Company: FRT-PC
Filing Date: 2025-02-14
Form Type: 424B5
Source: 0001193125-25-026560
Chunk: 8

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-02-14
Form: 424B5
Chunk 8
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 herein. The risks and uncertainties we have described are those we believe to be the principal risks that could affect us, our business or our industry, and which could result in a material adverse impact on our financial condition, results of operation, prospects or the market price of our common shares. However, additional risks and uncertainties not currently known to us or that we currently deem immaterial may affect our business operations and the market price of our common shares.

You may experience significant dilution as a result of this offering and any additional issuances of our securities, including common shares, which could harm the market price of our common shares.

Our declaration of trust permits our board of trustees to authorize, without shareholder
approval, the issuance of additional common or preferred shares or securities convertible or exchangeable into equity securities. We may, from time to time and at any time, seek to offer and sell additional common or preferred shares or other
securities, including sales of common shares in this offering to or through the Agents or through a forward sale agreement, based on market conditions and other factors that may be beyond our control.

Sales of our common shares pursuant to a forward sale agreement may have a dilutive effect on our earnings per share and funds from operations
per share after giving effect to the issuance of our common shares and the application of the expected net proceeds. The actual amount of dilution from this offering, from sales pursuant to a forward sale agreement or from any future offering of
common or preferred shares will be based on numerous factors, particularly the use of proceeds and the return generated by such investment, and cannot be determined at this time. The market price of our common shares could decline as a result of
sales of a large number of our common shares in the market pursuant to this offering, a forward sale agreement, or otherwise, or as a result of the perception or expectation that such sales could occur.

Holders of our debt or preferred shares have liquidation and other rights that are senior to the rights of the holders of our common shares, and any future incurrence of debt or issuance of preferred shares could adversely affect the market price of our common shares.

As of
December 31, 2024, we had approximately $4.5 billion of debt outstanding, 392,878 of our 5.417% Series 1 Cumulative Convertible Preferred Shares, or the Series 1 Preferred Shares, with an aggregate liquidation preference of
$10 million, were issued and outstanding, and 6,000 of our 5.000