Company: FRT-PC
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000034903-25-000037
Chunk: 27

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 27
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 DENOMINATORWeighted average common shares outstanding, basic and diluted85,472 82,605 EARNINGS PER COMMON SHARE, BASIC AND DILUTED:Net income available for common shareholders$0.72 $0.66 Federal Realty OP LP Earnings per UnitThree Months EndedMarch 31, 20252024 (In thousands, except per unit data)NUMERATORNet income$66,578 $58,016 Less: Preferred unit distributions(2,008)(2,008)Less: Income from operations attributable to noncontrolling interests(2,810)(1,280)Less: Earnings allocated to unvested units(321)(333)Net income available for common unit holders, basic and diluted$61,439 $54,395 DENOMINATORWeighted average common units outstanding, basic and diluted85,472 82,605 EARNINGS PER COMMON UNIT, BASIC AND DILUTED:Net income available for common unit holders$0.72 $0.66 

NOTE 10—SUBSEQUENT EVENT

On April 10, 2025, we announced that our Board of Trustees had approved a new common share repurchase program, under which we may purchase up to $300.0 million of our outstanding common shares of beneficial interest, $0.01 par value per share from time to time using a variety of methods, including open market, privately negotiated transactions or otherwise. The specific timing and amount of common share repurchases, if any, will depend on a number of factors, including prevailing share prices, trading volume and general market conditions, along with our working capital requirements, cash flow, and other factors. The program does not require us to repurchase any dollar amount or number of common shares and may be suspended or discontinued at any time. As of May 8, 2025, no common shares have been repurchased through the program.

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Table of Contents

ITEM 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Forward-Looking Statements

The following discussion should be read in conjunction with the consolidated interim financial statements and notes thereto appearing in Item 1 of this report and the more detailed information contained in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission (the “SEC”) on February 13, 2025.