Federal Realty Investment Trust Reports Strong Q4 and Full-Year 2025

REIT highlights solid leasing, active investment and disposition activity, and 2026 guidance reflecting continued momentum

Published on Feb. 15, 2026

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Federal Realty Investment Trust (NYSE:FRT) executives described 2025 as a 'strong quarter' and 'strong year' in their fourth-quarter earnings call, pointing to solid leasing performance, active investment and disposition activity, and 2026 guidance that management said reflects continued momentum despite a meaningful refinancing headwind.

Why it matters

As a leading real estate investment trust focused on open-air shopping centers and lifestyle-oriented urban destinations, Federal Realty's performance provides insights into broader trends in the retail real estate sector, consumer spending, and the commercial real estate market.

The details

Key highlights from the earnings call include: 6.4% bottom-line FFO growth in Q4 and 4.3% for the full year; record leasing volume in 2025 with the highest annual square footage leased and strongest comparable rent spreads in over a decade; $340 million in acquisitions adding nearly 1 million square feet; $169 million in Q4 dispositions and another $170 million expected in H1 2026; and $280 million allocated for new residential development projects.

  • Federal Realty reported its Q4 2025 earnings on February 15, 2026.
  • The company closed on Annapolis Town Center in Maryland and Village Pointe in Omaha in 2025.
  • Federal Realty sold Bristol Plaza in Connecticut and Pallas, a peripheral residential building at Pike & Rose, for a combined $169 million in Q4 2025.
  • The company closed on Misora, a peripheral residential building at Santana Row, for nearly $150 million after year-end.
  • Federal Realty expects to close on another $170 million in asset sales in the first half of 2026.

The players

Don Wood

Chief Executive Officer of Federal Realty Investment Trust.

Dan Guglielmone

Chief Financial Officer of Federal Realty Investment Trust.

Wendy Seher

Eastern Region President and Chief Operating Officer of Federal Realty Investment Trust.

Federal Realty Investment Trust

A real estate investment trust specializing in the ownership, management, and redevelopment of high-quality retail, restaurant, and mixed-use properties.

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What they’re saying

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What’s next

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The takeaway

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