Federal Realty raises annual core profit forecast on strong leasing demand
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The Maryland-based real estate investment trust, which owns shopping centers and mixed-use properties leased to tenants including Trader Joe's, Whole Foods and Best Buy, has benefited from demand for space in densely populated, high-income metropolitan markets. * The company expects annual core funds from operations, a key performance measure for REITs, to be between $7.48 and $7.56 per share, compared with its prior forecast of $7.46 to $7.55 per share. * Core funds from operations rose 6.8% to $1.88 per diluted share in the quarter ended June 30 from $1.76 a year earlier. * Federal Realty's quarterly revenue rose to $335.7 million, from $311.5 million a year ago. * Revenue from rental income rose 7.7% to $325.9 million during the quarter. * Portfolio occupancy, or percentage of rentable space occupied by tenants, was 93.8% as of June 30, up 20 basis points from a year earlier, while its leased rate increased 70 basis points to 96.1% (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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