2019 Q1 Form 10-Q Financial Statement

#000003490319000021 Filed on May 02, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $232.2M $225.4M
YoY Change 3.03% 8.69%
Cost Of Revenue $71.90M $73.20M
YoY Change -1.78% 10.57%
Gross Profit $160.3M $152.2M
YoY Change 5.32% 7.79%
Gross Profit Margin 69.03% 67.52%
Selling, General & Admin $9.600M $7.900M
YoY Change 21.52% -4.82%
% of Gross Profit 5.99% 5.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $59.60M $58.10M
YoY Change 2.58% 13.04%
% of Gross Profit 37.18% 38.17%
Operating Expenses $141.1M $139.3M
YoY Change 1.35% 10.66%
Operating Profit $91.09M $89.46M
YoY Change 1.82% 9.71%
Interest Expense $28.03M $26.18M
YoY Change 7.06% 10.21%
% of Operating Profit 30.77% 29.27%
Other Income/Expense, Net
YoY Change
Pretax Income $61.80M $62.90M
YoY Change -1.75% 8.64%
Income Tax
% Of Pretax Income
Net Earnings $60.14M $61.25M
YoY Change -1.8% 9.0%
Net Earnings / Revenue 25.9% 27.17%
Basic Earnings Per Share $0.78 $0.81
Diluted Earnings Per Share $0.78 $0.81
COMMON SHARES
Basic Shares Outstanding 74.20M shares 72.91M shares
Diluted Shares Outstanding 74.20M shares 72.97M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.00M $64.40M
YoY Change -33.23% 220.4%
Cash & Equivalents $43.00M $64.41M
Short-Term Investments
Other Short-Term Assets $182.6M $232.3M
YoY Change -21.39% 2.43%
Inventory
Prepaid Expenses
Receivables $137.8M $143.1M
Other Receivables $30.40M $30.50M
Total Short-Term Assets $393.8M $470.3M
YoY Change -16.27% 19.79%
LONG-TERM ASSETS
Property, Plant & Equipment $5.877B $5.763B
YoY Change 1.98% 10.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $30.50M $23.50M
YoY Change 29.79% 62.07%
Other Assets $50.00M $36.90M
YoY Change 35.5% 8.85%
Total Long-Term Assets $5.958B $5.823B
YoY Change 2.31% 10.63%
TOTAL ASSETS
Total Short-Term Assets $393.8M $470.3M
Total Long-Term Assets $5.958B $5.823B
Total Assets $6.351B $6.294B
YoY Change 0.92% 11.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $156.0M $181.4M
YoY Change -14.0% -5.47%
Accrued Expenses $75.10M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $329.0M $274.1M
YoY Change 20.03% -2.11%
LONG-TERM LIABILITIES
Long-Term Debt $3.229B $3.335B
YoY Change -3.2% 10.69%
Other Long-Term Liabilities $157.5M $169.5M
YoY Change -7.08% 16.9%
Total Long-Term Liabilities $3.386B $3.505B
YoY Change -3.39% 10.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $329.0M $274.1M
Total Long-Term Liabilities $3.386B $3.505B
Total Liabilities $3.715B $3.779B
YoY Change -1.69% 9.91%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.073B $2.860B
YoY Change 7.42% 4.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.388B $2.252B
YoY Change
Total Liabilities & Shareholders Equity $6.351B $6.294B
YoY Change 0.92% 11.27%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $60.14M $61.25M
YoY Change -1.8% 9.0%
Depreciation, Depletion And Amortization $59.60M $58.10M
YoY Change 2.58% 13.04%
Cash From Operating Activities $104.9M $124.2M
YoY Change -15.51% 0.2%
INVESTING ACTIVITIES
Capital Expenditures -$102.6M -$89.30M
YoY Change 14.89% -67.73%
Acquisitions
YoY Change
Other Investing Activities -$1.400M $43.10M
YoY Change -103.25% -1757.69%
Cash From Investing Activities -$104.0M -$46.18M
YoY Change 125.3% -83.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $59.43M $1.336M
YoY Change 4348.13% -92.3%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$27.00M -$29.50M
YoY Change -8.47% -119.16%
NET CHANGE
Cash From Operating Activities $104.9M $124.2M
Cash From Investing Activities -$104.0M -$46.18M
Cash From Financing Activities -$27.00M -$29.50M
Net Change In Cash -$26.12M $48.50M
YoY Change -153.86% -3591.72%
FREE CASH FLOW
Cash From Operating Activities $104.9M $124.2M
Capital Expenditures -$102.6M -$89.30M
Free Cash Flow $207.5M $213.5M
YoY Change -2.79% -46.71%

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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2373110000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
61803000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
62931000 USD
CY2019Q1 frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
59622000 USD
CY2018Q1 frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
58110000 USD
CY2019Q1 us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes
0 USD
CY2018Q1 us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes
3316000 USD
CY2019Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1434000 USD
CY2018Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-525000 USD
CY2019Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2230000 USD
CY2018Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1737000 USD
CY2019Q1 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
1245000 USD
CY2018Q1 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-2322000 USD
CY2019Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1168000 USD
CY2018Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-4088000 USD
CY2019Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-6815000 USD
CY2018Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-5380000 USD
CY2019Q1 frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
-13278000 USD
CY2018Q1 frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
3163000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
104919000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
124180000 USD
CY2019Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
25176000 USD
CY2018Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
CY2019Q1 frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
63380000 USD
CY2018Q1 frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
69119000 USD
CY2019Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
14061000 USD
CY2018Q1 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
20194000 USD
CY2019Q1 frt Proceedsfromthesaleofrealestateandrealestatepartnershipinterests
Proceedsfromthesaleofrealestateandrealestatepartnershipinterests
6106000 USD
CY2018Q1 frt Proceedsfromthesaleofrealestateandrealestatepartnershipinterests
Proceedsfromthesaleofrealestateandrealestatepartnershipinterests
51459000 USD
CY2019Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
300000 USD
CY2018Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
180000 USD
CY2019Q1 us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
983000 USD
CY2018Q1 us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
93000 USD
CY2019Q1 us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
8259000 USD
CY2018Q1 us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
8057000 USD
CY2019Q1 frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
-50000 USD
CY2018Q1 frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
180000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-104037000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-46178000 USD
CY2019Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
20000000 USD
CY2018Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
62000000 USD
CY2019Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
21718000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
11978000 USD
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
59427000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1336000 USD
CY2019Q1 frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
77296000 USD
CY2018Q1 frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
74925000 USD
CY2019Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4414000 USD
CY2018Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
753000 USD
CY2019Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
106000 USD
CY2018Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
69000 USD
CY2019Q1 frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
3107000 USD
CY2018Q1 frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
5251000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-27002000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-29502000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-26120000 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
48500000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
108332000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25200000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82212000 USD
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
73700000 USD
CY2019Q1 us-gaap Nature Of Operations
NatureOfOperations
BUSINESS AND ORGANIZATION<div style="line-height:120%;padding-top:6px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Federal Realty Investment Trust (the “Trust”) is an equity real estate investment trust (“REIT”) 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, California, and South Florida. As of </span><span style="font-family:inherit;font-size:10pt;">March 31, 2019</span><span 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 </span><span style="font-family:inherit;font-size:10pt;"><span>105</span></span><span style="font-family:inherit;font-size:10pt;"> predominantly retail real estate projects.</span></div><span 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 </span><span style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"><span>90%</span></span> 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.
CY2019Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
105 project
CY2019Q1 frt Minimum Percentage Of Taxable Income Distributed To Shareholders
MinimumPercentageOfTaxableIncomeDistributedToShareholders
0.90
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
Use of EstimatesThe preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, referred to as “GAAP,” 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’s best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates
CY2019Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
321000 USD
CY2019Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1456000 USD
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1504000 USD
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
91000 USD
CY2019Q1 us-gaap Lease Cost
LeaseCost
3372000 USD
CY2019Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1460000 USD
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1511000 USD
CY2019Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
25000 USD
CY2019Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P18Y10M24D
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P53Y8M12D
CY2019Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.080
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045
CY2019Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
32580000 USD
CY2018Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
32276000 USD
CY2019Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
4547000 USD
CY2018Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
6092000 USD
CY2019Q1 us-gaap Interest Expense
InterestExpense
28033000 USD
CY2018Q1 us-gaap Interest Expense
InterestExpense
26184000 USD
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
32485000 USD
CY2018Q1 us-gaap Interest Paid Net
InterestPaidNet
31832000 USD
CY2019Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
7000 USD
CY2018Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
57000 USD
CY2019Q1 frt Redemptionofoperatingpartnershipunitsforcommonshares
Redemptionofoperatingpartnershipunitsforcommonshares
7551000 USD
CY2018Q1 frt Redemptionofoperatingpartnershipunitsforcommonshares
Redemptionofoperatingpartnershipunitsforcommonshares
0 USD
CY2019Q1 frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
455000 USD
CY2018Q1 frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
477000 USD
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
43003000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
64087000 USD
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
39209000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
44245000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82212000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
108332000 USD
CY2019Q1 us-gaap Partners Capital Account Units
PartnersCapitalAccountUnits
669377 shares
CY2019Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
800000000.0 USD
CY2019Q1 us-gaap Line Of Credit Facility Maximum Amount Outstanding During Period
LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod
116500000 USD
CY2019Q1 us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
63400000 USD
CY2019Q1 frt Lineofcreditfacilityweightedaverageinterestratebeforeamortizationofdebt Fees
LineofcreditfacilityweightedaverageinterestratebeforeamortizationofdebtFees
0.032
CY2019Q1 us-gaap Line Of Credit
LineOfCredit
20000000.0 USD
CY2019Q1 frt Operating Partnership Units Fair Value
OperatingPartnershipUnitsFairValue
92300000 USD
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.020
CY2019Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.020
CY2018Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.000
CY2018Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.000
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3861000 USD
CY2018Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3870000 USD
CY2019Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
226000 USD
CY2018Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
438000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3635000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3432000 USD
CY2019Q1 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
200000 shares
CY2018Q1 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
300000 shares
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
682 shares
CY2019Q1 us-gaap Profit Loss
ProfitLoss
61803000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
62931000 USD
CY2019Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2010000 USD
CY2018Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2010000 USD
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1659000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1684000 USD
CY2019Q1 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
220000 USD
CY2018Q1 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
253000 USD
CY2019Q1 frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
57914000 USD
CY2018Q1 frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
58984000 USD
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74200000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
72905000 shares
CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2018Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
63000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74200000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72968000 shares
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.78
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.81
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.78
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.81

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