2013 Q1 Form 10-Q Financial Statement

#000003490313000018 Filed on May 01, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $157.1M $145.7M
YoY Change 7.83% 5.87%
Cost Of Revenue $47.10M $42.20M
YoY Change 11.61% -5.8%
Gross Profit $110.1M $104.1M
YoY Change 5.76% 12.18%
Gross Profit Margin 70.06% 71.43%
Selling, General & Admin $7.100M $7.000M
YoY Change 1.43% 14.75%
% of Gross Profit 6.45% 6.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $40.60M $36.60M
YoY Change 10.93% 19.61%
% of Gross Profit 36.88% 35.16%
Operating Expenses $94.65M $85.74M
YoY Change 10.39% 5.49%
Operating Profit $62.50M $60.19M
YoY Change 3.84% 6.77%
Interest Expense $27.41M $28.79M
YoY Change -4.82% 14.97%
% of Operating Profit 43.85% 47.84%
Other Income/Expense, Net
YoY Change
Pretax Income $35.40M $32.30M
YoY Change 9.6% 0.94%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $34.59M $42.99M
YoY Change -19.54% 37.84%
Net Earnings / Revenue 22.01% 29.5%
Basic Earnings Per Share $0.53 $0.67
Diluted Earnings Per Share $0.53 $0.67
COMMON SHARES
Basic Shares Outstanding 64.69M shares 63.41M shares
Diluted Shares Outstanding 64.85M shares 63.59M shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.30M $69.20M
YoY Change -54.77% 592.0%
Cash & Equivalents $31.27M $69.18M
Short-Term Investments
Other Short-Term Assets $131.2M $120.9M
YoY Change 8.52% 14.49%
Inventory
Prepaid Expenses
Receivables $77.20M $75.90M
Other Receivables $55.60M $56.00M
Total Short-Term Assets $295.3M $322.0M
YoY Change -8.29% 38.85%
LONG-TERM ASSETS
Property, Plant & Equipment $3.567B $3.302B
YoY Change 8.05% 13.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $33.10M $34.20M
YoY Change -3.22% -33.33%
Other Assets
YoY Change
Total Long-Term Assets $3.611B $3.347B
YoY Change 7.88% 12.1%
TOTAL ASSETS
Total Short-Term Assets $295.3M $322.0M
Total Long-Term Assets $3.611B $3.347B
Total Assets $3.906B $3.669B
YoY Change 6.46% 14.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $126.7M $92.40M
YoY Change 37.12% 14.78%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $187.7M $149.3M
YoY Change 25.72% -84.01%
LONG-TERM LIABILITIES
Long-Term Debt $2.196B $2.115B
YoY Change 3.81% 110.52%
Other Long-Term Liabilities $94.50M $55.80M
YoY Change 69.35% -2.79%
Total Long-Term Liabilities $2.290B $2.171B
YoY Change 5.49% 104.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $187.7M $149.3M
Total Long-Term Liabilities $2.290B $2.171B
Total Liabilities $2.478B $2.320B
YoY Change 6.8% 14.47%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.911B $1.791B
YoY Change 6.69%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.310B $1.242B
YoY Change
Total Liabilities & Shareholders Equity $3.906B $3.669B
YoY Change 6.46% 14.03%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $34.59M $42.99M
YoY Change -19.54% 37.84%
Depreciation, Depletion And Amortization $40.60M $36.60M
YoY Change 10.93% 19.61%
Cash From Operating Activities $67.69M $69.46M
YoY Change -2.54% 51.0%
INVESTING ACTIVITIES
Capital Expenditures -$42.80M -$37.00M
YoY Change 15.68% -25.1%
Acquisitions
YoY Change
Other Investing Activities -$2.800M -$2.200M
YoY Change 27.27% -37.14%
Cash From Investing Activities -$45.68M -$39.28M
YoY Change 16.27% -25.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $32.54M $22.40M
YoY Change 45.26% -54.29%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$27.73M -$28.80M
YoY Change -3.7% -2687.51%
NET CHANGE
Cash From Operating Activities $67.69M $69.46M
Cash From Investing Activities -$45.68M -$39.28M
Cash From Financing Activities -$27.73M -$28.80M
Net Change In Cash -$5.714M $1.376M
YoY Change -515.26% -123.74%
FREE CASH FLOW
Cash From Operating Activities $67.69M $69.46M
Capital Expenditures -$42.80M -$37.00M
Free Cash Flow $110.5M $106.5M
YoY Change 3.79% 11.59%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">BUSINESS AND ORGANIZATION</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Federal Realty Investment Trust (the &#8220;Trust&#8221;) is an equity real estate investment trust (&#8220;REIT&#8221;) specializing in the ownership, management, and redevelopment of retail and mixed-use properties. Our properties are located primarily in densely populated and affluent communities in strategically selected metropolitan markets in the Mid-Atlantic and Northeast regions of the United States, and California. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;">, we owned or had a majority interest in community and neighborhood shopping centers and mixed-use properties which are operated as </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">88</font><font style="font-family:inherit;font-size:10pt;"> predominantly retail real estate projects.</font></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We operate in a manner intended to enable us to qualify as a REIT for federal income tax purposes. A REIT that distributes at least </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">90%</font><font style="font-family:inherit;font-size:10pt;"> of its taxable income to its shareholders each year and meets certain other conditions is not taxed on that portion of its taxable income which is distributed to its shareholders. Therefore, federal income taxes on our taxable income have been and are generally expected to be immaterial. We are obligated to pay state taxes, generally consisting of franchise or gross receipts taxes in certain states. Such state taxes also have not been material.</font></div></div>
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CY2013Q1 us-gaap Preferred Stock Value
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CY2012Q4 us-gaap Prepaid Expense And Other Assets
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CY2013Q1 us-gaap Prepaid Expense And Other Assets
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CY2013Q1 us-gaap Proceeds From Distributions Received From Real Estate Partnerships
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0 USD
CY2012Q1 us-gaap Proceeds From Distributions Received From Real Estate Partnerships
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143000 USD
CY2012Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2013Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
32542000 USD
CY2012Q1 us-gaap Profit Loss
ProfitLoss
44122000 USD
CY2013Q1 us-gaap Profit Loss
ProfitLoss
35842000 USD
CY2013Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
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CY2012Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
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CY2013Q1 us-gaap Real Estate Investment Property At Cost
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4825152000 USD
CY2012Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
4779674000 USD
CY2013Q1 us-gaap Real Estate Investment Property Net
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CY2012Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
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CY2012Q1 us-gaap Real Estate Tax Expense
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CY2013Q1 us-gaap Real Estate Tax Expense
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CY2012Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
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CY2013Q1 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
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CY2013Q1 us-gaap Rental Properties
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CY2012Q4 us-gaap Rental Properties
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CY2013Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
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12095000 USD
CY2012Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
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CY2012Q1 us-gaap Revenues
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CY2013Q1 us-gaap Revenues
Revenues
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CY2013Q1 us-gaap Secured Debt
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CY2012Q4 us-gaap Secured Debt
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CY2013Q1 us-gaap Security Deposit Liability
SecurityDepositLiability
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CY2012Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
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CY2012Q4 us-gaap Senior Notes
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CY2013Q1 us-gaap Senior Notes
SeniorNotes
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CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2012Q1 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2013Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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CY2013Q1 us-gaap Stock Issued During Period Value New Issues
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CY2013Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2013Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2013Q1 us-gaap Straight Line Rent
StraightLineRent
600000 USD
CY2012Q1 us-gaap Straight Line Rent
StraightLineRent
600000 USD
CY2013Q1 us-gaap Tenant Reimbursements
TenantReimbursements
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CY2012Q1 us-gaap Tenant Reimbursements
TenantReimbursements
26957000 USD
CY2013Q1 us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, referred to as &#8220;GAAP,&#8221; requires management to make estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using management&#8217;s best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates.</font></div></div>
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63585000 shares
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64847000 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64692000 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63411000 shares
CY2013Q1 frt Accumulated Depreciation And Amortization Consolidated Variable Interest Entities
AccumulatedDepreciationAndAmortizationConsolidatedVariableInterestEntities
13801000 USD
CY2012Q4 frt Accumulated Depreciation And Amortization Consolidated Variable Interest Entities
AccumulatedDepreciationAndAmortizationConsolidatedVariableInterestEntities
12024000 USD
CY2012Q1 frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
36571000 USD
CY2013Q1 frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
40624000 USD
CY2013Q2 frt Basis Points Spread
BasisPointsSpread
90
CY2012Q1 frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
24081000 USD
CY2013Q1 frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
33367000 USD
CY2013Q1 frt Conversion And Redemption Of Operating Partnership Units
ConversionAndRedemptionOfOperatingPartnershipUnits
0 USD
CY2012Q1 frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
43497000 USD
CY2013Q1 frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
46884000 USD
CY2013Q1 frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
450000 USD
CY2012Q1 frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
487000 USD
CY2013Q1 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
214000 USD
CY2012Q1 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
209000 USD
CY2012Q1 frt Gain Loss On Sale Of Properties In Real Estate Partnership
GainLossOnSaleOfPropertiesInRealEstatePartnership
11860000 USD
CY2013Q1 frt Gain Loss On Sale Of Properties In Real Estate Partnership
GainLossOnSaleOfPropertiesInRealEstatePartnership
0 USD
CY2013Q1 frt Gain On Sale Of Real Estate Per Basic Share
GainOnSaleOfRealEstatePerBasicShare
0.00
CY2012Q1 frt Gain On Sale Of Real Estate Per Basic Share
GainOnSaleOfRealEstatePerBasicShare
0.19
CY2013Q1 frt Gain On Sale Of Real Estate Per Diluted Share
GainOnSaleOfRealEstatePerDilutedShare
0.00
CY2012Q1 frt Gain On Sale Of Real Estate Per Diluted Share
GainOnSaleOfRealEstatePerDilutedShare
0.19
CY2013Q1 frt Income Loss From Continuing Operations Available For Common Shareholders
IncomeLossFromContinuingOperationsAvailableForCommonShareholders
34239000 USD
CY2012Q1 frt Income Loss From Continuing Operations Available For Common Shareholders
IncomeLossFromContinuingOperationsAvailableForCommonShareholders
30782000 USD
CY2013Q1 frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
-7284000 USD
CY2012Q1 frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
196000 USD
CY2012Q1 frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
143000 USD
CY2013Q1 frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
125000 USD
CY2013Q1 frt Lineofcreditfacilityweightedaverageinterestratebeforeamortizationofdebt Fees
LineofcreditfacilityweightedaverageinterestratebeforeamortizationofdebtFees
0.0137
CY2013Q1 frt Minimum Percentage Of Taxable Income Distributed To Shareholders
MinimumPercentageOfTaxableIncomeDistributedToShareholders
0.9
CY2013Q1 frt Mortgage Payable From Consolidated Variable Interest Entities
MortgagePayableFromConsolidatedVariableInterestEntities
204681000 USD
CY2012Q4 frt Mortgage Payable From Consolidated Variable Interest Entities
MortgagePayableFromConsolidatedVariableInterestEntities
205299000 USD
CY2013Q1 frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
34239000 USD
CY2012Q1 frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
42642000 USD
CY2013Q1 frt Operating Partnership Units Fair Value
OperatingPartnershipUnitsFairValue
32200000 USD
CY2013Q1 frt Operating Real Estate From Consolidated Variable Interest Entities
OperatingRealEstateFromConsolidatedVariableInterestEntities
278885000 USD
CY2012Q4 frt Operating Real Estate From Consolidated Variable Interest Entities
OperatingRealEstateFromConsolidatedVariableInterestEntities
278826000 USD
CY2013Q1 frt Other Liabilities And Deferred Credits
OtherLiabilitiesAndDeferredCredits
94501000 USD
CY2012Q4 frt Other Liabilities And Deferred Credits
OtherLiabilitiesAndDeferredCredits
103379000 USD
CY2013Q1 frt Other Rental Income
OtherRentalIncome
2457000 USD
CY2012Q1 frt Other Rental Income
OtherRentalIncome
2202000 USD
CY2012Q1 frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
-4412000 USD
CY2013Q1 frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
-1295000 USD
CY2013Q1 frt Profit Loss Excluding Redeemable Noncontrolling Interests
ProfitLossExcludingRedeemableNoncontrollingInterests
35119000 USD
CY2013Q1 frt Remaining Capacity To Issue
RemainingCapacityToIssue
180700000 USD
CY2013Q1 frt Rental Income
RentalIncome
153219000 USD
CY2012Q1 frt Rental Income
RentalIncome
140661000 USD
CY2012Q1 frt Revenue Mortgage Interest
RevenueMortgageInterest
1266000 USD
CY2013Q1 frt Revenue Mortgage Interest
RevenueMortgageInterest
1265000 USD
CY2013Q1 frt Schedule Of Minimum Rents Components Table Textblock
ScheduleOfMinimumRentsComponentsTableTextblock
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Minimum rents include the following:</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td width="75%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="10%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="10%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2013</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2012</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In millions)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Straight-line rents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.6</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization of above market leases</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(0.7</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(0.9</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization of below market leases</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div>
CY2013Q1 frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
1238000 USD
CY2013Q1 frt Totalfixedinterestrateduringswap
Totalfixedinterestrateduringswap
0.0317
CY2013Q1 dei Amendment Flag
AmendmentFlag
false
CY2013 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013Q1 dei Document Period End Date
DocumentPeriodEndDate
2013-03-31
CY2013Q1 dei Document Type
DocumentType
10-Q
CY2013Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000034903
CY2013Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
65243839 shares
CY2013Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2013Q1 dei Entity Registrant Name
EntityRegistrantName
FEDERAL REALTY INVESTMENT TRUST
CY2013Q1 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013Q1 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2013Q1 dei Trading Symbol
TradingSymbol
FRT

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