A fixed rule set over this filing's XBRL figures and the number of high-severity risks found in it — no model judgement.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
In 2026-Q2, Federal Realty Investment Trust achieved a 7.8% YoY increase in total property revenue to $335.7 million, though net income attributable to the Trust fell 45.0% YoY to $85.7 million primarily due to lower real estate disposition gains.
FRT posted solid revenue growth of 7.8% YoY to $335.7M in 2026-Q2 supported by 96.1% leased occupancy and a 15% cash leasing spread.
Last 4 quarters: 3 beats, 1 miss
Reported EPS of $1.88 versus the $0.72 analyst consensus — a +161.5% beat for Jun 2026.
Total property revenue reached $335.7 million in 2026-Q2, up 7.8% YoY from $311.5 million. Growth was driven by a $20.6 million contribution from property acquisitions and a $7.7 million increase from comparable properties.
Source: 10-Q Item 2 MD&A, p.26-27
FRT signed 819,000 square feet of comparable space leases in 2026-Q2, generating an average cash rental rate increase of 15% (34% on new leases and 5% on renewals). Total portfolio leased occupancy stood at 96.1% with physical occupancy at 93.8%.
Source: 10-Q Item 2 MD&A, p.24-25
During the six months ended June 30, 2026, FRT acquired properties including Congressional North Shopping Center ($72.3 million) and a Kingstowne Towne Center asset ($19.7 million), while selling assets for $224.6 million, generating $112.8 million in net gain on sale.
Source: 10-Q Item 2 MD&A, p.23
In April 2026, FRT amended its revolving credit facility, increasing capacity from $1.25 billion to $1.4 billion and extending maturity to April 2030. In February 2026, the Trust repaid $400.0 million of 1.25% Senior Notes at par.
Source: 10-Q Item 2 MD&A, p.23
Macroeconomic instability, inflation, or tenant financial distress could cause tenants to delay rent payments, file for bankruptcy, or vacate early, reducing portfolio occupancy and net rental revenues.
Source: 10-Q Item 2 MD&A, p.21-22
FRT has active redevelopment projects with projected costs of approximately $321 million. Cost inflation, supply chain bottlenecks, tariffs, and permitting delays could lengthen completion timelines and increase overall capital expenditures.
Source: 10-Q Item 2 MD&A, p.24
Elevated market interest rates increase borrowing expenses on variable debt and prospective debt issuances, potentially limiting growth from new property acquisitions and development projects.
Source: 10-Q Item 2 MD&A, p.21, 24
This analysis does not extract a guidance section. Companies issue revenue and EPS outlook in the 8-K press release and on the earnings call rather than in the 10-Q itself — though the filing's management discussion can contain forward-looking statements, which appear in the highlights above where they were material.
Federal Realty Investment Trust (FRT) is next expected to report on , when the following quarter's results and any updated outlook will be available.
See the FRT earnings preview — expected date, analyst estimates and what to watch →
FRT reported a 7.8% YoY increase in total property revenue to $335.7 million and an 8.9% increase in Property Operating Income to $232.1 million. Net income attributable to the Trust fell 45.0% YoY to $85.7 million, largely due to $20.6 million in real estate sale gains in 2026-Q2 versus $76.5 million in 2025-Q2.
FRT's property revenue grew by $24.2 million or 7.8% YoY to $335.7 million in 2026-Q2. Growth was led by $20.6 million from recent acquisitions and $7.7 million from comparable properties due to higher rental rates and lease termination fees.
FRT highlighted macroeconomic risks including persistent inflation, high interest rates, and trade tariffs that could affect tenant rent payments. Additionally, management cited supply chain costs impacting its $321 million redevelopment projects.
Federal Realty Investment Trust (FRT) is next expected to report earnings on Oct 30, 2026. The date comes from the analyst earnings calendar and can shift until the company confirms it.
Expected release date, analyst estimates & what to watch
FRT delivered a strong Q1 FY2026 with revenue up 10.3% YoY to $341.1M and net income surging 149.5% to $159.1M, driven by a dramatic expansion in operating margin to 61.3%.
Federal Realty Investment Trust (FRT) delivered strong FY2024 results with revenue up 6.4% to $1.28B, operating income surging 27.5% to $602M, and net income jumping 39.2% to $411M, reflecting robust operational performance across its retail-focused REIT portfolio.
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