Federal Realty Investment Trust Lifts FY22 Outlook

(RTTNews) - While reporting its fourth-quarter results, Federal Realty Investment Trust (FRT) increased its outlook for the full year 2022.

Federal Realty now expects earnings of $2.30 to $2.50 per share and FFO of $5.75 to $5.95 per share for 2022. Previously, the company expected earnings of $2.25 to $2.45 per share and FFO of $5.65 to $5.85 per share.

Analysts polled by Thomson Reuters currently estimate earnings of $2.29 per share for 2022.

"2021 outperformed even our most optimistic expectations," said Donald C. Wood, Chief Executive Officer. "Leasing momentum continued at unprecedented levels, clear indication of strong demand for our properties and our locations. The broad-based leasing that has been done over the past several quarters, along with our development and acquisitions pipelines set Federal up for an active 2022 with all eyes on bottom line earnings growth."

Federal Realty also declared a quarterly dividend of $1.07 per share, payable on April 15, 2022 to common shareholders of record as of March 16, 2022.