Federal Realty Misses Q3 FFO Estimates, Raises '24 Guidance
Healthy leasing activity and occupancy levels at its properties drive Federal Realty's Q3 results.
Federal Realty Investment Trust (FRT) Q3 2024 Earnings Call Transcript
Federal Realty Investment Trust (NYSE:FRT ) Q3 2024 Earnings Conference Call October 30, 2024 5:00 PM ET Corporate Participants Leah Brady - Vice President, Investor Relations Don Wood - Chief Executive Officer Jeff Berkus - President and Chief Operating Officer Dan Gee - Executive Vice President, Chief Financial Officer and Treasurer Jan Sweetnam - Executive Vice President, Chief Investment Officer Wendy Seher - Executive Vice President, Eastern Region President Conference Call Participants Andrew Reale - Bank of America Juan Sanabria - BMO Alexander Goldfarb - Piper Sandler Michael Goldsmith - UBS Craig Mailman - Citi Greg McGinniss - Scotiabank Steve Sakwa - Evercore ISI Floris van Dijkum - Compass Point Dori Kesten - Wells Fargo Mike Mueller - JPMorgan Linda Tsai - Jefferies Paulina Rojas - Green Street Haendel St. Juste - Mizuho Operator 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.
Compared to Estimates, Federal Realty Investment Trust (FRT) Q3 Earnings: A Look at Key Metrics
While the top- and bottom-line numbers for Federal Realty Investment Trust (FRT) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Federal Realty Investment Trust (FRT) Misses Q3 FFO Estimates
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.
What's in Store for Federal Realty in This Earnings Season?
FRT's third-quarter results are likely to benefit from the healthy demand for its retail assets, though higher interest expenses may dampen the results.
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Federal Realty: A Dividend King Fit For Retirees
Federal Realty Investment Trust is ideal for retirees due to its stable, reliable income and strong fundamentals, including a 57-year dividend increase streak. FRT reported record FFO and revenue in Q2'24, with high leasing volumes and improved occupancy, signaling resilience and solid growth execution. The REIT has improved its balance sheet, with a well-laddered debt structure and investment-grade credit ratings, positioning it favorably for lower interest rates.
Here's Why You Should Retain Federal Realty Stock for Now
A solid tenant roster and the redevelopment/expansion of mixed-use assets are likely to support FRT. E-commerce adoption choppiness in the job market raises concerns.
Federal Realty Investment Trust (FRT) Bank of America 2024 Global Real Estate Conference (Transcript)
Federal Realty Investment Trust (NYSE:FRT ) Bank of America 2024 Global Real Estate Conference September 10, 2024 12:45 PM ET Company Participants Don Wood - CEO Dan Gee - CFO Leah Andress Brady - VP, IR Conference Call Participants Jeffrey Spector - Bank of America Jeffrey Spector Roundtable session with Federal Realty Investment Trust. I hope everyone had a good networking lunch, a little bit of coffee as we emerge for the afternoon sessions.
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Federal Realty is a Dividend King for those worried about dividend consistency. Realty Income is an industry-leading net-lease REIT with an attractive 5% yield.
Federal Realty: Collect Up To 6% Yield From This Dividend King
Federal Realty Trust is a Dividend King with strategic high-barrier market presence, and strong tenant demand, making it a resilient REIT. FRT offers a near 4% yield, with potential for market-beating returns due to industry-leading rent bumps, development potential, and a solid balance sheet. Despite recent gains, FRT remains attractively valued with a valuation below its historical average, presenting a good long-term investment opportunity.
Federal Realty Investment: Provides Stability But Underwhelming Growth (Downgrade)
Federal Realty Investment Trust (FRT) offers stability with over 55 years of consecutive dividend increases, making it a reliable choice for dividend investors. Despite a diverse portfolio of tenants and solid Q2 earnings, FRT appears overvalued with a price to FFO ratio higher than the sector median. FRT's exposure to mixed-use office properties poses a risk due to the growing trend of remote work, potentially impacting future earnings.
