Highlights of the quarter include:
Generated funds from operations available for common shareholders (FFO) per diluted share of $1.60 for the quarter compared to $1.55 in second quarter 2018.
Generated comparable property operating income (POI) growth of 3.5% for the second quarter.
Signed leases for 378,756 sf of comparable space in the second quarter at an average rent of $42.68 psf and achieved cash basis rollover growth on those comparable spaces of 7%.
Opportunistically issued $300 million aggregate principal amount of 3.20% Notes due 2029.
Amended our revolving credit facility to increase our borrowing capacity to $1.0 billion, extend the maturity date to January 2024, plus two six-month extension options, and lower the spread over LIBOR to 77.5 basis points.
Increased the regular quarterly dividend rate on common shares to $1.05 per share, representing the 52nd consecutive year of common dividend increases.
Maintained our 2019 FFO per diluted share guidance range of $6.30 - $6.46.
"Continuing to reliably grow bottom line results despite headwinds remains our focal point and the second quarter didn't disappoint," said Donald C. Wood, President and Chief Executive Officer. "Our multi-faceted business plan including great properties, strong leases, redevelopment and development opportunities and an advantageous cost of capital all contributed to a solid result and allowed us to increase our dividend to our shareholders for a REIT-record 52 years in a row."
Federal Realty Investment Trust Announces Second Quarter 2019 Operating Results
