Federal realty investment trust (FRT)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Sep'09Jun'09
REVENUE
Rental income

230,798

238,303

233,212

229,731

231,492

234,511

228,960

224,168

224,648

233,545

212,048

204,246

204,447

200,871

197,469

192,935

195,308

189,200

181,562

175,884

181,166

171,634

166,112

162,383

166,193

159,953

154,308

153,212

152,616

150,714

146,943

141,796

140,661

135,297

134,014

133,000

134,438

132,140

129,527

129,636

131,348

126,169

126,090

Other property income

-

-

-

-

-

-

-

-

-

-

5,171

3,068

2,190

2,456

2,759

3,488

2,312

2,446

2,479

4,420

2,465

3,411

3,622

4,325

3,400

2,508

3,480

2,913

3,268

2,364

9,007

4,478

4,362

2,679

2,341

2,146

2,090

3,302

2,824

2,509

5,910

3,714

2,941

Mortgage interest income

759

846

735

734

735

865

793

734

757

841

734

735

752

782

929

1,558

724

861

1,211

1,157

1,161

1,332

1,204

1,239

1,235

1,385

1,242

1,263

1,265

1,632

1,282

1,286

1,266

1,534

1,309

1,134

1,121

1,369

1,095

1,071

1,066

1,109

1,307

Total revenue

231,557

239,149

233,947

230,465

232,227

235,376

229,753

224,902

225,405

223,957

217,953

208,049

207,389

204,109

201,157

197,981

198,344

192,507

185,252

181,461

184,792

176,377

170,938

167,947

170,828

163,846

159,030

157,388

157,149

154,710

157,232

147,560

146,289

139,510

137,664

136,280

137,649

136,811

133,446

133,216

138,324

130,992

130,338

EXPENSES
Rental expenses

44,312

47,649

54,484

41,438

44,260

46,507

41,909

39,905

44,773

45,403

41,250

37,128

41,109

39,941

38,588

36,978

42,819

39,092

34,439

32,623

41,439

34,974

31,908

31,405

37,130

31,940

29,045

28,209

29,501

29,942

29,658

26,906

26,110

28,234

26,595

25,133

29,402

28,074

27,030

25,511

29,904

24,367

25,080

Real estate taxes

29,064

29,044

29,030

25,166

27,687

28,935

29,086

28,307

28,448

28,735

27,492

26,522

25,090

24,122

24,973

23,397

22,794

22,959

21,804

20,667

20,394

18,268

20,374

19,164

18,700

18,155

18,400

17,632

17,572

16,636

17,224

16,537

16,057

14,403

15,047

15,547

15,407

13,562

15,185

14,828

15,088

14,485

14,821

General and administrative

10,251

10,707

11,060

11,422

9,565

9,620

7,638

8,413

7,929

10,268

9,103

8,643

8,267

8,121

8,232

9,036

8,010

8,119

9,374

9,299

8,853

8,114

8,374

8,124

7,704

9,068

7,543

8,302

7,057

8,264

8,751

7,139

7,004

9,342

7,197

6,395

6,051

6,780

5,904

6,016

5,489

5,749

5,276

Litigation provision

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

330

125

Depreciation and amortization

62,188

61,431

59,648

59,057

59,622

66,976

60,778

58,381

58,110

56,394

55,611

52,666

51,379

48,448

48,903

48,435

47,799

46,423

43,718

42,671

41,984

43,411

42,660

40,893

43,850

41,213

39,341

39,757

40,517

35,084

34,847

35,199

36,571

31,533

32,068

31,871

30,416

29,566

29,431

31,020

28,861

28,410

29,633

Total operating expenses

145,815

148,831

154,222

137,083

141,134

152,038

139,411

135,006

139,260

140,800

133,456

124,959

125,845

120,632

120,696

117,846

121,422

116,593

109,335

105,260

112,670

104,767

103,316

99,586

107,384

100,376

94,329

93,900

94,647

89,926

90,480

85,781

85,742

83,512

80,907

78,946

81,276

78,312

77,550

77,375

79,342

73,341

74,935

INCOME FROM CONTINUING OPERATIONS

-

-

-

-

-

-

-

-

-

-

58,107

59,137

57,892

59,724

56,253

57,111

53,337

53,177

54,550

34,164

48,203

-

44,648

45,416

-

29,603

39,390

33,379

35,439

37,829

39,285

33,596

32,262

30,931

33,532

33,893

31,963

33,873

30,740

30,644

30,594

28,839

29,250

Discontinued operations - income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

115

424

403

-

400

-

-

1,249

13

509

421

432

270

314

-40

-

161

Discontinued operations - gain on deconsolidation of VIE

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,026

-

-

0

-

-

-

-

Discontinued operations - gain on sale of real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23,861

-

-

-

0

-

-

-

14,757

43

-

-

0

1,000

-

-

383

Results from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23,976

-

-

-

371

-

-

-

14,770

2,578

-

-

270

1,314

-

-

544

Income before gain on sale of real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

63,366

33,803

-

-

39,656

-

-

32,455

48,302

36,471

32,384

-

31,010

31,958

-

28,839

29,794

Gain (Loss) on Sale of Properties, Net of Applicable Income Taxes

-

-

14,293

16,197

-

1,502

3,125

3,972

3,316

7,973

50,775

18,996

178

0

4,945

1,787

25,726

16,821

0

11,509

0

-

4,401

0

-

-

0

4,994

-

-

0

0

-

-

-

-

-

-

0

410

-

-

-

OPERATING INCOME

85,742

176,221

94,018

109,579

91,093

84,840

93,467

93,868

89,461

161,079

84,497

83,090

81,544

83,477

80,461

80,135

76,922

75,914

75,917

76,201

72,122

71,610

67,622

68,361

63,444

63,470

64,701

63,488

62,502

64,784

66,752

61,779

60,547

55,998

56,757

57,334

56,373

58,499

55,896

55,841

58,982

57,651

55,403

OTHER INCOME/(EXPENSE)
Other interest income

308

511

389

189

177

285

319

159

179

222

79

68

106

89

105

77

103

40

6

74

29

49

2

18

25

268

70

65

30

109

261

112

207

47

136

20

15

23

18

33

182

924

260

Interest Expense

28,445

27,056

27,052

27,482

28,033

28,038

28,166

27,766

26,184

26,173

26,287

23,907

23,758

23,851

24,313

23,101

23,729

23,207

21,733

23,445

24,168

24,169

23,422

23,213

23,137

24,663

25,762

27,147

27,405

27,592

28,218

28,733

28,793

25,721

23,795

23,905

25,044

25,203

25,299

25,418

25,962

30,209

25,830

Early extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-19,072

-

-

0

0

-

-

0

-3,399

-

-

0

0

-

0

0

0

296

0

0

0

-2,801

-

-982

Income (Loss) from Equity Method Investments

-1,164

-710

-249

381

-1,434

-705

-1,440

-728

-525

-121

-182

-114

0

9

0

0

41

430

360

406

220

334

446

250

213

433

381

372

312

528

490

438

301

607

434

444

323

554

125

188

193

473

399

Gain on sale of real estate in real estate partnership

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

11,860

-

0

0

0

-

-

-

-

-

-

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

56,441

148,966

67,106

82,667

61,803

56,382

64,180

65,533

62,931

52,785

108,882

78,133

58,070

59,724

61,198

58,898

79,063

69,998

54,550

45,673

48,203

37,279

49,049

45,416

40,545

29,603

63,366

38,797

35,842

38,858

39,656

33,596

44,122

32,455

48,302

36,471

32,384

34,305

31,010

32,368

30,554

28,839

29,794

Net Income (Loss) Attributable to Noncontrolling Interest

1,678

1,611

1,641

1,765

1,659

1,875

1,622

1,938

1,684

2,129

2,105

1,842

1,880

1,687

2,221

2,957

2,108

2,044

2,103

2,041

2,017

2,117

1,974

1,871

1,792

1,147

1,268

1,258

1,254

1,166

1,012

993

1,136

1,534

1,249

1,714

1,198

1,489

1,370

1,254

1,334

1,406

1,377

NET INCOME ATTRIBUTABLE TO THE TRUST

54,763

147,355

65,465

80,902

60,144

54,507

62,558

63,595

61,247

50,656

106,777

76,291

56,190

58,037

58,977

55,941

76,955

67,954

52,447

43,632

46,186

35,162

47,075

43,545

38,753

28,456

62,098

37,539

34,588

37,692

38,644

32,603

42,986

30,921

47,053

34,757

31,186

32,816

29,640

31,114

29,220

27,433

28,417

Preferred Stock Dividends, Income Statement Impact

2,010

2,011

2,010

2,011

2,010

2,011

2,010

2,011

2,010

2,011

177

135

135

135

136

135

135

135

136

135

135

135

136

135

135

135

136

135

135

135

136

135

135

135

136

135

135

135

136

135

135

136

135

NET INCOME AVAILABLE FOR COMMON SHAREHOLDERS

52,753

145,344

63,455

78,891

58,134

52,496

60,548

61,584

59,237

48,645

106,600

76,156

56,055

57,902

58,841

55,806

76,820

67,819

52,311

43,497

46,051

35,027

46,939

43,410

38,618

28,321

61,962

37,404

34,453

37,557

38,508

32,468

42,851

30,786

46,917

34,622

31,051

32,681

29,504

30,979

29,085

27,297

28,282

EARNINGS PER COMMON SHARE, BASIC:
Continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.78

0.73

-

0.75

0.46

0.67

-

0.62

0.64

-

0.43

0.57

0.49

0.52

0.57

0.59

0.51

0.48

0.47

0.51

0.51

0.49

0.53

0.48

0.47

0.47

0.45

0.47

Gain on sale of real estate and change in control of interests, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.01

0.37

-

0.00

0.17

0.00

-

0.07

0.00

-

-

0.00

0.08

-

0.00

0.00

0.00

0.19

0.00

0.00

0.00

0.00

-

0.00

0.01

-

-

-

Discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.37

0.00

0.01

-

0.01

-

-

0.03

0.23

0.04

0.01

0.01

0.00

0.02

0.00

-

0.01

Net income available for common shareholders

0.70

1.94

0.84

1.05

0.78

0.71

0.82

0.84

0.81

0.67

1.47

1.05

0.78

0.80

0.82

0.79

1.10

0.99

0.75

0.63

0.67

0.51

0.69

0.64

0.58

0.43

0.94

0.57

0.53

0.58

0.60

0.51

0.67

0.50

0.74

0.55

0.50

0.54

0.48

0.50

0.47

0.45

0.48

Weighted average number of common shares

75,360

75,319

74,832

74,713

74,200

73,801

73,400

72,990

72,905

72,514

72,091

72,001

71,862

71,621

71,319

70,797

69,771

69,283

69,006

68,531

68,368

68,004

67,559

67,110

66,615

65,979

65,504

65,149

64,692

64,399

64,014

63,700

63,411

63,249

62,818

62,214

61,471

-

-

-

-

-

-

EARNINGS PER COMMON SHARE, DILUTED:
Continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.77

0.73

-

0.75

0.46

0.67

-

0.62

0.64

-

0.42

0.57

0.49

0.52

0.56

0.59

0.51

0.48

0.46

0.51

0.51

0.49

0.52

0.48

0.47

0.47

0.45

0.47

Gain on sale of real estate and change in control of interests, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.01

0.37

-

0.00

0.17

0.00

-

0.07

0.00

-

-

0.00

0.08

-

0.00

0.00

0.00

0.19

0.00

0.00

0.00

0.00

-

0.00

0.01

-

-

-

Discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.37

0.00

0.01

-

0.01

-

-

0.03

0.23

0.04

0.01

0.01

0.00

0.02

0.00

-

0.01

Net income available for common shareholders

0.70

1.94

0.84

1.05

0.78

0.71

0.82

0.84

0.81

0.67

1.47

1.05

0.78

0.80

0.82

0.78

1.10

0.98

0.75

0.63

0.67

0.51

0.69

0.64

0.57

0.42

0.94

0.57

0.53

0.57

0.60

0.51

0.67

0.49

0.74

0.55

0.50

0.53

0.48

0.50

0.47

0.45

0.48

Weighted average number of common shares

75,360

75,319

74,832

74,713

74,200

73,807

73,408

73,025

72,968

72,597

72,206

72,124

72,005

71,776

71,489

70,974

69,957

69,467

69,181

68,713

68,563

68,186

67,732

67,277

66,773

66,127

65,647

65,311

64,847

64,557

64,202

63,880

63,585

63,402

62,990

62,391

61,629

-

-

-

-

-

-

Comprehensive Income
COMPREHENSIVE INCOME

49,989

149,288

66,995

82,268

61,594

55,839

63,895

65,456

63,398

53,549

109,240

78,526

59,154

62,541

63,097

58,490

76,288

73,018

52,329

46,740

45,742

35,524

51,349

43,316

40,002

31,725

62,195

47,202

37,457

39,697

36,804

25,803

45,480

28,515

48,302

36,471

32,384

-

-

-

-

-

-

COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST

48,311

147,677

65,354

80,503

59,935

53,964

62,273

63,518

61,714

51,420

107,135

76,684

57,274

60,854

60,876

55,533

74,180

70,974

50,226

44,699

43,725

33,407

49,375

41,445

38,210

30,578

60,927

45,944

36,203

38,531

35,792

24,810

44,344

26,981

47,053

34,757

31,186

-

-

-

-

-

-