$FRT (Federal Realty Investment Trust)

$FRT {{ '2016-08-05T15:43:36+0000' | timeago}} • Webcast

$FRT said that it has adjusted its guidance range to reflect the incremental interest expense from the July bond offering. The company does not expect to access the long-term debt market until late 2016 or early 2017 and had assumed funding on its line of credit. The impact is $0.03-0.04 & adjusted FFO per diluted share for 2016 will be $5.62-5.68.

$FRT {{ '2017-05-04T13:41:32+0000' | timeago}} • Announcement

$FRT declared a regular quarterly cash dividend of $0.98 per share. The dividend will be payable on July 17, 2017 to common shareholders as on June 22, 2017.

$FRT {{ '2017-05-04T13:38:59+0000' | timeago}} • Announcement

$FRT raised its FY17 guidance for FFO per diluted share to $5.85 to $5.93 and diluted EPS  guidance to $3.35 to $3.43.

$FRT {{ '2017-05-04T13:37:25+0000' | timeago}} • Announcement

Even though REIT $FRT's 1Q17 revenue climbed 4.5% to $207MM, its net income declined to $56.1MM, or $0.78 per share, from $76.8MM, or $1.10 per share a year ago. However,  FFO available for common shareholders was $105.8MM, or $1.45 per share, higher than $97.6MM, or $1.38 per share in 1Q16.

$FRT {{ '2017-04-05T20:59:35+0000' | timeago}} • Announcement

$FRT acquired Riverpoint Center, a 211,000 square foot grocery anchored community shopping center with surface parking on 17 acres of land in Chicago, Illinois. The property is located in affluent Lincoln Park and is 3.5 miles northwest of downtown Chicago. The Trust sourced the acquisition off-market for $107MM cash.

$FRT {{ '2017-02-14T17:59:37+0000' | timeago}} • Webcast

In terms of the challenging retail environment, $FRT said it is doing deals with retailers as best as it can, and at the same time, investing in retail properties and making sure that retailers are able to offer their goods.

$FRT {{ '2017-02-14T17:22:33+0000' | timeago}} • Webcast

From a capital standpoint, $FRT projects to spend approx. $400-450MM during 2017 for development, redevelopment and releasing, and $30MM for recently completed Pasadena acquisition.

$FRT {{ '2017-02-14T17:16:10+0000' | timeago}} • Webcast

$FRT said FFO per share for 1Q17 to be lower than 4Q16, driven impart by a step up in anchor repositioning strategies. The company also reiterated its same-store growth for 2017 of around 3%.

$FRT {{ '2017-02-13T21:33:21+0000' | timeago}} • Announcement

$FRT affirmed its 2017 funds from operations guidance of $5.83-5.93 per share and EPS outlook of $3.13-3.23. CEO Donald Wood said $FRT continues to execute on its long term, balanced business plan in order to further position its portfolio for the changing retail environment.

$FRT {{ '2017-02-13T21:30:41+0000' | timeago}} • Announcement

$FRT's Board of Trustees declared a regular quarterly cash dividend of $0.98 per common share, resulting in an indicated annual rate of $3.92 per common share. The dividend will be payable on April 17, 2017 to common shareholders of record as of March 14, 2017.

$FRT {{ '2017-02-13T21:29:58+0000' | timeago}} • Announcement

$FRT reported a drop in 4Q16 earnings due to last year's gain on sale of real estate and change in control of interests. Net income fell to $57.9MM or $0.80 per share from $67.82MM or $0.97 per share last year. Revenue grew to $204.11MM from $192.51MM. Funds from operations per share rose to $1.45 from $1.37.

$FRT {{ '2017-02-10T11:39:57+0000' | timeago}} • Announcement

$FRT announced the acquisition of Hastings Ranch Plaza, a 274,000 sq. ft. shopping center in Pasadena, California. The Trust acquired the leasehold interest in the shopping center for $29.5MM cash. Hastings Ranch is currently 100% occupied & $FRT expects increasing the value over time through potential redevelopment and/or re-leasing of space.

$FRT {{ '2017-02-09T13:57:22+0000' | timeago}} • Announcement

$FRT promoted Craig Klimisch to VP, Corporate Controller. In this capacity, Klimisch is responsible for all aspects of accounting functions and processes, internal and external financial reporting and SEC filing requirements.

$FRT {{ '2016-11-03T19:42:22+0000' | timeago}} • Webcast

$FRT projects a stabilized $17.5MM property operating income on Phase 1 in Pike & Rose. The company assumes it will get 75% of this income in 2017. This will progress into 2018 and stabilize in 2019.

$FRT {{ '2016-11-03T19:24:07+0000' | timeago}} • Webcast

$FRT expects overall portfolio occupancy to stay at the 93% level through 4Q16 and remain at this level for most of 2017. The company projects occupancy will begin to improve at the end of 2017 and continue into 2019.

$FRT {{ '2016-11-03T19:15:59+0000' | timeago}} • Webcast

In 3Q16, $FRT’s same-center property operating income grew 1.5% over 3Q15, including properties that are being redeveloped and 0.4% when excluding these properties. The impact of anchor vacancies, both proactively pursued and otherwise, weighed on the three month results and quarter-end occupancy.

$FRT {{ '2016-11-02T23:03:21+0000' | timeago}} • Announcement

$FRT narrowed its guidance for 2016 FFO per diluted to a range of $5.63-5.67 and adjusted 2016 diluted EPS guidance to a range of $3.47-3.51. The company provided initial 2017 FFO per diluted share guidance of $5.83-5.93 and 2017 diluted EPS guidance of $3.13-3.23.

$FRT {{ '2016-11-02T23:02:01+0000' | timeago}} • Announcement

$FRT posted higher earnings in 3Q16 compared to 3Q15, helped by an increase in total revenue. Net income available for common shareholders was $58.84MM or $0.82 per diluted share compared to $52.31MM or $0.75 per diluted share last year. Total revenue grew about 8% to $201.157MM in the quarter. FFO per diluted share was $1.41 versus $1.36 in 3Q15.

$FRT {{ '2016-08-05T16:18:52+0000' | timeago}} • Webcast

Citi analyst Christy McElroy asks $FRT if it's being more proactive in going out to owners to try and create its own supply of new deals with its current cost of capital. $FRT says that it is being proactive. The company is aggressively putting money at work in a way that is far more value creative than with any acquisition.

$FRT {{ '2016-08-05T16:11:17+0000' | timeago}} • Webcast

SunTrust analyst Ki Bin Kim asks $FRT to provide an update about Sunset Place and the recent lease-up. $FRT says that the recent lease-up is the Restoration Hardware deal that's taking long vacant space for what will be a short-term deal for them. This is a dysfunctional property and the company is doing it again to keep it moving.

$FRT {{ '2016-08-05T15:59:37+0000' | timeago}} • Webcast

Wells Fargo analyst Jeffrey Donnelly asks about the incremental retail space and how that impacts the leasing options. $FRT says that it is being very aggressive about merchandising the street, making Santana a great place to come. The company expects some headwinds when Valley Fair will start its expansion, but is not overly concerned about it.

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