
What's in Store for Federal Realty in This Earnings Season?
ZACKS· 2024-10-29 23:46
Federal Realty Investment Trust (FRT) , a leading real estate investment trust (REIT) focused on retail properties, is set to report its third-quarter 2024 results on Oct. 30, after market close. In anticipation of the announcement, industry analysts and investors are eager to assess the company's performance and prospects in the current economic climate. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. In the last reported quarter, this retail REIT delivered a surprise of 0.60% in ...
3 Incredibly Reliable High-Yield Stocks to Buy With $1,000 and Hold Forever
The Motley Fool· 2024-10-17 19:45
If you are looking for generous yields and reliable dividends, this trio of dividend stocks has you covered, with yields up to 5%. Finding attractive dividend yields while the S&P 500 index is offering a scant 1.2% yield is pretty hard, but it isn't impossible. One area to look at is real estate investment trusts (REITs), which as a group have a yield of 3.7%, using the Vanguard Real Estate Index ETF as an industry proxy. But you can do even better than that if you are picky, and you don't have to give up y ...