WASHINGTON (dpa-AFX) - Friday, Federal Realty Investment Trust (FRT) announced financial results for the second quarter, reporting lower net income primarily driven by a lower gain on the sale of real estate compared to the prior year period, as well as the absence of a one-time tax credit benefit recognized in the second quarter of 2025.
Net income available for common shareholders was $83.7 million, or $0.97 per share, compared to $153.9 million, or $1.78 per share, in the previous year.
Nareit FFO was $162.8 million, or $1.88 per share, compared to $165.5 million, or $1.91 per share, in 2025.
Core FFO for the quarter was $162.8 million, or $1.88 per share, versus $152.5 million, or $1.76 per share, in the prior year.
Total revenue increased to $335.7 million from last year's $311.5 million.
Concurrently, the company raised its financial outlook for full-year 2026. It now expects a net income of $4.22 to $4.30 per share, instead of the previously estimated $3.94 to $4.03 per share.
The company also raised its Nareit FFO outlook to $7.48 to $7.56 per share, from the previously announced $7.46 to $7.55 per share, and Core FFO guidance to $7.48 to $7.56 per share, from $7.46 to $7.55 per share.
In the pre-market hours, FRT is trading at $124.67, up 0.40 percent on the NYSE.
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