2024 Q4 Form 10-Q Financial Statement

#000003490324000069 Filed on October 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $303.6M
YoY Change 5.94%
Cost Of Revenue $99.95M
YoY Change 9.12%
Gross Profit $203.7M
YoY Change 4.45%
Gross Profit Margin 67.08%
Selling, General & Admin $10.82M
YoY Change -17.39%
% of Gross Profit 5.31%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $87.03M
YoY Change 6.52%
% of Gross Profit 42.73%
Operating Expenses $197.8M
YoY Change 6.05%
Operating Profit $105.8M
YoY Change 5.74%
Interest Expense $44.24M
YoY Change 3.54%
% of Operating Profit 41.8%
Other Income/Expense, Net
YoY Change
Pretax Income $63.46M
YoY Change 6.84%
Income Tax
% Of Pretax Income
Net Earnings $60.95M
YoY Change 6.85%
Net Earnings / Revenue 20.07%
Basic Earnings Per Share $0.70
Diluted Earnings Per Share $0.70
COMMON SHARES
Basic Shares Outstanding 84.96M shares 83.67M shares
Diluted Shares Outstanding 83.99M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $97.02M
YoY Change -1.2%
Cash & Equivalents $97.02M
Short-Term Investments
Other Short-Term Assets $276.3M
YoY Change 8.28%
Inventory
Prepaid Expenses
Receivables $206.5M
Other Receivables $9.157M
Total Short-Term Assets $589.0M
YoY Change 6.19%
LONG-TERM ASSETS
Property, Plant & Equipment $7.857B
YoY Change 2.05%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $33.01M
YoY Change -7.02%
Other Assets $8.583M
YoY Change 86.59%
Total Long-Term Assets $7.890B
YoY Change 1.95%
TOTAL ASSETS
Total Short-Term Assets $589.0M
Total Long-Term Assets $7.890B
Total Assets $8.479B
YoY Change 2.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $201.1M
YoY Change -4.21%
Accrued Expenses $75.41M
YoY Change -1.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $402.6M
YoY Change -1.3%
LONG-TERM LIABILITIES
Long-Term Debt $4.485B
YoY Change -0.73%
Other Long-Term Liabilities $224.7M
YoY Change -2.26%
Total Long-Term Liabilities $4.710B
YoY Change -0.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $402.6M
Total Long-Term Liabilities $4.710B
Total Liabilities $5.113B
YoY Change -0.84%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $4.161B
YoY Change 8.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.111B
YoY Change
Total Liabilities & Shareholders Equity $8.479B
YoY Change 2.24%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $60.95M
YoY Change 6.85%
Depreciation, Depletion And Amortization $87.03M
YoY Change 6.52%
Cash From Operating Activities $144.1M
YoY Change -4.52%
INVESTING ACTIVITIES
Capital Expenditures $118.4M
YoY Change 47.2%
Acquisitions
YoY Change
Other Investing Activities -$4.473M
YoY Change 9.1%
Cash From Investing Activities -$122.8M
YoY Change 45.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -29.47M
YoY Change -55.62%
NET CHANGE
Cash From Operating Activities 144.1M
Cash From Investing Activities -122.8M
Cash From Financing Activities -29.47M
Net Change In Cash -8.211M
YoY Change -8311.0%
FREE CASH FLOW
Cash From Operating Activities $144.1M
Capital Expenditures $118.4M
Free Cash Flow $25.73M
YoY Change -63.5%

Facts In Submission

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87-3916363
dei Entity Address Address Line1
EntityAddressAddressLine1
909 Rose Avenue, Suite 200
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2024Q3 us-gaap Rental Properties
RentalProperties
10355292000 usd
CY2023Q4 us-gaap Rental Properties
RentalProperties
9932891000 usd
CY2023Q4 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
201733000 usd
CY2024Q3 us-gaap Mortgage Loans On Real Estate Commercial And Consumer Net
MortgageLoansOnRealEstateCommercialAndConsumerNet
9157000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
6850000 usd
CY2024Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
276328000 usd
CY2023Q4 us-gaap Liabilities
Liabilities
5210990000 usd
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2024Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
8479218000 usd
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
8436512000 usd
CY2024Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
303352000 usd
CY2023Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
286323000 usd
dei Entity Small Business
EntitySmallBusiness
false
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
86993000 usd
CY2024Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
6685000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
263377000 usd
CY2024Q3 us-gaap Assets
Assets
8479218000 usd
CY2023Q4 us-gaap Assets
Assets
8436512000 usd
CY2024Q3 frt Mortgage Payable From Consolidated Variable Interest Entities
MortgagePayableFromConsolidatedVariableInterestEntities
187311000 usd
CY2023Q4 frt Mortgage Payable From Consolidated Variable Interest Entities
MortgagePayableFromConsolidatedVariableInterestEntities
189286000 usd
CY2024Q3 us-gaap Secured Debt
SecuredDebt
515012000 usd
CY2023Q4 us-gaap Secured Debt
SecuredDebt
516936000 usd
CY2024Q3 us-gaap Notes Payable
NotesPayable
601307000 usd
CY2023Q4 us-gaap Notes Payable
NotesPayable
601945000 usd
CY2024Q3 us-gaap Unsecured Debt
UnsecuredDebt
3356298000 usd
CY2023Q4 us-gaap Unsecured Debt
UnsecuredDebt
3480296000 usd
CY2024Q3 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
201066000 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
174714000 usd
CY2024Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
95849000 usd
CY2023Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
92634000 usd
CY2024Q3 us-gaap Security Deposit Liability
SecurityDepositLiability
30284000 usd
CY2023Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
30482000 usd
CY2023Q4 us-gaap Deferred Credits And Other Liabilities
DeferredCreditsAndOtherLiabilities
225443000 usd
CY2023Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1313000 usd
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.70
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.67
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.68
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.68
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.04
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83994000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81274000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83180000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81210000 shares
CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3185600000 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3042159000 usd
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
5179000 usd
us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
230953000 usd
frt Other Comprehensive Income Loss Attributable To Redeemable Noncontrolling Interest
OtherComprehensiveIncomeLossAttributableToRedeemableNoncontrollingInterest
-108000 usd
frt Other Comprehensive Income Loss Net Of Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfPortionAttributableToNoncontrollingInterest
-1880000 usd
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
3.28
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
275006000 usd
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
6024000 usd
frt Redeemable Noncontrolling Interest Decrease From Distributions To Redeemable Noncontrolling Interest Holders
RedeemableNoncontrollingInterestDecreaseFromDistributionsToRedeemableNoncontrollingInterestHolders
7488000 usd
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
3183000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
222319000 usd
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
1323000 usd
frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
11952000 usd
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
4972000 usd
frt Contributionsfromnoncontrollinginterests
Contributionsfromnoncontrollinginterests
725000 usd
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
12358000 usd
frt Capped Call Premium
CappedCallPremium
19448000 usd
CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3185600000 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2980431000 usd
CY2023Q3 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
1817000 usd
CY2023Q3 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
57575000 usd
CY2023Q3 frt Other Comprehensive Income Loss Attributable To Redeemable Noncontrolling Interest
OtherComprehensiveIncomeLossAttributableToRedeemableNoncontrollingInterest
118000 usd
CY2023Q3 frt Other Comprehensive Income Loss Net Of Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfPortionAttributableToNoncontrollingInterest
1277000 usd
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.09
CY2023Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
88958000 usd
CY2023Q3 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
2008000 usd
CY2023Q3 frt Redeemable Noncontrolling Interest Decrease From Distributions To Redeemable Noncontrolling Interest Holders
RedeemableNoncontrollingInterestDecreaseFromDistributionsToRedeemableNoncontrollingInterestHolders
3545000 usd
CY2023Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1081000 usd
CY2023Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
9703000 usd
CY2023Q3 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
475000 usd
CY2023Q3 frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
3738000 usd
CY2023Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
268000 usd
CY2023Q3 frt Contributionsfromnoncontrollinginterests
Contributionsfromnoncontrollinginterests
165000 usd
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2961049000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3034015000 usd
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
5036000 usd
us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
175091000 usd
frt Other Comprehensive Income Loss Attributable To Redeemable Noncontrolling Interest
OtherComprehensiveIncomeLossAttributableToRedeemableNoncontrollingInterest
105000 usd
frt Other Comprehensive Income Loss Net Of Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfPortionAttributableToNoncontrollingInterest
1016000 usd
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
3.25
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
265022000 usd
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
6024000 usd
frt Redeemable Noncontrolling Interest Decrease From Distributions To Redeemable Noncontrolling Interest Holders
RedeemableNoncontrollingInterestDecreaseFromDistributionsToRedeemableNoncontrollingInterestHolders
6972000 usd
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
3283000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
15895000 usd
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
1380000 usd
frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
11868000 usd
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
4979000 usd
frt Contributionsfromnoncontrollinginterests
Contributionsfromnoncontrollinginterests
1092000 usd
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2961049000 usd
us-gaap Profit Loss
ProfitLoss
236132000 usd
us-gaap Profit Loss
ProfitLoss
180127000 usd
frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
255481000 usd
frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
239342000 usd
frt Gain On Sale Of Real Estate
GainOnSaleOfRealEstate
52280000 usd
frt Gain On Sale Of Real Estate
GainOnSaleOfRealEstate
1702000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1825000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3494000 usd
us-gaap Straight Line Rent
StraightLineRent
16356000 usd
us-gaap Straight Line Rent
StraightLineRent
8605000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
11153000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
10831000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
1603000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
3891000 usd
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-11044000 usd
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-10486000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3600000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1739000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
22783000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
21282000 usd
frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
-5961000 usd
frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
578000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
454968000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
443215000 usd
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
273927000 usd
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
59568000 usd
frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
104350000 usd
frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
162662000 usd
frt Capital Expenditures Other
CapitalExpendituresOther
78055000 usd
frt Capital Expenditures Other
CapitalExpendituresOther
73229000 usd
frt Costsassociatedwithleasebuyoutforapropertysold
Costsassociatedwithleasebuyoutforapropertysold
0 usd
frt Costsassociatedwithleasebuyoutforapropertysold
Costsassociatedwithleasebuyoutforapropertysold
1378000 usd
us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
96324000 usd
us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
3603000 usd
us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
9314000 usd
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
19047000 usd
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
13741000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-375452000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-288638000 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
0 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
50500000 usd
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
471507000 usd
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
345698000 usd
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
600000000 usd
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
275000000 usd
frt Costs To Extend And Issue Notes Payable And Mortgages
CostsToExtendAndIssueNotesPayableAndMortgages
902000 usd
frt Costs To Extend And Issue Notes Payable And Mortgages
CostsToExtendAndIssueNotesPayableAndMortgages
0 usd
frt Repayment Of Mortgages Finance Leases And Notes Payable
RepaymentOfMortgagesFinanceLeasesAndNotesPayable
2662000 usd
frt Repayment Of Mortgages Finance Leases And Notes Payable
RepaymentOfMortgagesFinanceLeasesAndNotesPayable
2528000 usd
frt Purchase Of Capped Calls
PurchaseOfCappedCalls
19448000 usd
frt Purchase Of Capped Calls
PurchaseOfCappedCalls
0 usd
us-gaap Nature Of Operations
NatureOfOperations
BUSINESS AND ORGANIZATION<div style="margin-top:5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Federal Realty Investment Trust (the "Parent Company" and the "Trust") is an equity real estate investment trust ("REIT"). Federal Realty OP LP (the "Operating Partnership") is the entity through which the Parent Company conducts substantially all of its operations and owns all of its assets. The Parent Company owns 100% of the limited liability company interests of, is sole member of and exercises exclusive control over Federal Realty GP LLC (the "General Partner"), which in turn, is the sole general partner of the Operating Partnership. The Parent Company specializes in the ownership, management, and redevelopment of retail and mixed-use properties through the Operating Partnership, and has no other substantial assets or liabilities other than through its investment in the Operating Partnership. Our properties are located primarily in communities where we believe retail demand exceeds supply, in strategically selected metropolitan markets in the Mid-Atlantic and Northeast regions of the United States, California, and South Florida. As of September 30, 2024, we owned or had a majority interest in community and neighborhood shopping centers and mixed-use properties which are operated as 102 predominantly retail real estate projects.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We operate in a manner intended to enable the Trust to qualify as a REIT for federal income tax purposes. A REIT that distributes at least 90% 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><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">General Economic Conditions</span></div><div style="margin-top:5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Heightened levels of inflation and higher interest rates present risks for our business and our tenants. We continue to monitor and address risks related to the general state of the economy. The extent of the future effects on our business, results of operations, cash flows, and growth strategies is highly uncertain and will ultimately depend on future developments, none of which can be predicted.</span></div>
CY2024Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
102 project
frt Minimum Percentage Of Taxable Income Distributed To Shareholders
MinimumPercentageOfTaxableIncomeDistributedToShareholders
0.90
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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>
us-gaap Interest Costs Incurred
InterestCostsIncurred
147939000 usd
us-gaap Interest Costs Incurred
InterestCostsIncurred
141994000 usd
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
15697000 usd
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
17159000 usd
us-gaap Interest Expense
InterestExpense
132242000 usd
us-gaap Interest Expense
InterestExpense
124835000 usd
us-gaap Interest Paid Net
InterestPaidNet
123586000 usd
us-gaap Interest Paid Net
InterestPaidNet
113414000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
190000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
778000 usd
frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
1259000 usd
frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
1275000 usd
frt Redemptionofdown Rei Toperatingpartnershipunitsforcommonshares
RedemptionofdownREIToperatingpartnershipunitsforcommonshares
366000 usd
frt Redemptionofdown Rei Toperatingpartnershipunitsforcommonshares
RedemptionofdownREIToperatingpartnershipunitsforcommonshares
883000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
97023000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
250825000 usd
CY2024Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
8583000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
9179000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
105606000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
260004000 usd
CY2024Q3 us-gaap Derivative Assets
DerivativeAssets
2800000 usd
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
3.280
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
3.270
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
3.250
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
3.240
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3777000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3738000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11952000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11868000 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
263000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
352000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
799000 usd
CY2024Q3 us-gaap Share Based Compensation
ShareBasedCompensation
3514000 usd
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
3386000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
11153000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
10831000 usd
CY2023Q3 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
300000 shares
CY2024Q3 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
300000 shares
CY2024Q3 us-gaap Profit Loss
ProfitLoss
63461000 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
59392000 usd
us-gaap Profit Loss
ProfitLoss
236132000 usd
us-gaap Profit Loss
ProfitLoss
180127000 usd
CY2024Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2008000 usd
CY2023Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2008000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6024000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6024000 usd
CY2024Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2508000 usd
CY2023Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2344000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
6461000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
7245000 usd
CY2024Q3 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
325000 usd
CY2023Q3 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
323000 usd
frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
988000 usd
frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
974000 usd
CY2024Q3 frt Net Income Available For Common Shareholders Basic
NetIncomeAvailableForCommonShareholdersBasic
58620000 usd
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
58620000 usd
CY2023Q3 frt Net Income Available For Common Shareholders Basic
NetIncomeAvailableForCommonShareholdersBasic
54717000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
54717000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
222659000 usd
frt Net Income Available For Common Shareholders Basic
NetIncomeAvailableForCommonShareholdersBasic
222659000 usd
frt Net Income Available For Common Shareholders Basic
NetIncomeAvailableForCommonShareholdersBasic
165884000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
165884000 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
83994000 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83994000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81274000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83180000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81210000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81210000 shares
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.70
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.70
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.67
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.67
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.68
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.68
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.04

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