Federal Realty Inv. Trust (FRT) Tops Q1 EPS by 3c, Revenues Miss; Offers FY19 EPS Guidance Above Consensus

Federal Realty Inv. Trust (NYSE: FRT) reported Q1 EPS of $0.78, $0.03 better than the analyst estimate of $0.75. Revenue for the quarter came in at $232.23 million versus the consensus estimate of $234.59 million.

Highlights of the quarter include:

• Generated funds from operations available for common shareholders (FFO) per diluted share of $1.56 for the quarter compared to $1.52 in first quarter 2018.
• Generated comparable property operating income (POI) growth of 3.5% for the first quarter.
• Signed leases for 247,331 sf of comparable space in the first quarter at an average rent of $45.07 psf and achieved cash basis rollover growth on those comparable spaces of 10%.
• Announced the launch of Phase I at Santana West, a 360,000 square foot office building across Winchester Boulevard from Santana Row.
• Maintained our 2019 FFO per diluted share guidance range to $6.30 - $6.46.

"We're pleased with our first quarter results," said Donald C. Wood, President and Chief Executive Officer. "We continue to execute on our multifaceted business plan with the goal of driving long term real estate value. Our best-in-class located properties are our greatest assets as we navigate the changing retail environment."

GUIDANCE:

Federal Realty Inv. Trust sees FY2019 EPS of $3.14-$3.30, versus the consensus of $3.02.

For earnings history and earnings-related data on Federal Realty Inv. Trust (FRT) click here.

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