Company: FRT-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000034903-25-000063
Chunk: 77

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 2
Chunk 77
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 was moved from non-comparable properties to comparable properties and one property was moved from acquisitions to comparable properties; all compared to the designations as of December 31, 2024. For the nine months ended September 30, 2025, one property was moved from comparable properties to non-comparable properties, and one property and one portion of two properties were removed from comparable properties, as they were sold; all compared to the designations as of December 31, 2024. While there is judgment surrounding changes in designations, we typically move non-comparable properties to comparable properties once they have stabilized, which is typically considered 90% physical occupancy or when the growth expected from the redevelopment has been included in the comparable periods. We typically remove properties from comparable properties when the repositioning of the asset has commenced and has or is expected to have a significant impact on property operating income within the calendar year. Acquisitions are moved to comparable properties once we have owned the property for the entirety of comparable periods and the property is not under development or being repositioned for significant redevelopment and investment. 

RESULTS OF OPERATIONS - THREE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024 

   Change 20252024Dollars% (Dollar amounts in thousands)Rental income$313,183 $295,119 $18,064 6.1 %Other property income8,789 8,233 556 6.8 %Mortgage interest income281 281 — — %Total property revenue322,253 303,633 18,620 6.1 %Rental expenses67,481 63,898 3,583 5.6 %Real estate taxes38,178 36,053 2,125 5.9 %Total property expenses105,659 99,951 5,708 5.7 %Property operating income (1)216,594 203,682 12,912 6.3 %General and administrative expense(11,649)(10,822)(827)7.6 %Depreciation and amortization(94,277)(87,028)(7,249)8.3 %Operating income110,668 105,832 4,836 4.6 %Other interest income845 978 (133)(13.6)%Interest expense(47,619)(44,237)(