FEDERAL REALTY INVESTMENT TRUST (FRT)

Federal Realty Investment Trust is an equity REIT that conducts substantially all of its operations through Federal Realty OP LP, its operating partnership, which is controlled via Federal Realty GP LLC, a wholly-owned subsidiary serving as sole general partner. The company specializes in owning, managing, and redeveloping high-quality retail and mixed-use properties located primarily in major coastal markets and select underserved markets with strong economic and demographic fundamentals. As of December 31, 2025, the Trust owned or held majority interests in 104 predominantly retail real estate projects totaling approximately 28.8 million commercial square feet, which were 96.1% leased and 94.1% occupied.

Revenue is generated primarily through tenant lease agreements. Founded in 1962 as a District of Columbia REIT and re-formed in Maryland in 1999, the company completed an UPREIT reorganization in January 2022 and has paid quarterly dividends continuously since inception, increasing per-share dividends for 58 consecutive years. Its business objectives center on providing growing cash flow to shareholders, achieving above-industry internal growth, and capital appreciation, pursued through operating, investing, and financing strategies that include maximizing rents and occupancy, maintaining a diversified and high-quality tenant base, acquiring and redeveloping properties in densely populated affluent areas with high barriers to entry, and maintaining an investment-grade balance sheet with prudent leverage and diversified capital sources such as equity issuances, unsecured/secured debt, operating partnership units, and joint ventures.

The company elected REIT status for tax purposes starting with its 1962 tax return and must distribute at least 90% of taxable income to maintain that status, while also utilizing taxable REIT subsidiaries (TRSs) for certain non-core activities, though such activities have not been material. As of February 9, 2026, the company had 314 full-time and 6 part-time employees, none unionized, and emphasizes employee health, wellness, competitive compensation, and community involvement. The company faces competition from other real estate developers and online/alternative retail formats, and is subject to environmental, health, safety, and energy/emissions regulations, though compliance costs have not historically been material.

Federal Realty maintains its principal executive offices in North Bethesda, Maryland, and makes its SEC filings and governance materials available through its corporate website.