Federal Realty Reports 1Q Results; A Portfolio and Balance Sheet Built for This
Federal Realty reported first-quarter results that were marginally above management guidance but roughly in line with our expectations. We are currently maintaining our $138 per share fair value estimate and no-moat rating.Overall, operating performance remained steady despite prevailing retail industry choppiness. Leased levels for Federal Realty's same-center portfolio stayed roughly flat at 95.8% at the end of the quarter, down 10 basis points from a year ago. Comparable cash space leasing s...
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.
We have operations in 27 countries.
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