Federal Realty Investment Trust (NYSE:FRT), an $8.17 billion market cap REIT with a notable 4.62% dividend yield and 53 consecutive years of dividend payments, announced on Monday an amendment to the severance agreement of their Executive Vice President-Chief Financial Officer and Treasurer, Daniel Guglielmone. The amendment, effective May 7, 2025, entitles Mr. Guglielmone to one year of base salary and annual bonus if terminated without cause, contingent upon the conditions set out in the agreement.
Furthermore, at the annual meeting of shareholders held on May 7, 2025, several key votes took place. Shareholders elected trustees, with votes ranging from 70,233,100 to 73,554,743 in favor of the candidates. The advisory vote on the compensation of named executive officers resulted in 67,971,680 votes for, 5,721,669 against, and 113,059 abstentions. Additionally, Grant Thornton LLP was ratified as the company’s independent registered public accounting firm for the year ending December 31, 2025, with 74,631,396 votes for the appointment.
The details of the amendment to Mr. Guglielmone’s severance agreement are included in the exhibit filed with this report. This information is based on a press release statement from Federal Realty Investment Trust and Federal Realty OP LP. For comprehensive analysis and additional insights, investors can access the detailed Pro Research Report available on InvestingPro.
In other recent news, Federal Realty Investment Trust reported its first-quarter earnings for 2025, demonstrating a solid performance that slightly exceeded analyst expectations. The company posted earnings per share (EPS) of $0.72, surpassing the forecast of $0.71, and reported revenue of $309.15 million, beating the anticipated $307.59 million. Federal Realty raised its full-year Funds From Operations (FFO) per share guidance to a range of $7.11 to $7.23. The company also reported a 6% increase in revenue and a nearly 5% rise in Property Operating Income compared to the previous year. During the quarter, Federal Realty executed 91 retail leases, reflecting robust leasing activity. The company remains cautious on acquisitions due to economic uncertainty but is open to stock buybacks if market conditions are favorable. Despite the positive earnings and revenue results, the company’s stock price remained stable in after-hours trading.
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