Federal Realty Investment Trust Raises 2022 Earnings Guidance

(RTTNews) - Federal Realty Investment Trust (FRT) has increased the company's 2022 earnings per share guidance to $2.36 - $2.56. The company also increased 2022 FFO per share guidance to $5.85 - $6.05, an increase of 10 cents at the midpoint.

First quarter earnings totaled $49.97 million, or $0.63 per share compared to $46.23 million, or $0.60 per share, last year. Analysts on average had expected the company to earn $0.48 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.7% to $256.77 million from $218.16 million last year.