Federal Realty Investment Trust Earnings: Here’s Why Shares are Up Now
Federal Realty Investment Trust (NYSE:FRT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1%.
Federal Realty Investment Trust Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $1.11 in the quarter versus EPS of $0.97 in the year-earlier quarter.
Revenue: Rose 10.06% to $156.36 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Federal Realty Investment Trust reported adjusted EPS income of $1.11 per share. By that measure, the company beat the mean analyst estimate of $1.10. It beat the average revenue estimate of $154.04 million.
Quoting Management: “The fundamental strength of our operating portfolio and balance sheet were evident in 2012 as we achieved record setting FFO and FFO per share, strong same center POI growth and record levels of leasing at double digit rent increases on average,” commented Donald C. Wood, president and chief executive officer of Federal Realty Investment Trust. “When you combine that fundamental strength with our ability to acquire great assets like East Bay Bridge and the progress we’ve made on our development and redevelopment pipeline, we’re well positioned to continue to deliver strong results in 2013.”
Key Stats (on next page)…