Earnings Per Share And Unit (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of earnings per share and unit

The following potentially issuable shares were excluded from the diluted EPS and EPU calculations because their impact is anti-dilutive:

•exercise of 3,019 and 1,829 stock options for the three months ended March 31, 2024 and 2023, respectively,

•conversions of downREIT operating partnership units for both the three months ended March 31, 2024 and 2023,

•conversions of 5.417% Series 1 Cumulative Convertible Preferred Shares and units for both the three months ended March 31, 2024 and 2023, and

•exchange of common shares and units related to the 3.25% Exchangeable Senior Notes due 2029 for the three months ended March 31, 2024.

Additionally, 10,441 unvested restricted stock units are excluded from the diluted EPS and EPU calculations as the market based performance criteria in the awards has not yet been achieved.

Federal Realty Investment Trust Earnings per Share

		Three Months Ended
		March 31,
		2024		2023
	(In thousands, except per share data)
NUMERATOR
Net income		$	58,016	$	57,731
Less: Preferred share dividends		(2,008)		(2,008)
Less: Income from operations attributable to noncontrolling interests		(1,280)		(2,396)
Less: Earnings allocated to unvested shares		(333)		(327)
Net income available for common shareholders, basic and diluted		$	54,395	$	53,000
DENOMINATOR
Weighted average common shares outstanding, basic and diluted		82,605		81,141
EARNINGS PER COMMON SHARE, BASIC AND DILUTED:
Net income available for common shareholders		$	0.66	$	0.65

Federal Realty OP LP Earnings per Unit

		Three Months Ended
		March 31,
		2024		2023
	(In thousands, except per unit data)
NUMERATOR
Net income		$	58,016	$	57,731
Less: Preferred unit distributions		(2,008)		(2,008)
Less: Income from operations attributable to noncontrolling interests		(1,280)		(2,396)
Less: Earnings allocated to unvested units		(333)		(327)
Net income available for common unit holders, basic and diluted		$	54,395	$	53,000
DENOMINATOR
Weighted average common units outstanding, basic and diluted		82,605		81,141
EARNINGS PER COMMON UNIT, BASIC AND DILUTED:
Net income available for common unit holders		$	0.66	$	0.65