Federal Realty Investment Trust

Rank#2073

Market Cap9.70B

CountryUnited States

Summary

Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty's mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 106 properties include approximately 3,100 tenants, in 25 million square feet, and approximately 3,200 residential units. Federal Realty has increased its quarterly dividends to its shareholders for 54 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.federalrealty.com.

History

In 1962, the company was founded by Samuel J. Gorlitz in Washington, D.C.In 1999, the company was reorganized as a real estate investment trust in Maryland.In 2007, founder Samuel J. Gorlitz died.In 2008, the company acquired Del Mar Village in Boca Raton, Florida for $41.7 million.In 2012, the company acquired a controlling interest in Montrose Crossing, a property in Rockville, Maryland for $127 million and a controlling interest in a property in El Segundo, California for $183.5 million.In 2013, the company sold a movie theater in Forest Hills, New York for $20.5 million.In 2014, the company acquired 2 shopping centers in Monmouth County, New Jersey for $161 million.In 2015, the company acquired an 85% interest in The Shops at Sunset Place based on a property valuation of $110.2 million.In 2016, the company was added to the S&P 500 Index.In 2017, the company acquired a property in Pasadena, California for $29.5 million. The company also acquired Riverpoint Center in Chicago, Illinois for $107 million and 7 properties in Los Angeles County for $345 million.In 2021, the company acquired a 60% ownership stake in Grossmont Center in La Mesa, California worth $175 million.

Mission

Our mission is to create maintained and productive shopping, dining, entertainment and living experiences that foster a sense of community and enhance the quality of life for the people that visit, shop, dine and live in our centers.

Vision

Our vision is to create environments that meet the needs of today’s consumers by seamlessly blending traditional retail, entertainment and dining experiences with modern concepts of lifestyle, connectivity, technology and experience.

References

https://en.wikipedia.org/wiki/Federal_Realty_Investment_Trust

https://in.investing.com/equities/federal-realty-investment-trust

https://finance.yahoo.com/quote/FRT/profile?p=FRT

https://www.crunchbase.com/organization/federal-realty-investment-trust

https://sec.report/CIK/0000034903

https://companiesmarketcap.com/

https://www.federalrealty.com

Leadership team

Mr. Donald C. Wood CPA (CEO & Director)

Mr. Jeffrey S. Berkes (Pres & COO)

Mr. Daniel Guglielmone (Exec. VP, CFO & Treasurer)