REIT boardRanked among REITs, not on the main board. A REIT's earnings are dominated by depreciation on assets that typically appreciate, so net margin and return on assets understate it against an operating company.
AI-extracted from the 10-Q filed 2026-07-31 — Q2 2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Total property revenue rose 7.8% to $335.7 million and Core FFO reached $1.88 per diluted share, but net income fell 44.6% to $88.6 million on smaller property-sale gains.
Biggest Revenue Drivers
Rental income$325.9M+7.7% YoY
Property revenue growth driven by $20.6 million from acquisitions, $7.7 million from comparable properties, and $5.6 million from non-comparable properties, offset by $9.7 million from dispositions.
Other property income$9.8M+11.7% YoY
Includes Pike & Rose hotel revenue, parking income and other incidental property income; comparable parking income rose $1.1 million.
Biggest Revenue Drivers
Total revenue: $335.7M+7.8% YoY
Rental income$325.9M+7.7% YoY
Property revenue growth driven by $20.6 million from acquisitions, $7.7 million from comparable properties, and $5.6 million from non-comparable properties, offset by $9.7 million from dispositions.
Other property income$9.8M+11.7% YoY
Includes Pike & Rose hotel revenue, parking income and other incidental property income; comparable parking income rose $1.1 million.
Mortgage interest income$13K-95.3% YoY
Largest Expense Items
Depreciation and amortization$100.6M+12.8% YoY
Due primarily to acquisitions, openings at Santana West, and investment in comparable properties, partially offset by property dispositions.
Rental expenses$64.5M+4.7% YoY
Acquisitions added $2.9 million; non-comparable properties $1.6 million from Pike & Rose Phase IV and Santana West openings; dispositions reduced $2.5 million.
Interest expense$50.0M+12.1% YoY
$3.3 million from higher weighted average borrowings, $1.8 million from a higher weighted average borrowing rate, and $0.3 million less capitalized interest.
Real estate taxes$39.1M+6.5% YoY
Acquisitions added $2.4 million and comparable properties $1.2 million on higher assessments, offset by $1.3 million from dispositions.
Margins: Rental expenses as a percentage of rental income fell to 19.8% from 20.4%, and property operating income rose 8.9% to $232.1 million on acquisitions, new openings, higher rents and occupancy.
Watch Items from the Filing
Net income fell 44.6% to $88.6 million as gains on sale dropped to $20.6 million from $76.5 million and prior-year $14.2 million new market tax credit income did not recur.
Excluding $21.2 million repaid after quarter-end, $829.3 million of debt matures through July 2027, including the $200.0 million Bethesda Row mortgage (one-year extension option).
$1.1 billion of variable rate debt outstanding; a 1.0% rise in market rates would increase annual interest expense by approximately $10.9 million.
Signed 819,000 square feet of comparable-space leases at a 15% average cash rent increase (new leases +34%); portfolio 96.1% leased versus 93.8% occupied.
Core FFO per diluted share rose to $1.88 from $1.76; liquidity includes $107.2 million cash, $1.4 billion revolver with $286.2 million drawn, and $688.9 million ATM capacity.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About FEDERAL REALTY INVESTMENT TRUST (FRT): stock profile, AI score and financials
FEDERAL REALTY INVESTMENT TRUST (FRT) stock profile, AI quality score, and SEC EDGAR financial data, a Real Estate sector company. 13F Pro's AI-powered ranking engine scores FRT at 68.3/100 on a composite quality score built from its SEC filings, placing it at rank #17 of 148 stocks — the top 25% of the AI-ranked universe. Based on the latest XBRL financial filings (Q2 2026), FEDERAL REALTY INVESTMENT TRUST reports quarterly revenue of $335.7M, net income of $85.7M, an operating margin of 41.3%. Top institutional holders of FRT by reported 13-F value include BlackRock, VANGUARD PORTFOLIO MANAGEMENT, STATE STREET, based on the most recent SEC filings. FRT trades on the NYSE exchange and files with the SEC under CIK 34903. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FRT daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for FEDERAL REALTY INVESTMENT TRUST directly from SEC EDGAR.