Federal Realty Q2 2026: Core FFO up 6.8%, guidance raised
Federal Realty's core engine is running well — Core FFO per share rose 6.8% to $1.88 and management raised 2026 guidance — but reported net income fell to $88.6 million from $160.0 million because last year carried a bigger property-sale gain and a one-time tax credit. Read the FFO lines, not GAAP EPS, to judge this quarter.
1 · Expected vs. Actual
Free preview belowGAAP EPS was $0.97, down from $1.78, while Core FFO per diluted share was $1.88, up 6.8% from $1.76. The GAAP drop is mostly optics: sale gains shrank to $20.6 million from $76.5 million, and last year's quarter included a $13.0 million new-market tax credit benefit. Against a single consensus estimate of 0.7188, the reported $0.97 GAAP figure came in about 34.9% above it.
Revenue rose 7.8% to $335.7 million from $311.5 million a year earlier, with rental income of $325.9 million doing nearly all the work. Property-sale gains of $20.6 million sit below the operating line, not inside revenue, so this growth came from rent and cost reimbursements rather than asset sales.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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