Federal Realty Investment Q3 FFO Rises

(RTTNews) - Federal Realty Investment Trust (FRT), Wednesday reported funds from operations of $144.6 million, or $1.71 per share, compared to $135.3 million, or $1.65 per share in previous year.

Profit was $58.9 million or $0.70 per share versus $55.0 million or $0.67 per share last year.

Analysts, on average, polled by Thomson Reuters estimated earnings of $0.72 a share for the period.

Revenue increased to $303.6 million from $286.6 million in prior year.

Looking ahead, the company now estimates FFO of $6.76 to $6.86 a share instead of previously estimated $6.70 to $6.88 a share, and earnings of $3.40 to $3.50 a share instead of previously expected $3.33 to $3.51 a share for the fiscal year 2024.