FRT Earnings Prediction
The chart below shows how FRT performed 10 days before and after its earnings report, based on data from the past quarters. Typically, FRT sees a -2.70% change in stock price 10 days leading up to the earnings, and a -0.72% change 10 days following the report. On the earnings day itself, the stock moves by +0.60%. This data can give you a slight idea of what to expect for the next quarter's release.
FRT Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
311.44M
6.73%
2.57%
Gross Margin
39.29%
0.85%
2.26%
Operating Margin
34.54%
0.20%
-0.92%
Net Margin
21.90%
-4.74%
4.78%
EPS
0.75
-1.32%
7.14%
No Data Available
FRT Earnings Analysis
Federal Realty Investment Trust Corporation (FRT.N) Earnings Conference Call
Positive
Record Leasing Activity: A record 100 comparable deals were completed in Q4 for 649,000 square feet, achieving 10% more cash rent and 21% more straight-line rent than previous leases, contributing to nearly 2.4 million square feet leased in 2024 with similar increases in rent.
Record Occupancy Levels: Occupancy rates reached 96.2% on a leased basis and 94.1% on an occupied basis at year-end, marking the strongest occupancy levels in nearly a decade.
Strong Revenue Performance: Total revenues exceeded $300 million in Q4 and $1.2 billion for the year, reflecting a 76% growth over the prior periods, showcasing robust financial performance.
Record FFO Growth: Funds from Operations (FFO) per share reached $1.73 for Q4 and $6.77 for the year, setting all-time records, with a growth of approximately 8% when excluding a one-time charge.
Dividend Increase Commitment: Dividends per share were raised to $4.40, marking the 57th consecutive year of dividend increases, demonstrating a strong commitment to returning value to shareholders.
Negative
Operating Expenses Impact Profitability: Operating expenses increased due to upward pressure on property level expense margins and higher interest expense relative to 2023, impacting overall profitability.
FFO Decline Forecast: The first quarter of 2025 is expected to see a sequential drop in FFO, with guidance indicating a range of $167 million to $170 million, down approximately 2.5% from the fourth quarter of 2024.
Santana West Project Impact: A net drag of approximately $0.1 to $0.11 is anticipated from the Santana West project in 2025 due to the cessation of capitalized interest, delaying revenue recognition until 2026.
Credit Reserve Guidance: The guidance for 2025 includes a total credit reserve of roughly 75 to 100 basis points, reflecting a cautious approach to potential tenant bankruptcies amid economic volatility.
Occupancy Rate Decline: The anticipated occupancy drop to the mid to upper 93% range in the first quarter of 2025 is expected due to typical seasonal tenant move-outs, which could negatively impact revenue.
FRT FAQs
How does FRT typically perform around its earnings report dates?
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FRT Earning Call Sentiment
Earnings call transcript: Federal Realty Q4 2024 beats EPS forecast
FRT.N
1.54%Positive
The company reported strong financial results with a 76% revenue increase and raised dividends for the 57th year. Despite economic volatility and competition, leasing and occupancy rates are high, and the FFO guidance was raised. Although construction cost uncertainties pose risks, the company's liquidity and strategic market expansion efforts are reassuring. The Q&A session revealed confidence in credit quality and strategic acquisitions, suggesting a positive outlook. However, the lack of a share buyback program and competition concerns slightly temper the enthusiasm, resulting in an overall positive sentiment.
