Federal Realty Investment Trust
(NYSE: FRT)
100.77
-3.35-3.22%Today's Close
|
102.09
+1.32
+1.31%
After hours
-3.35-3.22%Today's Close
|
102.09
+1.32
+1.31%
After hours
MORE ON FRT
COMPANY INFORMATION
| Exchange: | New York Stock Exchange |
| Stock: | Federal Realty Investment Trust |
| Industry: | REIT - Retail |
| Employees: | 421 |
DESCRIPTION
| Federal Realty Investment Trust was founded in 1962 as a real estate investment trust under the laws of the District of Columbia and reformed as a real estate investment trust in the state of Maryland in 1999. The Company is an equity real estate investment trust specializing in the ownership, management, development and redevelopment of retail and mixed-use properties located mainly in densely populated and affluent communities in strategically selected metropolitan markets in the Northeast and Mid-Atlantic regions of the United States, as well as in California. As of December 31, 2011, the Company owned or had a majority interest in community and neighborhood shopping centers and mixed-use properties which are operated as 87 predominantly retail real estate projects comprising approximately 19.3 million square feet. In total, the real estate projects were 93.4% leased and 92.4% occupied at December 31, 2011. A joint venture in which it owns a 30% interest owned seven retail real estate projects totaling approximately 1.0 million square feet as of December 31, 2011. Federal Realty's core operating strategy is to actively manage its properties to maximize rents and maintain high occupancy levels by attracting and retaining a strong and diverse base of tenants and replacing weaker, under performing tenants with stronger ones. Numerous commercial developers and real estate companies compete with it with respect to the leasing and the acquisition of properties. The Company and its properties are subject to a variety of federal, state and local environmental, health, safety and similar laws. |
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