Revenue by quarter
US$ · last 8| Quarter | Revenue | Net income | EPS |
|---|---|---|---|
| Q2 FY2026 | $335.7M | $85.7M | 0.97 |
| Q1 FY2026 | $341.1M | $159.1M | 1.81 |
| Q4 FY2025 | $336.0M | $129.7M | 1.48 |
| Q3 FY2025 | $322.3M | $61.6M | 0.69 |
Newest filings
All 657| Form | Filed | |
|---|---|---|
| 8-K | 11 Aug 2026 | |
| 10-Q | 31 Jul 2026 | |
| 8-K | 31 Jul 2026 | |
| 8-K | 6 May 2026 | |
| 10-Q | 1 May 2026 | |
| 8-K | 1 May 2026 | |
| 8-K | 15 Apr 2026 | |
| ARS | 27 Mar 2026 |
Description
- Ticker
- FRT-US
- Exchange
- NYSE
- Index
- S&P 500
- Industry
- Real Estate Investment Trusts
- SIC division
- Finance, insurance and real estate
- CIK
- 0000034903
- LEI
- 549300FHEI1SLVZ0RB48
- Fiscal year ends
- Dec
- Filings held
- 657 since 1994
- 8-K events
- 219
- Shares short
- 4.7M, 30 Sep 2026
Financial statements
The income statement, balance sheet and cash flow by year and by quarter, line by line as the company reports them. Each column names the filing it comes from.
| Fiscal period | FY2008 | FY2009 | FY2010 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Period ending | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Filed | 15 Feb 2011 | 16 Feb 2012 | 12 Feb 2013 | 11 Feb 2014 | 10 Feb 2015 | 9 Feb 2016 | 13 Feb 2017 | 13 Feb 2018 | 13 Feb 2019 | 10 Feb 2020 | 11 Feb 2021 | 10 Feb 2022 | 8 Feb 2023 | 12 Feb 2024 | 13 Feb 2025 | 12 Feb 2026 | 12 Feb 2026 | 12 Feb 2026 |
| Rental income | 501M | 511Mr | 523Mr | 537Mr | 580Mr | 620M | 666M | 728M | 787M | 854Mr | 912Mr | 933M | 832M | 949M | 1,048Mr | 1,101Mr | 1,170M | 1,246M |
| Other property income | 14M | 13Mr | 15M | 9.3Mr | 20Mr | 12M | 15M | 12M | 11M | 13M | 17M | – | – | – | 26M | 30M | 31M | 32M |
| Mortgage interest income | 4.5M | 4.9M | 4.6M | 5.1M | 5.5M | 5.2M | 5M | 4.4M | 4M | 3.1M | 3.1M | 3.1M | 3.3M | 2.4M | 1.1M | 1.1M | 1.1M | 1.1M |
| +Total revenue | 520M | 529Mr | 542Mr | 551Mr | 606Mr | 637M | 686M | 744M | 802M | 857M | 915M | 936M | 836M | 951M | 1,074M | 1,132M | 1,203M | 1,279M |
| +Rental expenses | 110M | 108Mr | 111Mr | 109Mr | 113Mr | 119M | 135M | 148M | 158M | 165M | 173M | 188M | 171M | 198M | 229M | 232M | 250M | 267M |
| +Real estate taxes | 55M | 58Mr | 59Mr | 60Mr | 67Mr | 72M | 77M | 86M | 95M | 108M | 115M | 111M | 119M | 119M | 128M | 131M | 142M | 151M |
| +General and administrative | 27M | 22M | 24M | 29M | 31M | 32M | 32M | 36M | 33M | 36M | 34M | 43M | 42M | 50M | 53M | 51M | 50M | 47M |
| +Depreciation and amortization | 111M | 114Mr | 119Mr | 126Mr | 142Mr | 161M | 171M | 175M | 194M | 216M | 244M | 240M | 255M | 280M | 302M | 322M | 343M | 368M |
| −Total operating expenses | 302M | 319Mr | 313Mr | 325Mr | 352Mr | 383M | 415M | 444M | 481M | 525M | 566M | 581M | 587M | 646M | 712M | 736M | 784M | 834M |
| Gain on sale of real estate, net | – | 0M | 0.4M | 0M | 12M | 5M | 4.4M | 28M | – | 78M | 12M | 116M | – | – | – | – | – | – |
| +New market tax credit transaction income | – | – | – | – | – | – | – | – | – | – | – | – | 0M | 0M | 70M | 0M | 0M | 14M |
| +Gain on sale of real estate | – | – | 0M | 0M | 0M | 0M | 0M | 0M | – | – | – | – | 98M | 90M | 94M | 9.9M | 54M | 150M |
| −Impairment charge | – | – | – | – | – | – | – | – | – | – | 0M | 0M | 57M | 0M | 0M | 0M | 0M | 7.4M |
| Gain on sale of real estate and change in control of interest, net of tax | 13M | 1.3M | 1.4M | 15M | 12M | 29M | 4.4M | 28M | – | – | 12M | 116M | 98M | 90M | – | – | – | – |
| OPERATING INCOME | 217M | 210Mr | 229Mr | 227Mr | 254Mr | 254M | 271M | 300M | 321M | 410Mr | 362Mr | 471M | 290M | 395M | 526M | 407M | 472M | 602M |
| % of total revenue | 41.8% | 39.6% | 42.3% | 41.1% | 41.9% | 39.9% | 39.5% | 40.3% | 40.0% | 47.8% | 39.5% | 50.3% | 34.7% | 41.5% | 49.0% | 35.9% | 39.3% | 47.1% |
| +Other interest income | 0.9M | 1.9M | 0.3M | 0.2M | 0.7M | 0.4M | 0.1M | 0.1M | 0.4M | 0.5M | 0.9M | 1.3M | 1.9M | 0.8M | 1.1M | 4.7M | 4.3M | 3.1M |
| −Interest expense | 99M | 109M | 102M | 99M | 113M | 105M | 94M | 93M | 95M | 100M | 110M | 110M | 136M | 128M | 137M | 168M | 176M | 184M |
| Early extinguishment of debt | – | -2.6M | -2.8M | 0.3M | 0M | -13M | -11M | -19M | 0M | -12M | 0M | 0M | -11M | 0M | 0M | – | – | – |
| +Income from partnerships | 1.6M | 1.3M | 1.1M | 1.8M | 1.8M | 1.5M | 1.2M | 1.4M | 0.1M | -0.4M | -3.4M | -2M | -8.1M | 1.2M | 5.2M | 3.9M | 3.2M | 1.9M |
| NET INCOME | 135M | 104M | 128M | 150M | 156M | 168M | 172M | 218M | 259M | 298M | 249M | 361M | 136M | 269M | 396M | 247M | 304M | 424M |
| % of total revenue | 26.0% | 19.7% | 23.7% | 27.1% | 25.8% | 26.3% | 25.1% | 29.4% | 32.3% | 34.7% | 27.2% | 38.5% | 16.3% | 28.3% | 36.8% | 21.8% | 25.3% | 33.1% |
| −Net income attributable to noncontrolling interests | 5.4M | 5.6M | 5.4M | 5.7M | 4.3M | 4.9M | 7.8M | 8.2M | 9M | 8M | 7.1M | 6.7M | 4.2M | 7.6M | 10M | 10M | 9.1M | 13M |
| NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP | 130M | 98M | 123M | 144M | 152M | 163M | 165M | 210M | 250M | 290M | 242M | 354M | 132M | 262M | 386M | 237M | 295M | 411M |
| % of total revenue | 25.0% | 18.6% | 22.7% | 26.1% | 25.1% | 25.5% | 24.0% | 28.3% | 31.2% | 33.8% | 26.4% | 37.8% | 15.8% | 27.5% | 35.9% | 20.9% | 24.6% | 32.1% |
| −Dividends on preferred shares | 0.5M | 0.5M | 0.5M | 0.5M | 0.5M | 0.5M | 0.5M | 0.5M | 0.5M | 2.5M | 8M | 8M | 8M | 8M | 8M | 8M | 8M | 8M |
| NET INCOME AVAILABLE FOR COMMON SHAREHOLDERS | 129M | 98M | 122M | 143M | 151M | 162M | 164M | 210M | 249M | 288M | 234M | 346M | 124M | 254M | 378M | 229M | 287M | 403M |
| % of total revenue | 24.9% | 18.5% | 22.6% | 26.0% | 25.0% | 25.4% | 23.9% | 28.2% | 31.1% | 33.5% | 25.5% | 37.0% | 14.8% | 26.6% | 35.1% | 20.2% | 23.9% | 31.5% |
| Net income available for common shareholders | 2.19 | 1.63 | 1.99 | 2.29 | 2.36 | 2.47 | 2.42 | 3.04 | 3.51 | 3.97 | 3.18 | 4.61 | 1.62 | 3.26 | 4.71 | 2.80 | 3.42 | 4.68 |
| Weighted average number of common shares | 59M | 60M | 61M | 62M | 64M | 65M | 67M | 69M | 71M | 72M | 73M | 75M | 76M | 77M | 80M | 81M | 84M | 86M |
| Net income available for common shareholders | 2.19 | 1.63 | 1.98 | 2.28 | 2.35 | 2.46 | 2.41 | 3.03 | 3.50 | 3.97 | 3.18 | 4.61 | 1.62 | 3.26 | 4.71 | 2.80 | 3.42 | 4.68 |
| Weighted average number of common shares | 59M | 60M | 61M | 63M | 64M | 66M | 68M | 69M | 71M | 72M | 73M | 75M | 76M | 77M | 81M | 81M | 84M | 86M |
| +Other comprehensive income - change in value of interest rate swaps | – | – | 0M | -3.9M | -8.4M | 11M | -2.1M | -0.6M | 1.5M | 2.6M | -0.4M | -0.4M | -5.3M | 3.9M | 8.6M | -1.8M | 0.7M | -2.9M |
| COMPREHENSIVE INCOME | – | – | 128M | 146M | 148M | 179M | 170M | 218M | 260M | 301M | 249M | 360M | 131M | 273M | 404M | 245M | 305M | 421M |
| −Comprehensive income attributable to noncontrolling interests | – | – | 5.4M | 5.7M | 4.3M | 4.9M | 7.8M | 8.2M | 9M | 8M | 7.1M | 6.7M | 3.7M | 7.9M | 11M | 10M | 9.1M | 12M |
| COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP | – | – | 123M | 140M | 144M | 174M | 162M | 210M | 251M | 293M | 242M | 354M | 127M | 265M | 393M | 235M | 296M | 408M |
Hover a figure for its source.r restated in a later filing– not reported in that period
Lines in the order and wording of the 10-K filed 12 Feb 2026. 287 of 287 subtotals add up to the company's own totals, and the balance sheet balances in 82 of 82 periods. Newest filing read: 31 Jul 2026.
Free for personal research, with credit (Data by Shikshan Nivesh) and a link. API access, bulk files and commercial use need a licence: the data licence.
Charts
Any figure or ratio in the record, by year, by quarter or on a trailing twelve months, as a value or as growth, against a peer if you like. Hover for the figures.
Revenue · quarterly · US$
Latest Jun 2026: $335.71M
Revenue = rev
Method. Each month-end, the trailing-twelve-month diluted EPS known that month (from filings filed by then) at the 10th, 50th and 90th percentile of this stock's own month-end P/E from 2012-05 to 2026-10. Months with the figure at or below zero are left out. A summary of the multiples the stock has traded at, not a value.
Ratios
Every ratio, worked out the same way for every company, by year or on a trailing twelve months. Hover a ratio for its formula.
| Fiscal year ending | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on common equity | – | – | 10.8% | 12.4% | 12.1% | 11.9% | 10.7% | 12.8% | 13.7% | 13.5% | 10.1% | 14.2% | 4.9% | 10.0% | 13.6% | 7.7% | 9.4% | 12.6% |
| Return on assets | – | – | 3.8% | 4.2% | 4.0% | 4.0% | 3.8% | 4.5% | 4.8% | 5.0% | 3.9% | 5.4% | 1.8% | 3.4% | 4.9% | 2.8% | 3.5% | 4.7% |
| Return on capital | – | – | 6.8% | 6.3% | 6.6% | 6.2% | 6.1% | 6.3% | 6.1% | 6.8% | 5.5% | 6.7% | 3.7% | 4.9% | 6.4% | 4.7% | 5.3% | 6.7% |
| Return on invested capital | – | – | 7.0% | 6.4% | 6.7% | 6.3% | 6.2% | 6.4% | 6.1% | 6.8% | 5.5% | 6.8% | 4.0% | 5.3% | 6.5% | 4.8% | 5.5% | 6.8% |
| Operating margin | 41.8% | 39.6% | 42.3% | 41.1% | 41.9% | 39.9% | 39.5% | 40.3% | 40.0% | 47.8% | 39.5% | 50.3% | 34.7% | 41.5% | 49.0% | 35.9% | 39.3% | 47.1% |
| Incremental operating margin | – | −86.2% | 148.8% | −29.6% | 50.1% | 0.9% | 34.7% | 50.3% | 36.2% | 160.0% | −83.6% | 536.9% | 180.9% | 90.9% | 106.9% | −207.6% | 93.7% | 169.7% |
| Profit margin | 25.0% | 18.6% | 22.7% | 26.1% | 25.1% | 25.5% | 24.0% | 28.3% | 31.2% | 33.8% | 26.4% | 37.8% | 15.8% | 27.5% | 35.9% | 20.9% | 24.6% | 32.1% |
| Net income to common margin | 24.9% | 18.5% | 22.6% | 26.0% | 25.0% | 25.4% | 23.9% | 28.2% | 31.1% | 33.5% | 25.5% | 37.0% | 14.8% | 26.6% | 35.1% | 20.2% | 23.9% | 31.5% |
What the company said with its results
The key points, guidance and management's own words from each of the last four results releases.
Key points
Core FFO per share rose 6.8%
Core FFO per diluted share was $1.88 for the quarter, against $1.76 a year earlier, a 6.8% increase.
Nareit FFO per share declined 1.6%
Nareit FFO per diluted share was $1.88 against $1.91. The decline reflects $13.0 million, or $0.15 per share, of one-time new market tax credit income in the second quarter of 2025.
Net income per share fell on lower gains
Net income available for common shareholders per diluted share was $0.97 against $1.78. The gain on sale of real estate was $20.6 million against $76.5 million.
Six-month Nareit FFO per share higher
For the six months, Nareit FFO per diluted share was $3.75 against $3.61, and net income per diluted share was $2.78 against $2.51.
Total revenue rose on rental income
Total revenue was $335.7 million against $311.5 million, with rental income at $325.9 million against $302.5 million.
Record comparable leasing volume
124 comparable retail leases covering 819,273 square feet were signed, an all-time volume record for the company.
Trailing twelve-month leasing record
Over the trailing twelve months, 453 comparable leases covering 2,796,064 square feet were signed, a record for any 12-month period, with 17% cash and 29% straight-line rent growth.
Leased rate up, occupancy flat
Overall occupancy was 93.8%, flat sequentially and up 20 basis points year-over-year. The leased rate was 96.1%, flat sequentially and up 70 basis points year-over-year.
Small shop leased rate up
The small shop leased rate was 93.9%, up 10 basis points from the first quarter and up 50 basis points year-over-year.
Blayr residential units fully delivered
The residential units at Blayr in Bala Cynwyd were fully delivered. The building also has 19,000 square feet of ground-floor retail and is being leased up for the first time.
Two office buildings fully leased
The 369,000 square foot Santana West office building is fully leased, with $315 million to $335 million of projected cost. The 262,000 square foot 915 Meeting Street office building at Pike & Rose is also fully leased.
Kingstowne retail assemblage completed
An adjacent 88,000 square foot parcel at Kingstowne Towne Center in Alexandria was acquired for $19.7 million on April 17, completing the assemblage.
Portfolio of 103 properties
The portfolio comprises 103 properties with about 3,700 tenants in 28.8 million commercial square feet and about 2,500 residential units.
Rental expenses and G&A rose
Rental expenses were $64.5 million against $61.6 million. General and administrative expense was $13.5 million against $11.9 million.
Guidance
- Net income available for common shareholders per diluted share$4.22 to $4.30Full year 2026 · raised from $3.94 to $4.03
- Nareit FFO per diluted share$7.48 to $7.56Full year 2026 · raised from $7.46 to $7.55
- Core FFO per diluted share$7.48 to $7.56Full year 2026 · raised from $7.46 to $7.55
- Comparable property POI growth3.25% to 3.75%Full year 2026 · raised from 3.125% to 3.625%
- Core FFO growth over prior year5.9% to 7.1%Full year 2026 · raised from 5.7% to 6.9%
- Lease termination fees$10 million to $11 millionFull year 2026 · raised from $8 million to $9 million
- Incremental redevelopment and expansion POI$14.5 million to $15.5 millionFull year 2026 · raised from $14 million to $15 million
- General and administrative expenses$49 million to $51 millionFull year 2026 · raised from $47 million to $49 million
- Development and redevelopment capital$175 million to $225 millionFull year 2026 · kept from $175 million to $225 million
- Capitalized interest$11 million to $12 millionFull year 2026 · kept from $11 million to $12 million
- Gain on sale of real estate per diluted share$1.30Full year 2026 · not stated
In their words
“This was another quarter of record leasing activity and outsized FFO growth, extending a trend we've sustained for several quarters now, and it's exactly why we're confident executing against the long-term plan we shared with investors at Santana Row” Donald C. Wood, President and Chief Executive Officer
“It all comes back to productivity — getting more out of the exceptional real estate we already own — and that discipline is what's translating into durable growth for our shareholders” Donald C. Wood, President and Chief Executive Officer
Coming up
Common dividend payable October 15. The $1.16 regular common dividend is payable October 15, 2026 to holders of record October 1, 2026, and the Class C depositary share dividend is payable on the same dates.
Telephonic replay through August 14. A telephonic replay of the second quarter 2026 conference call is available through August 14, 2026.
Bethesda Row mortgage maturity. The $200.0 million mortgage secured by Bethesda Row matures December 28, 2026, with one one-year extension at the company's option.
Revenue by segment
As the company reports it in the segment note of each annual report: by business, by product and by region, latest year.
This company reports no segment split in its annual report.
Company events
Every 8-K, sorted by the event it reports, with the moment the SEC accepted it in New York time.
| 11 Aug 2026 | 8-K | Material agreementNew debtShare saleOther events | 1.01, 2.03, 3.02, 8.01, 9.01 | |
| 31 Jul 2026 | 8-K | Results | 2.02, 9.01 | |
| 6 May 2026 | 8-K | Shareholder vote | 5.07 | |
| 1 May 2026 | 8-K | Results | 2.02, 9.01 | |
| 15 Apr 2026 | 8-K | Material agreementAgreement endedNew debt | 1.01, 1.02, 2.03, 9.01 | |
| 12 Feb 2026 | 8-K | Results | 2.02, 9.01 | |
| 20 Nov 2025 | 8-K | Material agreement | 1.01, 9.01 | |
| 10 Nov 2025 | 8-K | Leadership change | 5.02 | |
| 31 Oct 2025 | 8-K | Results | 2.02, 9.01 | |
| 6 Aug 2025 | 8-K | Results | 2.02, 9.01 | |
| 9 May 2025 | 8-K | Leadership changeShareholder vote | 5.02, 5.07, 9.01 | |
| 8 May 2025 | 8-K | Results | 2.02, 9.01 | |
| 11 Apr 2025 | 8-K | Investor update | 7.01, 9.01 | |
| 21 Mar 2025 | 8-K | Material agreementAgreement endedNew debt | 1.01, 1.02, 2.03, 9.01 | |
| 14 Feb 2025 | 8-K | Leadership changeOther events | 5.02, 8.01, 9.01 | |
| 13 Feb 2025 | 8-K | Results | 2.02, 9.01 | |
| 15 Nov 2024 | 8-K | Leadership changeInvestor update | 5.02, 7.01, 9.01 | |
| 30 Oct 2024 | 8-K | Results | 2.02, 9.01 | |
| 1 Aug 2024 | 8-K | Results | 2.02, 9.01 | |
| 2 May 2024 | 8-K | Shareholder vote | 5.07, 9.01 | |
| 2 May 2024 | 8-K | Results | 2.02, 9.01 | |
| 11 Mar 2024 | 8-K | Other events | 8.01, 9.01 | |
| 12 Feb 2024 | 8-K | Results | 2.02, 9.01 | |
| 11 Jan 2024 | 8-K | Material agreementNew debtShare saleOther events | 1.01, 2.03, 3.02, 8.01, 9.01 | |
| 2 Nov 2023 | 8-K | Results | 2.02, 9.01 | |
| 2 Aug 2023 | 8-K | Results | 2.02, 9.01 | |
| 5 May 2023 | 8-K | Shareholder vote | 5.07, 9.01 | |
| 4 May 2023 | 8-K | Results | 2.02, 9.01 | |
| 12 Apr 2023 | 8-K | Other events | 8.01, 9.01 | |
| 9 Feb 2023 | 8-K | Leadership changeBylaws or fiscal year change | 5.02, 5.03, 9.01 | |
| 8 Feb 2023 | 8-K | Results | 2.02, 9.01 | |
| 3 Nov 2022 | 8-K | Results | 2.02, 9.01 | |
| 11 Oct 2022 | 8-K | Material agreementAgreement endedNew debt | 1.01, 1.02, 2.03, 9.01 | |
| 26 Sep 2022 | 8-K | Leadership change | 5.02, 9.01 | |
| 4 Aug 2022 | 8-K | Results | 2.02, 9.01 | |
| 5 May 2022 | 8-K | Shareholder vote | 5.07, 9.01 | |
| 5 May 2022 | 8-K | Results | 2.02, 9.01 | |
| 14 Feb 2022 | 8-K | Other events | 8.01, 9.01 | |
| 11 Feb 2022 | 8-K | Leadership change | 5.02 | |
| 10 Feb 2022 | 8-K | Results | 2.02, 9.01 | |
| 5 Jan 2022 | 8-K | Change in controlLeadership changeShareholder rights changeBylaws or fiscal year change | 3.03, 5.01, 5.02, 5.03, 9.01 | |
| 3 Jan 2022 | 8-K12B | Change in controlLeadership changeMaterial agreementDelisting noticeShareholder rights changeBylaws or fiscal year change | 1.01, 3.01, 3.03, 5.01, 5.02, 5.03, 9.01 | |
| 2 Dec 2021 | 8-K | Other events | 8.01, 9.01 | |
| 4 Nov 2021 | 8-K | Results | 2.02, 9.01 | |
| 5 Aug 2021 | 8-K | Leadership change | 5.02 | |
| 4 Aug 2021 | 8-K | Results | 2.02, 9.01 | |
| 7 May 2021 | 8-K | Other events | 8.01, 9.01 | |
| 6 May 2021 | 8-K | Shareholder vote | 5.07 | |
| 5 May 2021 | 8-K | Results | 2.02, 9.01 | |
| 19 Apr 2021 | 8-K | Material agreement | 1.01, 9.01 |
Every filing
The company's filings with the SEC, newest first: 657 held. Insider, fund and large-holder filings have their own tables below.
| 11 Aug 2026 | 8-K | 6 Aug 2026 | |
| 31 Jul 2026 | 10-Q | 30 Jun 2026 | |
| 31 Jul 2026 | 8-K | 31 Jul 2026 | |
| 6 May 2026 | 8-K | 6 May 2026 | |
| 1 May 2026 | 10-Q | 31 Mar 2026 | |
| 1 May 2026 | 8-K | 1 May 2026 | |
| 15 Apr 2026 | 8-K | 14 Apr 2026 | |
| 27 Mar 2026 | ARS | 31 Dec 2025 | |
| 27 Mar 2026 | DEFA14A | – | |
| 27 Mar 2026 | DEF 14A | 6 May 2026 | |
| 12 Feb 2026 | 10-K | 31 Dec 2025 | |
| 12 Feb 2026 | 8-K | 12 Feb 2026 | |
| 20 Nov 2025 | 8-K | 17 Nov 2025 | |
| 10 Nov 2025 | 8-K | 7 Nov 2025 | |
| 31 Oct 2025 | 10-Q | 30 Sep 2025 | |
| 31 Oct 2025 | 8-K | 31 Oct 2025 | |
| 6 Aug 2025 | 10-Q | 30 Jun 2025 | |
| 6 Aug 2025 | 8-K | 6 Aug 2025 | |
| 9 May 2025 | 8-K | 7 May 2025 | |
| 8 May 2025 | 10-Q | 31 Mar 2025 | |
| 8 May 2025 | 8-K | 8 May 2025 | |
| 11 Apr 2025 | 8-K | 10 Apr 2025 | |
| 28 Mar 2025 | ARS | 31 Dec 2024 | |
| 28 Mar 2025 | DEFA14A | – | |
| 28 Mar 2025 | DEF 14A | 7 May 2025 | |
| 21 Mar 2025 | 8-K | 20 Mar 2025 | |
| 6 Mar 2025 | UPLOAD | – | |
| 4 Mar 2025 | CORRESP | – | |
| 28 Feb 2025 | UPLOAD | – | |
| 14 Feb 2025 | 8-K | 12 Feb 2025 | |
| 13 Feb 2025 | 10-K | 31 Dec 2024 | |
| 13 Feb 2025 | 8-K | 13 Feb 2025 | |
| 15 Nov 2024 | 8-K | 14 Nov 2024 | |
| 30 Oct 2024 | 10-Q | 30 Sep 2024 | |
| 30 Oct 2024 | 8-K | 30 Oct 2024 | |
| 1 Aug 2024 | 10-Q | 30 Jun 2024 | |
| 1 Aug 2024 | 8-K | 1 Aug 2024 | |
| 2 May 2024 | 8-K | 1 May 2024 | |
| 2 May 2024 | 10-Q | 31 Mar 2024 | |
| 2 May 2024 | 8-K | 2 May 2024 | |
| 22 Mar 2024 | ARS | 31 Dec 2023 | |
| 22 Mar 2024 | DEFA14A | – | |
| 22 Mar 2024 | DEF 14A | 1 May 2024 | |
| 11 Mar 2024 | 8-K | 8 Mar 2024 | |
| 8 Mar 2024 | S-3ASR | – | |
| 8 Mar 2024 | S-3ASR | – | |
| 12 Feb 2024 | 10-K | 31 Dec 2023 | |
| 12 Feb 2024 | 8-K | 12 Feb 2024 | |
| 11 Jan 2024 | 8-K | 8 Jan 2024 | |
| 2 Nov 2023 | 10-Q | 30 Sep 2023 |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months, with the shares they held after.
| 30 Sep 2026 | Lamb-Hale NicoleDirector | Sale outside a trading plan | 200 | $108.85 | $21.8K | 5,913 | 1 Oct 2026 |
| 30 Sep 2026 | Lamb-Hale NicoleDirector | Sale outside a trading plan | 100 | $108.86 | $10.9K | 5,813 | 1 Oct 2026 |
| 30 Sep 2026 | Lamb-Hale NicoleDirector | Sale outside a trading plan | 380 | $108.87 | $41.4K | 5,433 | 1 Oct 2026 |
| 30 Sep 2026 | Lamb-Hale NicoleDirector | Sale outside a trading plan | 140 | $108.88 | $15.2K | 5,293 | 1 Oct 2026 |
| 30 Sep 2026 | Lamb-Hale NicoleDirector | Sale outside a trading plan | 200 | $108.89 | $21.8K | 5,093 | 1 Oct 2026 |
| 30 Sep 2026 | Lamb-Hale NicoleDirector | Sale outside a trading plan | 40 | $108.91 | $4.4K | 5,053 | 1 Oct 2026 |
| 30 Sep 2026 | Lamb-Hale NicoleDirector | Sale outside a trading plan | 60 | $108.92 | $6.5K | 4,993 | 1 Oct 2026 |
| 30 Sep 2026 | Lamb-Hale NicoleDirector | Sale outside a trading plan | 80 | $108.93 | $8.7K | 4,913 | 1 Oct 2026 |
| 30 Sep 2026 | Lamb-Hale NicoleDirector | Sale outside a trading plan | 100 | $108.95 | $10.9K | 4,813 | 1 Oct 2026 |
| 30 Sep 2026 | Lamb-Hale NicoleDirector | Sale outside a trading plan | 200 | $108.96 | $21.8K | 4,613 | 1 Oct 2026 |
Planned insider sales
Form 144 notices, filed when the sell order goes to the broker.
| 30 Sep 2026 | Nicole Lamb-HaleDirector | 1,500 | $162.4K | 30 Sep 2026 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| 12 Aug 2026 | Norges Bank | 13G amended | 6.476% | 5.6M |
| 29 Apr 2026 | Vanguard Portfolio Management | 13G | 8.44% | 7.3M |
| 29 Apr 2026 | Vanguard Capital Management | 13G | 7.1% | 6.1M |
| 26 Mar 2026 | The Vanguard Group | 13G amended | 0% | 0 |
Trades by members of the House
From each member's periodic transaction report: the amount is the band the report gives.
| 22 Jul 2019 | Tom MalinowskiNJ07 | Purchase | $1,001 - $15,000 | Self | 9 Jul 2021 |
| 18 Jan 2019 | Tom MalinowskiNJ07 | Purchase | $15,001 - $50,000 | Self | 9 Jul 2021 |
| 25 Oct 2019 | Tom MalinowskiNJ07 | Sale | $1,001 - $15,000 | Self | 9 Jul 2021 |
| 25 Oct 2019 | Tom MalinowskiNJ07 | Sale | $15,001 - $50,000 | Self | 9 Jul 2021 |
| 25 Mar 2020 | Tom MalinowskiNJ07 | Purchase | $15,001 - $50,000 | Self | 5 Mar 2021 |
Short interest
Shares sold short and not yet bought back, on every FINRA settlement date.
| 30 Sep 2026 | 4.7M | +27.73% | 4.06 |
| 15 Sep 2026 | 3.7M | -1.46% | 5.14 |
| 31 Aug 2026 | 3.7M | +7.04% | 6.31 |
| 14 Aug 2026 | 3.5M | +14.01% | 3.58 |
| 31 Jul 2026 | 3.1M | +1.42% | 3.23 |
| 15 Jul 2026 | 3.0M | -8.39% | 4.38 |
| 30 Jun 2026 | 3.3M | +1.06% | 3.42 |
| 15 Jun 2026 | 3.3M | -2.17% | 3.06 |
| 29 May 2026 | 3.3M | +0.8% | 3.46 |
| 15 May 2026 | 3.3M | +29.04% | 3.4 |
Funds that hold it
Every fund's holding from its latest Form 13F, largest first, with what it added or trimmed in the quarter.
Funds holding
669
quarter to 30 Jun 2026
Added or new
342
since 31 Mar 2026
Trimmed
161
in the quarter
Largest holder
BlackRock, Inc.
$1.3B
| BlackRock, Inc. | $1.3B | 10.2M | +1.5M | Added | 0.02% | Filing ↗ |
| Vanguard Portfolio Management LLC | $885.7M | 7.2M | -108.6K | Trimmed | 0.04% | Filing ↗ |
| State Street Corp. | $783.9M | 6.4M | -28.5K | Trimmed | 0.02% | Filing ↗ |
| Norges Bank | $690.6M | 5.6M | – | Held | 0.07% | Filing ↗ |
| Vanguard Capital Management LLC | $667.4M | 5.4M | +25.8K | Added | 0.01% | Filing ↗ |
| Resolution Capital Ltd | $391.0M | 3.2M | -476.8K | Trimmed | 7.19% | Filing ↗ |
| Invesco Ltd. | $313.3M | 2.5M | -150.6K | Trimmed | 0.03% | Filing ↗ |
| AQR Capital Management LLC | $312.2M | 2.5M | +403.5K | Added | 0.11% | Filing ↗ |
| Geode Capital Management, LLC | $287.5M | 2.3M | +40.2K | Added | 0.01% | Filing ↗ |
| Price T Rowe Associates Inc. | $221.2M | 1.8M | +980.0K | Added | 0.02% | Filing ↗ |
| Northern Trust Corp. | $204.7M | 1.7M | +23.9K | Added | 0.02% | Filing ↗ |
| JPMorgan Chase & Co. | $191.2M | 1.5M | +472.6K | Added | 0.01% | Filing ↗ |
| Charles Schwab Investment Management Inc. | $189.5M | 1.5M | +44.2K | Added | 0.03% | Filing ↗ |
| ProShare Advisors LLC | $180.7M | 1.5M | -164.8K | Trimmed | 0.26% | Filing ↗ |
| Dimensional Fund Advisors LP | $158.7M | 1.3M | +1.6K | Added | 0.03% | Filing ↗ |
| Massachusetts Financial Services Co. | $121.2M | 922.1K | -84.3K | Trimmed | 0.04% | Filing ↗ |
| Morgan Stanley | $109.4M | 886.1K | -182.4K | Trimmed | 0.01% | Filing ↗ |
| Wells Fargo & Company | $105.5M | 854.6K | -9.9K | Trimmed | 0.02% | Filing ↗ |
| Ameriprise Financial Inc. | $104.9M | 874.8K | +556.3K | Added | 0.02% | Filing ↗ |
| Goldman Sachs Group Inc. | $93.1M | 754.0K | +75.2K | Added | 0.01% | Filing ↗ |
| FMR LLC | $88.3M | 715.0K | -568.3K | Trimmed | 0.00% | Filing ↗ |
| Bank of New York Mellon Corp | $84.3M | 683.2K | +22.7K | Added | 0.01% | Filing ↗ |
| Nuveen, LLC | $82.3M | 666.6K | -347.0K | Trimmed | 0.02% | Filing ↗ |
| Legal & General Group Plc | $79.4M | 643.2K | -62.5K | Trimmed | 0.02% | Filing ↗ |
| Arrowstreet Capital, Limited Partnership | $69.7M | 564.7K | +564.7K | New | 0.03% | Filing ↗ |
| UBS AM, a distinct business unit of UBS Asset Management Americas LLC | $69.0M | 558.8K | +554.4K | Added | 0.01% | Filing ↗ |
| Bank of America Corp. | $68.2M | 552.1K | +42.6K | Added | 0.00% | Filing ↗ |
| Quantinno Capital Management LP | $68.1M | 551.8K | +203.6K | Added | 0.08% | Filing ↗ |
| Wellington Management Group LLP | $59.8M | 484.7K | +484.7K | New | 0.01% | Filing ↗ |
| Nomura Asset Management Co. Ltd | $57.3M | 464.0K | -31.3K | Trimmed | 0.12% | Filing ↗ |
| Vanguard Fiduciary Trust Co. | $55.3M | 448.2K | -163 | Held | 0.01% | Filing ↗ |
| Vest Financial, LLC | $53.9M | 437.0K | -68.5K | Trimmed | 0.57% | Filing ↗ |
| Two Sigma Investments, LP | $46.9M | 379.6K | +146.7K | Added | 0.04% | Filing ↗ |
| Victory Capital Management Inc. | $46.5M | 376.7K | +9.4K | Added | 0.03% | Filing ↗ |
| Deutsche Bank AG | $44.4M | 359.4K | -44.5K | Trimmed | 0.01% | Filing ↗ |
| Cbre Investment Management Listed Real Assets LLC | $43.4M | 351.8K | +176.9K | Added | 0.60% | Filing ↗ |
| First Trust Advisors LP | $43.2M | 350.1K | -32.0K | Trimmed | 0.03% | Filing ↗ |
| Adage Capital Partners GP, L.l.c. | $43.1M | 349.4K | -105.6K | Trimmed | 0.06% | Filing ↗ |
| Sei Investments Co. | $42.2M | 342.3K | -58.4K | Trimmed | 0.04% | Filing ↗ |
| Citigroup Inc. | $38.8M | 314.2K | +13.9K | Added | 0.02% | Filing ↗ |
| Citadel Advisors LLC | $38.3M | 310.2K | +288.4K | Added | 0.02% | Filing ↗ |
| UBS Group AG | $37.3M | 302.4K | -106.4K | Trimmed | 0.01% | Filing ↗ |
| Gotham Asset Management, LLC | $36.8M | 298.3K | +71.8K | Added | 0.09% | Filing ↗ |
| Bank of Montreal | $35.5M | 288.0K | +10.3K | Added | 0.01% | Filing ↗ |
| HSBC Holdings PLC | $34.9M | 281.9K | +9.2K | Added | 0.02% | Filing ↗ |
| Curi Capital, LLC | $34.0M | 275.7K | -5.4K | Trimmed | 0.53% | Filing ↗ |
| Woodline Partners LP | $33.9M | 274.7K | -118.9K | Trimmed | 0.10% | Filing ↗ |
| Private Management Group Inc. | $33.9M | 274.7K | -2.3K | Trimmed | 0.89% | Filing ↗ |
| Royal Bank of Canada | $33.8M | 274.1K | +47.2K | Added | 0.01% | Filing ↗ |
| APG Asset Management US Inc. | $32.5M | 269.9K | -3.4K | Trimmed | 0.23% | Filing ↗ |
Executive pay and performance
What the chief executive and the other named officers were paid, as reported and as actually paid, next to the shareholder return and net income, from each proxy's pay-versus-performance table.
| Fiscal year | CEO pay, as reported | CEO pay, actually paid | Other officers, as reported (average) | Other officers, actually paid (average) | Shareholder return, $100 | Peer return, $100 | Net income | NAREIT FFO per diluted share | Proxy |
|---|---|---|---|---|---|---|---|---|---|
| FY ending 31 Dec 2025 | $9.9M | $8.4M | $2.9M | $2.6M | $134 | $155 | $423.6Mn | 7 | DEF 14A 27 Mar 2026 |
| FY ending 31 Dec 2024 | $9.2M | $11.3M | $2.3M | $2.7M | $153 | $171 | $304.3Mn | 7 | DEF 14A 27 Mar 2026 |
| FY ending 31 Dec 2023 | $8.9M | $10.0M | $2.4M | $2.6M | $137 | $155 | $247.2Mn | 7 | DEF 14A 27 Mar 2026 |
| FY ending 31 Dec 2022 | $8.9M | $6.6M | $2.0M | $1.6M | $128 | $142 | $395.7Mn | 6 | DEF 14A 27 Mar 2026 |
| FY ending 31 Dec 2021 | $7.5M | $15.4M | $2.3M | $3.6M | $166 | $164 | $269.1Mn | 6 | DEF 14A 27 Mar 2026 |
| FY ending 31 Dec 2020 | $7.5M | $1.8M | $1.8M | $0.9M | $69 | $73 | $135.9Mn | 4 | DEF 14A 28 Mar 2025 |
Each year from the newest proxy that reports it. Pay actually paid follows the SEC's definition and can be below zero when share awards fall in value. n the proxy's net income differs from the 10-K or was tagged without its scale: hover for which.
Shareholder votes
The vote count on every proposal at each meeting, from the company's 8-K.
| Proposal | For | Against or withheld | Abstain | Broker non-votes | For, % of for and against | Result |
|---|---|---|---|---|---|---|
| Proposal 1 (the filing doesn't name it) | ||||||
| David W. Faeder | 71,800,617 | 2,663,552 | 39,565 | 4,732,290 | 96.4% | – |
| Joseph D. Fisher | 74,434,624 | 37,700 | 31,411 | 4,732,290 | 99.9% | – |
| Elizabeth I. Holland | 72,955,956 | 1,508,522 | 39,257 | 4,732,290 | 98.0% | – |
| Nicole Y. Lamb-Hale | 73,848,224 | 519,841 | 135,670 | 4,732,290 | 99.3% | – |
| Thomas A. McEachin | 73,847,609 | 518,921 | 137,204 | 4,732,290 | 99.3% | – |
| Anthony P. Nader, III | 73,114,640 | 1,355,107 | 33,988 | 4,732,290 | 98.2% | – |
| Gail P. Steinel | 71,813,143 | 2,650,770 | 39,822 | 4,732,290 | 96.4% | – |
| Donald C. Wood | 74,072,646 | 392,526 | 38,563 | 4,732,290 | 99.5% | – |
| Proposal 2: Advisory vote on the compensation of our named executive officers | 69,554,400 | 4,840,747 | 108,588 | 4,732,290 | 93.5% | – |
| Proposal 3: Ratification of the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026 | 76,052,276 | 3,149,125 | 34,624 | 0 | 96.0% | – |
Counts as the company reports them in its 8-K. A result shows when the filing states one. Meetings since 2023.
Dividends and buybacks
Dividend per share, the cash paid and the shares bought back, each fiscal year.
| FY2025 | $4.46 | – | – |
| FY2024 | $4.38 | – | – |
| FY2023 | $4.34 | – | – |
| FY2022 | $4.30 | – | – |
| FY2021 | $4.26 | – | – |
| FY2020 | $4.22 | – | – |
| FY2019 | $4.14 | – | – |
| FY2018 | $4.04 | – | – |
| FY2017 | $3.96 | – | – |
| FY2016 | $3.84 | – | – |
Peers
Companies in the same industry, largest first, on the same measures.
| Company | Market value | Revenue, 12 months | Revenue growth | Operating margin | Net margin | ROE | P/E | EV/EBITDA |
|---|---|---|---|---|---|---|---|---|
| Federal Realty Investment Trustthis company | $9.4B | $1.3B | 8.0% | 47.9% | 32.7% | 13.0% | 22.0× | 13.7× |
| Welltower Inc. | $170.6B | $12.8B | 37.6% | -2.4% | 12.1% | 3.3% | 108.8× | 86.5× |
| Prologis, Inc. | $117.9B | $9.2B | 7.3% | 54.7% | 45.8% | 7.8% | 28.1× | 19.6× |
| Equinix Inc. | $94.2B | $9.8B | 9.6% | 21.8% | 15.6% | 10.7% | 61.5× | 26.3× |
| American Tower Corp. | $88.0B | $10.9B | 6.6% | 44.8% | 31.1% | 91.4% | 26.0× | 17.7× |
| Simon Property Group Inc. | $68.6B | $6.9B | 15.0% | 47.4% | 66.5% | 104.1% | 14.9× | 19.4× |
| Digital Realty Trust, Inc. | $63.8B | $6.8B | 17.4% | 14.6% | 11.8% | 2.9% | 83.7× | 27.0× |
| Public Storage | $54.5B | $4.9B | 3.0% | 39.0% | 41.8% | 22.2% | 29.6× | 20.9× |
| Realty Income Corp. | $53.8B | $6.1B | 10.9% | 20.1% | 20.9% | 3.2% | 41.5× | 22.3× |
| Ventas, Inc. | $44.5B | $6.4B | 21.5% | 3.3% | 4.1% | 1.8% | 160.7× | 33.3× |
| Crown Castle Inc. | $36.6B | – | – | – | – | – | – | – |
What the company does
Federal Realty owns, manages and redevelops retail and mixed-use property, concentrated in major coastal markets and selected underserved markets that it describes as having strong economic and demographic fundamentals. It was founded in 1962 as a REIT under District of Columbia law, re-formed in Maryland in 1999, and reorganised into an UPREIT structure in January 2022, with its operations and assets held through Federal Realty OP LP.
The portfolio
At the end of 2025 it owned or held a majority interest in community and neighbourhood shopping centres and mixed-use properties operated as 104 predominantly retail real estate projects, comprising about 28.8 million commercial square feet. The projects were 96.1 percent leased and 94.1 percent occupied. Revenue comes primarily from lease agreements with tenants.
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