Federal Realty Investment Trust: Q1 Earnings Snapshot

NORTH BETHESDA, Md. (AP) — NORTH BETHESDA, Md. (AP) — Federal Realty Investment Trust (FRT) on Thursday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.

The real estate investment trust, based in North Bethesda, Maryland, said it had funds from operations of $130.3 million, or $1.59 per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $1.57 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $53.3 million, or 65 cents per share.

The real estate investment trust, based in North Bethesda, Maryland, posted revenue of $273.1 million in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $276.8 million.

Federal Realty Investment Trust expects full-year funds from operations in the range of $6.38 to $6.58 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRT at https://www.zacks.com/ap/FRT

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