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Consolidated Statements Of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
REVENUE      
Rental income $ 1,131,041 $ 1,073,292 $ 948,842
Mortgage interest income 1,113 1,086 2,382
Total revenue 1,132,154 1,074,378 951,224
EXPENSES      
Rental expenses 231,666 228,958 198,121
Real estate taxes 131,429 127,824 118,496
General and administrative 50,707 52,636 49,856
Depreciation and amortization 321,763 302,409 279,976
Total operating expenses 735,565 711,827 646,449
Gain on deconsolidation of VIE 0 70,374 0
Gain on sale of real estate and change in control of interest 9,881 93,483 89,950
OPERATING INCOME 406,470 526,408 394,725
OTHER INCOME/(EXPENSE)      
Other interest income 4,687 1,072 809
Interest expense (167,809) (136,989) (127,698)
Income from partnerships 3,869 5,170 1,245
NET INCOME 247,217 395,661 269,081
Net income attributable to noncontrolling interests (10,232) (10,170) (7,583)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 236,985 385,491 261,498
Dividends on preferred shares (8,032) (8,034) (8,042)
NET INCOME AVAILABLE FOR COMMON SHAREHOLDERS $ 228,953 $ 377,457 $ 253,456
EARNINGS PER COMMON SHARE, BASIC      
Net income available for common shareholders $ 2.80 $ 4.71 $ 3.26
Weighted average number of common shares 81,313 79,854 77,336
EARNINGS PER COMMON SHARE, DILUTED      
Net income available for common shareholders $ 2.80 $ 4.71 $ 3.26
Weighted average number of common shares 81,313 80,508 77,368
COMPREHENSIVE INCOME      
NET INCOME $ 247,217 $ 395,661 $ 269,081
Other comprehensive (loss) income - change in value of interest rate swaps (1,824) 8,569 3,917
COMPREHENSIVE INCOME 245,393 404,230 272,998
Comprehensive income attributable to noncontrolling interests (10,113) (10,935) (7,903)
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 235,280 393,295 265,095
Federal Realty OP LP      
REVENUE      
Rental income 1,131,041 1,073,292 948,842
Mortgage interest income 1,113 1,086 2,382
Total revenue 1,132,154 1,074,378 951,224
EXPENSES      
Rental expenses 231,666 228,958 198,121
Real estate taxes 131,429 127,824 118,496
General and administrative 50,707 52,636 49,856
Depreciation and amortization 321,763 302,409 279,976
Total operating expenses 735,565 711,827 646,449
Gain on deconsolidation of VIE 0 70,374 0
Gain on sale of real estate and change in control of interest 9,881 93,483 89,950
OPERATING INCOME 406,470 526,408 394,725
OTHER INCOME/(EXPENSE)      
Other interest income 4,687 1,072 809
Interest expense (167,809) (136,989) (127,698)
Income from partnerships 3,869 5,170 1,245
NET INCOME 247,217 395,661 269,081
Net income attributable to noncontrolling interests (10,232) (10,170) (7,583)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 236,985 385,491 261,498
Distributions declared to preferred unit holders (8,032) (8,034) (8,042)
NET INCOME AVAILABLE FOR COMMON UNIT HOLDERS $ 228,953 $ 377,457 $ 253,456
EARNINGS PER COMMON UNIT, BASIC      
Net income available for common unit holders $ 2.80 $ 4.71 $ 3.26
Weighted average common units outstanding, basic 81,313 79,854 77,336
EARNINGS PER COMMON UNIT, DILUTED      
Net income available for common unit holders, diluted $ 2.80 $ 4.71 $ 3.26
Weighted average common units outstanding, diluted 81,313 80,508 77,368
COMPREHENSIVE INCOME      
NET INCOME $ 247,217 $ 395,661 $ 269,081
Other comprehensive (loss) income - change in value of interest rate swaps (1,824) 8,569 3,917
COMPREHENSIVE INCOME 245,393 404,230 272,998
Comprehensive income attributable to noncontrolling interests (10,113) (10,935) (7,903)
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP $ 235,280 $ 393,295 $ 265,095