FEDERAL REALTY INVESTMENT TRUST

Federal Realty Investment Trust (NYSE: FRT) operates as an equity real estate investment trust specializing in the ownership, management, and redevelopment of high-quality retail and mixed-use properties. The company's website is www.federalrealty.com.

As of December 31, 2025, Federal Realty owns or holds a majority interest in 104 predominantly retail real estate projects comprising approximately 28.8 million commercial square feet across 14 states and the District of Columbia. The portfolio is concentrated in major coastal markets and select underserved markets with strong economic and demographic fundamentals. At year-end 2025, the properties were 96.1 percent leased and 94.1 percent occupied, with anchor tenant space at 97.3 percent leased and 95.5 percent occupied.

The company generates revenue primarily through lease agreements with tenants, including base rent, percentage rent based on tenant sales, and reimbursements for real estate taxes and operating expenses. Federal Realty's portfolio includes regional, community, and neighborhood shopping centers often anchored by grocery stores, as well as mixed-use properties that combine retail components with residential and office space.

Federal Realty's investment strategy focuses on deploying capital in properties with potential for future income growth and increased value through renovation, expansion, reconfiguration, and retenanting. The company actively manages its properties to maximize rents and maintain occupancy by attracting and retaining a diverse tenant base while replacing underperforming tenants with stronger operators. The company emphasizes properties in densely populated and affluent areas where high barriers to entry limit competitive development.

Founded in 1962, Federal Realty has paid quarterly dividends to shareholders continuously since inception and has increased dividends per common share for 58 consecutive years. The company operates through Federal Realty OP LP, its operating partnership, which holds substantially all assets and conducts substantially all operations. As of February 9, 2026, Federal Realty employed 314 full-time employees and 6 part-time employees. The company qualifies as a REIT for federal income tax purposes and is not subject to federal income tax on taxable income distributed to shareholders.