Earnings release
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NEWS RELEASE FOR IMMEDIATE RELEASE Investor and Media Inquiries : Brenda Pomar Director , Corporate Communications 301.998.8316 bpomar@federalrealty.com FEDERAL 1962 www.federalrealty.com Federal Realty Investment Trust Announces Third Quarter 2021 Operating Results NORTH BETHESDA , Md . ( November 4 , 2021 ) - Federal Realty Investment Trust ( NYSE : FRT ) today reported operating results for its third quarter ended September 30 , 2021. For the three months ended September 30 , 2021 and 2020 , net income ( loss ) available for common shareholders was $ 0.64 per diluted share and ( $ 0.41 ) per diluted share , respectively . Highlights for the quarter and subsequent events include : • • Generated funds from operations available to common shareholders ( FFO ) per diluted share of $ 1.51 for the quarter compared to $ 1.12 for the third quarter 2020 . Strong levels of leasing activity with 119 signed leases for 430,234 square feet of comparable space during third quarter and 346 signed leases for 1.5 million square feet of comparable space through the first nine months of 2021 . Federal Realty's portfolio was 90.2 % occupied , a sequential increase of 60 basis points . ° 260 basis point spread between leased and occupied Acquired Twinbrooke Shopping Centre in Fairfax , Virginia , bringing the COVID - era , off - market acquisitions total to 5 properties , 1.9 million square feet and 135 acres . Increased 2021 earnings per diluted share guidance to $ 2.30 to $ 2.35 and increased 2021 FFO per diluted share guidance to $ 5.45 to $ 5.50 . Increased 2022 earnings per diluted share guidance to $ 2.25 to $ 2.45 and increased 2022 FFO per diluted share guidance to $ 5.65 to $ 5.85 . " Strong results from all facets of our business were on full display in the third quarter , " said Donald C. Wood , Chief Executive Officer . " Collections have improved dramatically , new and exciting retail and office tenants are committing to long term leases at a very brisk pace , and our development and acquisition pipeline have never been more active . We're more confident than ever that the places we create and the markets that we're in are spot on in a post COVID world . " 3