Company: FRT-PC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000034903-25-000037
Chunk: 66

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 66
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 intend to operate with and to maintain our long term commitment to a conservative capital structure that will allow us to maintain strong debt service coverage and fixed-charge coverage ratios as part of our commitment to investment-grade debt ratings.

Summary of Cash Flows

 Three Months Ended March 31, 20252024Change (In thousands)Net cash provided by operating activities$179,044 $141,160 $37,884 Net cash used in investing activities(181,766)(66,942)(114,824)Net cash used in financing activities(10,018)(229,401)219,383 Decrease in cash, cash equivalents and restricted cash(12,740)(155,183)142,443 Cash, cash equivalents, and restricted cash at beginning of year135,443 260,004 (124,561)Cash, cash equivalents, and restricted cash at end of period$122,703 $104,821 $17,882 

Net cash provided by operating activities increased $37.9 million to $179.0 million during the three months ended March 31, 2025 from $141.2 million during the three months ended March 31, 2024. The increase was primarily due to higher collections related to year end recovery billings, timing of cash receipts related to prepaid rent, and higher net income after adjusting for non-cash items and gain on sale of real estate.

Net cash used in investing activities increased $114.8 million to $181.8 million during the three months ended March 31, 2025 from $66.9 million during the three months ended March 31, 2024. The increase was primarily attributable to:

•a $120.4 million increase in acquisition of real estate due to the February 2025 acquisition of the fee interest in Del Monte Shopping Center (see Note 3 to the consolidated financial statements for additional information),

partially offset by

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•a $4.7 million decrease in capital expenditures.

Net cash used in financing activities decreased $219.4 million to $10.0 million during the three months ended March 31, 2025 from $229.4 million during the three months ended March 31, 2024. The decrease was primarily attributable to:

•$600.0 million from the January 2024 repayment of our $600.0 million 3.95% senior unsecured notes at maturity,

•a $48.