Federal Realty Investment Trust (FRT) 10-K Summary — Year Ended Dec 31, 2023
Federal Realty Investment Trust filed its annual report for the most recent fiscal year. The filing details the company's business as a real estate investment trust, its financial performance, and capital management activities.
Key takeaway
Year ended Dec 31, 2023 · FY2024 10-K
Federal Realty Investment Trust filed its annual report for the most recent fiscal year. The filing details the company's business as a real estate investment trust, its financial performance, and capital management activities.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$1.1B
Revenue reported for the fiscal year.
Operating income
$406.5M
Income from operations reported for the year.
Net income
$237M
Net income reported for the year.
Operating cash flow
$555.8M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $951.2M | n/a |
| Dec 31, 2022 | $1.1B | +12.9% |
| Dec 31, 2023 | $1.1B | +5.4% |
Business overview
Federal Realty Investment Trust is a real estate investment trust that generates cash from operations, which is largely distributed to shareholders as dividends. The company also funds capital projects such as tenant improvements and redevelopments. It maintains a revolving credit facility and accesses debt and equity markets for long-term capital.
Financial performance
Revenue for the reported period increased compared to the prior year. Operating income, net income, and operating cash flow were reported at levels reflecting the company's ongoing operations. The company's financial metrics indicate stable performance.
Material risks
The filing references risk factors but does not provide specific details in the supplied context. Therefore, no material risks can be identified from the available information. Readers should refer to the full filing for a complete list of risk factors.
Liquidity and capital
The company funds its operations and capital projects through cash flow from operations, a revolving credit facility, debt issuances, and equity sales. It has also repaid maturing debt and extended maturities to manage its capital structure.
What to watch
Readers should monitor the company's debt maturity schedule and any refinancing activities in the next filing.