Federal Realty Q3 2026: revenue up 5.2%, FFO per share up 5.6%
Federal Realty beat the $0.7315 consensus EPS line with $0.74 and lifted the low end of its full-year FFO range. The quarter's real story is leasing: 14% cash rent spreads on 532,220 square feet and a 96.5% leased rate. Read revenue and FFO together — revenue grew 5.2% while GAAP net income grew 7.0%, because depreciation and interest absorb most of the difference.
1 · Expected vs. Actual
Free preview belowGAAP earnings per diluted share of $0.74 edged past the $0.7315 consensus and improved on $0.69 a year earlier. The number REIT investors actually track, Core FFO, was $1.87 per diluted share versus $1.77, the 5.6% increase management highlighted. GAAP net income of $69.0 million is a 20.3% margin on revenue, but $100.3 million of depreciation and $49.7 million of interest sit between the top line and that profit — which is exactly why FFO exists.
Revenue came in at $339.0 million, up 5.2% from $322.3 million a year ago. Commercial minimum rents did the work, rising to $228.4 million from $214.6 million, helped by cost reimbursements of $68.9 million versus $63.4 million. Residential minimum rents slipped to $23.1 million from $25.8 million, so the retail portfolio carried the whole increase.
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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 2026-11-02
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