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Consolidated Statements Of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUE        
Rental income $ 280,388 $ 263,830 $ 553,186 $ 520,337
Mortgage interest income 291 269 552 533
Total revenue 280,679 264,099 553,738 520,870
EXPENSES        
Rental expenses 55,610 51,169 110,815 107,380
Real estate taxes 32,381 31,265 64,947 61,825
General and administrative 11,913 13,604 24,458 25,946
Depreciation and amortization 78,974 74,461 157,611 146,135
Total operating expenses 178,878 170,499 357,831 341,286
Gain on sale of real estate 0 0 1,702 0
OPERATING INCOME 101,801 93,600 197,609 179,584
OTHER INCOME/(EXPENSE)        
Other interest income 2,422 133 3,054 253
Interest expense (42,884) (32,074) (82,109) (63,647)
Income from partnerships 1,665 2,808 2,181 3,005
NET INCOME 63,004 64,467 120,735 119,195
Net income attributable to noncontrolling interests (2,505) (2,791) (4,901) (5,535)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 60,499 61,676 115,834 113,660
Dividends on preferred shares (2,008) (2,008) (4,016) (4,018)
NET INCOME AVAILABLE FOR COMMON SHAREHOLDERS $ 58,491 $ 59,668 $ 111,818 $ 109,642
EARNINGS PER COMMON SHARE, BASIC:        
Net income available for common shareholders $ 0.72 $ 0.75 $ 1.37 $ 1.38
Weighted average number of common shares 81,214 79,202 81,178 78,826
EARNINGS PER COMMON SHARE, DILUTED:        
Net income available for common shareholders $ 0.72 $ 0.75 $ 1.37 $ 1.38
Weighted average number of common shares 81,214 79,202 81,178 78,855
COMPREHENSIVE INCOME        
COMPREHENSIVE INCOME $ 64,066 $ 66,689 $ 120,461 $ 125,333
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 61,449 63,701 115,573 119,257
Federal Realty OP LP        
REVENUE        
Rental income 280,388 263,830 553,186 520,337
Mortgage interest income 291 269 552 533
Total revenue 280,679 264,099 553,738 520,870
EXPENSES        
Rental expenses 55,610 51,169 110,815 107,380
Real estate taxes 32,381 31,265 64,947 61,825
General and administrative 11,913 13,604 24,458 25,946
Depreciation and amortization 78,974 74,461 157,611 146,135
Total operating expenses 178,878 170,499 357,831 341,286
Gain on sale of real estate 0 0 1,702 0
OPERATING INCOME 101,801 93,600 197,609 179,584
OTHER INCOME/(EXPENSE)        
Other interest income 2,422 133 3,054 253
Interest expense (42,884) (32,074) (82,109) (63,647)
Income from partnerships 1,665 2,808 2,181 3,005
NET INCOME 63,004 64,467 120,735 119,195
Net income attributable to noncontrolling interests (2,505) (2,791) (4,901) (5,535)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP 60,499 61,676 115,834 113,660
Distributions declared to preferred unit holders (2,008) (2,008) (4,016) (4,018)
NET INCOME AVAILABLE FOR COMMON UNIT HOLDERS $ 58,491 $ 59,668 $ 111,818 $ 109,642
EARNINGS PER COMMON UNIT, BASIC:        
Net income available for common unit holders $ 0.72 $ 0.75 $ 1.37 $ 1.38
Weighted average common units outstanding 81,214 79,202 81,178 78,826
EARNINGS PER COMMON UNIT, DILUTED:        
Net income available for common unit holders $ 0.72 $ 0.75 $ 1.37 $ 1.38
Weighted average common units outstanding 81,214 79,202 81,178 78,855
COMPREHENSIVE INCOME        
COMPREHENSIVE INCOME $ 64,066 $ 66,689 $ 120,461 $ 125,333
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP $ 61,449 $ 63,701 $ 115,573 $ 119,257