$FRT
FEDERAL REALTY INVESTMENT TRUST

2019 Q4 Form 10-Q Financial Statement

#000003490319000042 Filed on October 30, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $239.1M $233.9M $229.8M
YoY Change 1.6% 1.83% 5.41%
Cost Of Revenue $76.70M $83.50M $71.00M
YoY Change 1.72% 17.61% 3.35%
Gross Profit $162.5M $150.4M $158.8M
YoY Change 1.63% -5.29% 6.43%
Gross Profit Margin 67.95% 64.29% 69.12%
Selling, General & Admin $10.70M $11.10M $7.600M
YoY Change 11.46% 46.05% -16.48%
% of Gross Profit 6.58% 7.38% 4.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $61.50M $59.60M $60.80M
YoY Change -8.07% -1.97% 9.16%
% of Gross Profit 37.85% 39.63% 38.29%
Operating Expenses $72.10M $154.2M $139.4M
YoY Change -5.87% 10.62% 4.46%
Operating Profit $176.2M $94.02M $93.47M
YoY Change 107.71% 0.59% 10.62%
Interest Expense -$27.30M $27.05M $28.17M
YoY Change -4.21% -3.96% 7.15%
% of Operating Profit -15.49% 28.77% 30.13%
Other Income/Expense, Net
YoY Change
Pretax Income $149.0M $67.10M $64.20M
YoY Change 171.4% 4.52% 10.5%
Income Tax
% Of Pretax Income
Net Earnings $147.4M $65.47M $62.56M
YoY Change 170.34% 4.65% -41.41%
Net Earnings / Revenue 61.62% 27.98% 27.23%
Basic Earnings Per Share $1.92 $0.84 $0.82
Diluted Earnings Per Share $1.92 $0.84 $0.82
COMMON SHARES
Basic Shares Outstanding 75.52M shares 74.83M shares 73.40M shares
Diluted Shares Outstanding 74.83M shares 73.41M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $127.4M $162.5M $41.90M
YoY Change 98.75% 287.83% 82.97%
Cash & Equivalents $127.4M $162.5M $41.87M
Short-Term Investments
Other Short-Term Assets $200.9M $195.1M $292.1M
YoY Change -24.39% -33.21% 20.06%
Inventory
Prepaid Expenses
Receivables $152.6M $143.9M $151.4M
Other Receivables $30.40M $30.40M $30.40M
Total Short-Term Assets $511.3M $531.9M $515.8M
YoY Change 1.75% 3.12% 3.68%
LONG-TERM ASSETS
Property, Plant & Equipment $6.227B $5.951B $5.720B
YoY Change 8.42% 4.04% 0.36%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $28.60M $30.00M $27.60M
YoY Change 6.32% 8.7% 15.48%
Other Assets $27.90M $94.20M $22.00M
YoY Change 68.07% 328.18%
Total Long-Term Assets $6.284B $6.076B $5.770B
YoY Change 8.58% 5.3% 0.81%
TOTAL ASSETS
Total Short-Term Assets $511.3M $531.9M $515.8M
Total Long-Term Assets $6.284B $6.076B $5.770B
Total Assets $6.795B $6.608B $6.286B
YoY Change 8.03% 5.12% 1.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $255.5M $221.8M $184.7M
YoY Change 43.62% 20.09% -10.51%
Accrued Expenses $73.60M $74.00M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $432.5M $397.6M $280.2M
YoY Change 57.85% 41.9% -5.53%
LONG-TERM LIABILITIES
Long-Term Debt $3.429B $3.349B $3.257B
YoY Change 6.18% 2.84% -0.21%
Other Long-Term Liabilities $157.9M $165.5M $174.0M
YoY Change -13.67% -4.89% -0.85%
Total Long-Term Liabilities $3.587B $3.515B $3.431B
YoY Change 5.11% 2.45% -0.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $432.5M $397.6M $280.2M
Total Long-Term Liabilities $3.587B $3.515B $3.431B
Total Liabilities $4.019B $3.912B $3.711B
YoY Change 9.03% 5.43% -0.66%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.167B $3.168B $2.947B
YoY Change 5.39% 7.5% 6.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.535B $2.470B $2.312B
YoY Change
Total Liabilities & Shareholders Equity $6.795B $6.608B $6.286B
YoY Change 8.03% 5.12% 1.04%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $147.4M $65.47M $62.56M
YoY Change 170.34% 4.65% -41.41%
Depreciation, Depletion And Amortization $61.50M $59.60M $60.80M
YoY Change -8.07% -1.97% 9.16%
Cash From Operating Activities $117.6M $102.0M $101.6M
YoY Change -22.63% 0.39% 0.79%
INVESTING ACTIVITIES
Capital Expenditures -$289.2M -$129.8M -$84.30M
YoY Change 162.91% 53.97% -78.84%
Acquisitions
YoY Change
Other Investing Activities $199.9M $16.00M $51.20M
YoY Change 577.63% -68.75% -32.36%
Cash From Investing Activities -$89.20M -$113.9M -$33.10M
YoY Change 10.95% 244.11% -89.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -81.60M 78.50M -82.60M
YoY Change 40.69% -195.04% -156.19%
NET CHANGE
Cash From Operating Activities 117.6M 102.0M 101.6M
Cash From Investing Activities -89.20M -113.9M -33.10M
Cash From Financing Activities -81.60M 78.50M -82.60M
Net Change In Cash -53.20M 66.60M -14.10M
YoY Change -491.18% -572.34% -81.17%
FREE CASH FLOW
Cash From Operating Activities $117.6M $102.0M $101.6M
Capital Expenditures -$289.2M -$129.8M -$84.30M
Free Cash Flow $406.8M $231.8M $185.9M
YoY Change 55.27% 24.69% -62.76%

Facts In Submission

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CY2019Q3 us-gaap Profit Loss
ProfitLoss
67106000 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
64180000 USD
us-gaap Profit Loss
ProfitLoss
211576000 USD
us-gaap Profit Loss
ProfitLoss
192644000 USD
CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1641000 USD
CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1622000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5065000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5244000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
65465000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
62558000 USD
us-gaap Net Income Loss
NetIncomeLoss
206511000 USD
us-gaap Net Income Loss
NetIncomeLoss
187400000 USD
CY2019Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2010000 USD
CY2018Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2010000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6031000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6031000 USD
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
63455000 USD
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
60548000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
200480000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
181369000 USD
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.84
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.82
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.68
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.47
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74832000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74584000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73100000 shares
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.84
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.82
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.68
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.47
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74832000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73408000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74584000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73136000 shares
CY2019Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
66995000 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
63895000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
210857000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
192749000 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
65354000 USD
CY2018Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
62273000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
205792000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
187505000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2467330000 USD
us-gaap Cumulative Effect On Retained Earnings Net Of Tax1
CumulativeEffectOnRetainedEarningsNetOfTax1
-7098000 USD
frt Profit Loss Excluding Redeemable Noncontrolling Interests
ProfitLossExcludingRedeemableNoncontrollingInterests
208972000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-719000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
231657000 USD
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
6031000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
8812000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
139499000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
1567000 USD
frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
10143000 USD
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
4615000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2573121000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2510646000 USD
frt Conversion And Redemption Of Operating Partnership Units
ConversionAndRedemptionOfOperatingPartnershipUnits
72000 USD
frt Contributionsfromnoncontrollinginterests
Contributionsfromnoncontrollinginterests
111000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-4503000 USD
CY2019Q3 frt Profit Loss Excluding Redeemable Noncontrolling Interests
ProfitLossExcludingRedeemableNoncontrollingInterests
66285000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-111000 USD
CY2019Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
79102000 USD
CY2019Q3 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
2010000 USD
CY2019Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1148000 USD
CY2019Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
71195000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
513000 USD
CY2019Q3 frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
3151000 USD
CY2019Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
173000 USD
CY2019Q3 frt Conversion And Redemption Of Operating Partnership Units
ConversionAndRedemptionOfOperatingPartnershipUnits
72000 USD
CY2019Q3 frt Contributionsfromnoncontrollinginterests
Contributionsfromnoncontrollinginterests
111000 USD
CY2019Q3 us-gaap Stockholders Equity Other
StockholdersEquityOther
-3836000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2573121000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2391514000 USD
us-gaap Cumulative Effect On Retained Earnings Net Of Tax1
CumulativeEffectOnRetainedEarningsNetOfTax1
-6028000 USD
frt Profit Loss Excluding Redeemable Noncontrolling Interests
ProfitLossExcludingRedeemableNoncontrollingInterests
189724000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
105000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
221623000 USD
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
6031000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
4010000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
77371000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
4041000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
1647000 USD
frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
9638000 USD
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
927000 USD
frt Conversion And Redemption Of Operating Partnership Units
ConversionAndRedemptionOfOperatingPartnershipUnits
5906000 USD
frt Contributionsfromnoncontrollinginterests
Contributionsfromnoncontrollinginterests
3924000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2433439000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2387592000 USD
CY2018Q3 frt Profit Loss Excluding Redeemable Noncontrolling Interests
ProfitLossExcludingRedeemableNoncontrollingInterests
63258000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-285000 USD
CY2018Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
75224000 USD
CY2018Q3 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
2010000 USD
CY2018Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1243000 USD
CY2018Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
59051000 USD
CY2018Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
0 USD
CY2018Q3 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
561000 USD
CY2018Q3 frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
2494000 USD
CY2018Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
150000 USD
CY2018Q3 frt Conversion And Redemption Of Operating Partnership Units
ConversionAndRedemptionOfOperatingPartnershipUnits
1520000 USD
CY2018Q3 frt Contributionsfromnoncontrollinginterests
Contributionsfromnoncontrollinginterests
915000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2433439000 USD
us-gaap Profit Loss
ProfitLoss
211576000 USD
us-gaap Profit Loss
ProfitLoss
192644000 USD
frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
178327000 USD
frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
177269000 USD
us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes
30490000 USD
us-gaap Gain Loss On Sale Of Properties Net Of Applicable Income Taxes
GainLossOnSaleOfPropertiesNetOfApplicableIncomeTaxes
10413000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1302000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-2693000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
457000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-3251000 USD
frt Proceedsfromnewmarkettaxcredittransactionnetofdeferredcosts
Proceedsfromnewmarkettaxcredittransactionnetofdeferredcosts
0 USD
frt Proceedsfromnewmarkettaxcredittransactionnetofdeferredcosts
Proceedsfromnewmarkettaxcredittransactionnetofdeferredcosts
12353000 USD
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
8867000 USD
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
4514000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
12836000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
11682000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
6262000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2896000 USD
frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
-511000 USD
frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
219000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
344306000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
364716000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
45122000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
3624000 USD
frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
226232000 USD
frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
217437000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
53890000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
50744000 USD
frt Proceedsfromthesaleofrealestateandrealestatepartnershipinterests
Proceedsfromthesaleofrealestateandrealestatepartnershipinterests
115781000 USD
frt Proceedsfromthesaleofrealestateandrealestatepartnershipinterests
Proceedsfromthesaleofrealestateandrealestatepartnershipinterests
142711000 USD
us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
0 USD
us-gaap Payments For Proceeds From Real Estate Partnership Investment Net
PaymentsForProceedsFromRealEstatePartnershipInvestmentNet
-37998000 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
980000 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
616000 USD
us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
1798000 USD
us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
237000 USD
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
18751000 USD
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
19938000 USD
frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
-130000 USD
frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
360000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-227266000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-111773000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-4012000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-14500000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
400106000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
299485000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
15137000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
139729000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
81628000 USD
frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
232985000 USD
frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
224311000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4615000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
927000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
272000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
2753000 USD
frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
17466000 USD
frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
12848000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-18456000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-183342000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
98584000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
69601000 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
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
206916000 USD
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
94801000 USD
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;">September 30, 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>104</span></span><span style="font-family:inherit;font-size:10pt;"> predominantly retail real estate projects.</span></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><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><span 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.</span></div>
CY2019Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
104 project
frt Minimum Percentage Of Taxable Income Distributed To Shareholders
MinimumPercentageOfTaxableIncomeDistributedToShareholders
0.90
us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;padding-top:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</span></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><span 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 “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.</span></div>
CY2019Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
321000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
963000 USD
CY2019Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1455000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
4366000 USD
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1524000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
4521000 USD
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
131000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
351000 USD
CY2019Q3 us-gaap Lease Cost
LeaseCost
3431000 USD
us-gaap Lease Cost
LeaseCost
10201000 USD
CY2019Q3 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1432000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
4325000 USD
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
1500000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
4279000 USD
CY2019Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
43000 USD
CY2019Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P18Y4M24D
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P53Y8M12D
CY2019Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.080
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045
us-gaap Interest Costs Incurred
InterestCostsIncurred
97074000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
96903000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
14507000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
14787000 USD
us-gaap Interest Expense
InterestExpense
82567000 USD
us-gaap Interest Expense
InterestExpense
82116000 USD
us-gaap Interest Paid Net
InterestPaidNet
82118000 USD
us-gaap Interest Paid Net
InterestPaidNet
85614000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
450000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
699000 USD
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
16951000 USD
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
0 USD
frt Redemptionofoperatingpartnershipunitsforcommonshares
Redemptionofoperatingpartnershipunitsforcommonshares
11935000 USD
frt Redemptionofoperatingpartnershipunitsforcommonshares
Redemptionofoperatingpartnershipunitsforcommonshares
101000 USD
frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
1337000 USD
frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
1431000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
162543000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
64087000 USD
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
44373000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
44245000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
206916000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
108332000 USD
CY2019Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1000000000.0 USD
CY2019Q3 us-gaap Line Of Credit Facility Maximum Amount Outstanding During Period
LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod
47000000.0 USD
us-gaap Line Of Credit Facility Maximum Amount Outstanding During Period
LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod
116500000 USD
CY2019Q3 frt Lineofcreditfacilityweightedaverageinterestratebeforeamortizationofdebt Fees
LineofcreditfacilityweightedaverageinterestratebeforeamortizationofdebtFees
0.030
frt Lineofcreditfacilityweightedaverageinterestratebeforeamortizationofdebt Fees
LineofcreditfacilityweightedaverageinterestratebeforeamortizationofdebtFees
0.032
CY2019Q3 us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
14000000.0 USD
us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
34700000 USD
CY2019Q3 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2019Q3 us-gaap Partners Capital Account Units
PartnersCapitalAccountUnits
626619 shares
CY2019Q3 frt Operating Partnership Units Fair Value
OperatingPartnershipUnitsFairValue
85300000 USD
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
3.090
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
3.060
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
3.020
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
3.000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3151000 USD
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2494000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10143000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9638000 USD
CY2019Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
274000 USD
CY2018Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
-157000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
746000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
769000 USD
CY2019Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2877000 USD
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2651000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9397000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
8869000 USD
CY2019Q3 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
200000 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
682 shares
CY2019Q3 us-gaap Profit Loss
ProfitLoss
67106000 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
64180000 USD
us-gaap Profit Loss
ProfitLoss
211576000 USD
us-gaap Profit Loss
ProfitLoss
192644000 USD
CY2019Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2010000 USD
CY2018Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2010000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6031000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6031000 USD
CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1641000 USD
CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1622000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5065000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5244000 USD
CY2019Q3 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
232000 USD
CY2018Q3 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
211000 USD
frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
671000 USD
frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
719000 USD
CY2019Q3 frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
63223000 USD
CY2018Q3 frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
60337000 USD
frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
199809000 USD
frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
180650000 USD
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74832000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74584000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73100000 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
8000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
36000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74832000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73408000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74584000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73136000 shares
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.84
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.82
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.68
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.47
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.84
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.82
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.68
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.47

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