Company: FRT-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000034903-25-000063
Chunk: 55

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 55
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5, we've acquired three properties for $599.5 million, and continue to evaluate additional opportunities.

We believe cash flow from operations, the cash on our balance sheet, and our $1.25 billion revolving credit facility will allow us to continue to operate our business in the short-term. Given our ability to access the capital markets, we also expect debt or equity financing to be available to us, although newly issued debt would likely be at higher interest rates than the debt we are refinancing. We also have the ability to delay the timing of certain development and redevelopment projects as well as limit future acquisitions, reduce our operating expenditures, or re-evaluate our dividend policy. We expect these sources of liquidity and opportunities for operating flexibility to allow us to meet our financial obligations over the long term. We 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

 Nine Months Ended September 30, 20252024Change (In thousands)Net cash provided by operating activities$477,531 $454,968 $22,563 Net cash used in investing activities(473,509)(375,452)(98,057)Net cash used in financing activities(11,781)(233,914)222,133 Decrease in cash, cash equivalents and restricted cash(7,759)(154,398)146,639 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$127,684 $105,606 $22,078 

Net cash provided by operating activities increased $22.6 million to $477.5 million during the nine months ended September 30, 2025 from $455.0 million during the nine months ended September 30, 2024. The increase was primarily due to higher net income after adjusting for non-cash items and gain on sale of real estate.

Net cash used in investing activities increased $98.1 million to $473.5 million during the nine months ended September 30, 2025 from $375.5 million during the nine months ended September 30, 2024. The increase was primarily attributable to:

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•a $126.5 million increase in acquisition of real estate primarily