Company: FRT-PC
Filing Date: 2025-02-14
Form Type: 424B5
Source: 0001193125-25-026560
Chunk: 5

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-02-14
Form: 424B5
Chunk 5
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 imposed on our operations by those covenants, and the possibility of increases in interest rates that would result in increased interest expense; |

| • |     | risks related to the Company’s status as a real estate investment trust, commonly referred to as a REIT, for                                                                                                                                    
 federal income tax purposes, such as the existence of complex tax regulations relating to the Company’s status as a REIT, the effect of future changes in REIT requirements as a result of new legislation, and the adverse consequences of the 
 failure to qualify as a REIT; and                                                                                                                                                                                                               |

| • |     | risks related to natural disasters, climate change and public health crises (such as worldwide                                                                                                                                                    
 pandemics), and the measures that international, federal, state and local governments, agencies, law enforcement and/or health authorities implement to address them, may precipitate or materially exacerbate one or more of the above-mentioned 
 risks, and may significantly disrupt or prevent us from operating our business in the ordinary course for an extended period.                                                                                                                     |

Given these uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements or those contained in or incorporated by reference in this prospectus supplement and the accompanying prospectus. We also make no promise to update any of the forward-looking statements, or to publicly release the results if we revise any of them. S-iii

PROSPECTUS SUPPLEMENT SUMMARY The following is only a summary. It should be read together with the more detailed information included elsewhere in this prospectus supplement and the accompanying prospectus. In addition, important information is incorporated by reference into this prospectus supplement and the accompanying prospectus. See “Where You Can Find More Information” in the accompanying prospectus. The Trust Federal Realty Investment Trust, which we refer to as the Company, is an equity real estate investment trust, or REIT, specializing in the ownership, management, and redevelopment of high quality retail and mixed-use propertieslocated primarily in communities where we believe retail demand exceeds supply, in strategically selected metropolitan markets in the Mid-Atlantic andNortheast regions of the United States, California, and South Florida. The Company conducts substantially all of its operations and owns substantially all of its assets through Federal Realty OP LP, which we refer to as the Partnership. The Company owns 100% of the limited liability company interests of, is the sole member of and exercises exclusive control over Federal Realty GP LLC, which is the sole general partner of the Partnership. The Company does not have substantial assets or liabilities other than through its investment in