Q1 25 EPS
$0.72
BEAT +1.45%
Est. $0.71
Q1 25 Revenue
$309.2M
BEAT +0.52%
Est. $307.5M
vs S&P Since Q1 25
+7.8%
BEATING MARKET
FRT +37.0% vs S&P +29.2%
Market Reaction
Did FRT Beat Earnings? Q1 2025 Results
Federal Realty Investment Trust posted a steady first-quarter 2025 beat, reporting earnings per diluted share of $0.72 against the $0.71 consensus estimate, while revenue climbed 6.1% year-over-year to $309.15 million, lifted primarily by stronger re… Read more Federal Realty Investment Trust posted a steady first-quarter 2025 beat, reporting earnings per diluted share of $0.72 against the $0.71 consensus estimate, while revenue climbed 6.1% year-over-year to $309.15 million, lifted primarily by stronger rental income as commercial minimum rents grew to $203.12 million from $192.94 million a year ago. The occupancy story was equally encouraging, with comparable portfolio occupancy rising 180 basis points year-over-year to 93.6% and small shop leased rates reaching 93.5%, up 210 basis points, reflecting durable tenant demand at the company's affluent-market properties. Federal Realty also closed its $123.50 million acquisition of the 675,000-square-foot Del Monte Shopping Center in Monterey, California, adding anchor tenants including Whole Foods, Macy's, and Apple to its portfolio. Analysts currently hold a moderate buy consensus on the shares, with average price targets implying meaningful upside from current levels. Looking ahead, management nudged its 2025 FFO per diluted share guidance to $7.11 to $7.23, representing approximately 6% growth at the midpoint, while maintaining GAAP EPS guidance of $3.00 to $3.12.
Key Takeaways
- • Comparable property POI growth of 2.8% excluding lease termination fees and prior period rents
- • Comparable portfolio occupancy increased 180 basis points year-over-year to 93.6%
- • Small shop leased rate increased 210 basis points year-over-year to 93.5%
- • Cash basis lease rollover growth of 6% and 17% on a straight-line basis
- • Elevated foot traffic across properties
- • Commercial minimum rents grew to $203.1 million from $192.9 million year-over-year
FRT YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
FRT Revenue by Segment
With YoY comparisons, source: SEC Filings
“We started the year with strong operating results and are encouraged to see continuing elevated foot traffic across our properties. Decades of experience have taught us how to insulate our portfolio against economic cycles and disruptive forces. With irreplaceable real estate and a high-quality, diverse tenant base in affluent markets, we are well positioned for continued growth and stability.”
— Donald C. Wood, Q1 2025 Earnings Press Release
FRT Earnings Trends
FRT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
FRT EPS Trend
Earnings per share: estimate vs actual
FRT Revenue Trend
Quarterly revenue: estimate vs actual
FRT Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.68 | $1.81 | +165.20% | $341.1M | +2.39% |
| Q4 25 BEAT FY | $0.76 | $1.48 | +94.10% | $336.0M | +2.13% |
| FY Full Year | — | $4.68 | — | $1.28B | — |
| Q3 25 MISS | $0.78 | $0.69 | -11.30% | $322.3M | +2.22% |
| Q2 25 BEAT | $0.76 | $1.78 | +134.86% | $311.5M | +1.29% |
| Q1 25 BEAT | $0.71 | $0.72 | +1.45% | $309.2M | +0.52% |