A high-quality portfolio should help Federal Realty weather retail headwinds.
Federal Realty reported a solid second quarter that was just below our view on fundamentals but above on execution of development opportunities, leading us to confirm our $117 fair value estimate and no-moat rating. Occupancy increased year over year 40 basis points to 94.1%, and the percentage of the portfolio leased increased year over year by 20 basis points to 95.5%. Releasing spreads were up 10%, which represents another strong quarter with double-digit spread on signed leases but slightly ...Federal Realty Investment Trust is an equity real estate investment trust that focuses on the ownership, management, and redevelopment of retail and mixed-use properties located primarily in communities in selected metropolitan markets in the Northeast and Mid-Atlantic regions of the United States, as well as in California and South Florida. The company owns or has a majority interest in community and neighborhood shopping centers and mixed-use properties which are operated as predominantly retail real estate projects.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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