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Consolidated Statements Of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUE        
Rental income $ 303,352 $ 286,323 $ 890,172 $ 839,509
Mortgage interest income 281 281 836 833
Total revenue 303,633 286,604 891,008 840,342
EXPENSES        
Rental expenses 63,898 58,595 184,448 169,410
Real estate taxes 36,053 33,045 105,402 97,992
General and administrative 10,822 13,149 34,920 37,607
Depreciation and amortization 87,028 81,731 255,481 239,342
Total operating expenses 197,801 186,520 580,251 544,351
Gain on sale of real estate 0 0 52,280 1,702
OPERATING INCOME 105,832 100,084 363,037 297,693
OTHER INCOME/(EXPENSE)        
Other interest income 978 721 3,512 3,775
Interest expense (44,237) (42,726) (132,242) (124,835)
Income from partnerships 888 1,313 1,825 3,494
NET INCOME 63,461 59,392 236,132 180,127
Net income attributable to noncontrolling interests (2,508) (2,344) (6,461) (7,245)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 60,953 57,048 229,671 172,882
Dividends on preferred shares (2,008) (2,008) (6,024) (6,024)
NET INCOME AVAILABLE FOR COMMON SHAREHOLDERS $ 58,945 $ 55,040 $ 223,647 $ 166,858
EARNINGS PER COMMON SHARE, BASIC AND DILUTED:        
Net income available for common shareholders, Basic $ 0.70 $ 0.67 $ 2.68 $ 2.04
Weighted average number of common shares, Basic 83,994 81,274 83,180 81,210
Net income available for common shareholders, Diluted $ 0.70 $ 0.67 $ 2.68 $ 2.04
Weighted average number of common shares, Diluted 83,994 81,274 83,180 81,210
COMPREHENSIVE INCOME        
COMPREHENSIVE INCOME $ 58,404 $ 60,787 $ 234,144 $ 181,248
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 56,083 58,325 227,791 173,898
Federal Realty OP LP        
REVENUE        
Rental income 303,352 286,323 890,172 839,509
Mortgage interest income 281 281 836 833
Total revenue 303,633 286,604 891,008 840,342
EXPENSES        
Rental expenses 63,898 58,595 184,448 169,410
Real estate taxes 36,053 33,045 105,402 97,992
General and administrative 10,822 13,149 34,920 37,607
Depreciation and amortization 87,028 81,731 255,481 239,342
Total operating expenses 197,801 186,520 580,251 544,351
Gain on sale of real estate 0 0 52,280 1,702
OPERATING INCOME 105,832 100,084 363,037 297,693
OTHER INCOME/(EXPENSE)        
Other interest income 978 721 3,512 3,775
Interest expense (44,237) (42,726) (132,242) (124,835)
Income from partnerships 888 1,313 1,825 3,494
NET INCOME 63,461 59,392 236,132 180,127
Net income attributable to noncontrolling interests (2,508) (2,344) (6,461) (7,245)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 60,953 57,048 229,671 172,882
Distributions on preferred units (2,008) (2,008) (6,024) (6,024)
NET INCOME AVAILABLE FOR COMMON UNIT HOLDERS $ 58,945 $ 55,040 $ 223,647 $ 166,858
EARNINGS PER COMMON UNIT, BASIC AND DILUTED:        
Net income available for common unit holders, Basic $ 0.70 $ 0.67 $ 2.68 $ 2.04
Weighted average number of common units, Basic 83,994 81,274 83,180 81,210
Net income available for common unit holders, Diluted $ 0.70 $ 0.67 $ 2.68 $ 2.04
Weighted average number of common units, Diluted 83,994 81,274 83,180 81,210
COMPREHENSIVE INCOME        
COMPREHENSIVE INCOME $ 58,404 $ 60,787 $ 234,144 $ 181,248
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP $ 56,083 $ 58,325 $ 227,791 $ 173,898