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Consolidated Statements Of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUE        
Rental income $ 302,477 $ 287,095 $ 604,771 $ 571,081
Other property income 8,769 8,680 15,354 15,739
Mortgage interest income 277 277 552 555
Total revenue 311,523 296,052 620,677 587,375
EXPENSES        
Rental expenses 61,609 58,891 129,413 120,550
Real estate taxes 36,681 35,289 73,248 69,349
General and administrative 11,925 12,092 22,800 24,098
Depreciation and amortization 89,241 85,049 176,187 168,453
Total operating expenses 199,456 191,321 401,648 382,450
Gain on sale of real estate 76,501 52,280 77,672 52,280
New market tax credit transaction income 14,176 0 14,176 0
OPERATING INCOME 202,744 157,011 310,877 257,205
OTHER INCOME/(EXPENSE)        
Other interest income 905 1,051 1,648 2,534
Interest expense (44,598) (44,312) (87,073) (88,005)
Income from partnerships 905 905 1,082 937
NET INCOME 159,956 114,655 226,534 172,671
Net income attributable to noncontrolling interests (4,040) (2,673) (6,850) (3,953)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 155,916 111,982 219,684 168,718
Dividends on preferred shares (2,008) (2,008) (4,016) (4,016)
NET INCOME AVAILABLE FOR COMMON SHAREHOLDERS $ 153,908 $ 109,974 $ 215,668 $ 164,702
EARNINGS PER COMMON SHARE, BASIC        
Net income available for common shareholders, Basic $ 1.78 $ 1.32 $ 2.51 $ 1.98
Weighted average number of common shares, Basic 85,969 82,932 85,722 82,768
EARNINGS PER COMMON SHARE, DILUTED        
Net income available for common shareholders, Diluted $ 1.78 $ 1.32 $ 2.51 $ 1.98
Weighted average number of common shares, Diluted 86,611 83,563 86,300 82,768
COMPREHENSIVE INCOME        
COMPREHENSIVE INCOME $ 159,205 $ 114,796 $ 224,539 $ 175,740
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 155,232 112,125 217,856 171,708
Federal Realty OP LP        
REVENUE        
Rental income 302,477 287,095 604,771 571,081
Other property income 8,769 8,680 15,354 15,739
Mortgage interest income 277 277 552 555
Total revenue 311,523 296,052 620,677 587,375
EXPENSES        
Rental expenses 61,609 58,891 129,413 120,550
Real estate taxes 36,681 35,289 73,248 69,349
General and administrative 11,925 12,092 22,800 24,098
Depreciation and amortization 89,241 85,049 176,187 168,453
Total operating expenses 199,456 191,321 401,648 382,450
Gain on sale of real estate 76,501 52,280 77,672 52,280
New market tax credit transaction income 14,176 0 14,176 0
OPERATING INCOME 202,744 157,011 310,877 257,205
OTHER INCOME/(EXPENSE)        
Other interest income 905 1,051 1,648 2,534
Interest expense (44,598) (44,312) (87,073) (88,005)
Income from partnerships 905 905 1,082 937
NET INCOME 159,956 114,655 226,534 172,671
Net income attributable to noncontrolling interests (4,040) (2,673) (6,850) (3,953)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 155,916 111,982 219,684 168,718
Distributions on preferred units (2,008) (2,008) (4,016) (4,016)
NET INCOME AVAILABLE FOR COMMON UNIT HOLDERS $ 153,908 $ 109,974 $ 215,668 $ 164,702
EARNINGS PER COMMON UNIT, BASIC:        
Net income available for common unit holders, Basic $ 1.78 $ 1.32 $ 2.51 $ 1.98
Weighted average number of common units, Basic 85,969 82,932 85,722 82,768
EARNINGS PER COMMON UNIT DILUTED:        
Net income available for common unit holders, Diluted $ 1.78 $ 1.32 $ 2.51 $ 1.98
Weighted average common units outstanding, diluted 86,611 83,563 86,300 82,768
COMPREHENSIVE INCOME        
COMPREHENSIVE INCOME $ 159,205 $ 114,796 $ 224,539 $ 175,740
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP $ 155,232 $ 112,125 $ 217,856 $ 171,708