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8-K/AThe WireStrategic

Results of Operations

Filed May 7, 2020 · 6y ago · Accession 0000034903-20-000024

Plain English

Material event — a significant development the company must disclose promptly.

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K/A (Amendment No. 1) CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) May 6, 2020   Federal Realty Investment Trust (Exact name of registrant as specified in its charter)   Maryland   1-07533   52-0782497 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)     1626 East Jefferson Street, Rockville, Maryland   20852-4041     (Address of principal executive offices)   (Zip Code)   Registrant's telephone number including area code: 301 / 998-8100   Title of Each Class Trading Symbol Name of Each Exchange On Which Registered Common Shares of Beneficial Interest FRT New York Stock Exchange $.01 par value per share, with associated Common Share Purchase Rights           Depositary Shares, each representing 1/1000 of a share FRT-C New York Stock Exchange of 5.00% Series C Cumulative Redeemable Preferred Stock, $.01 par value per share       Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ☐ Emerging growth company ☐ If an emerging growth company, indicate by checkmark if the registrant has elected not use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Explanatory Note This amendment No. 1 to the Current Report on Form 8-K amends Exhibit 99.1 furnished on May 6, 2020 solely to correct the row label in the "Year" column in the chart "Lease Expirations" on page 25. No other changes have been made to original Form 8-K. The information in the following chart replaces in its entirety the comparable chart in the exhibit furnished on May 6, 2020. Item 2.02.      Results of Operations and Financial Condition Lease Expirations March 31, 2020                         Assumes no exercise of lease options                                           Anchor Tenants (1)   Small Shop Tenants   Total Year  Expiring SF  % of Anchor SF  Minimum Rent PSF (2)    Expiring SF  % of Small Shop SF  Minimum Rent PSF (2)    Expiring SF (4)  % of Total SF  Minimum Rent PSF (2) 2020 595,000 4 % $ 17.52   537,000 8 % $ 35.96   1,131,000 5 % $ 26.27 2021 1,419,000 10 % $ 19.86   844,000 12 % $ 44.53   2,264,000 10 % $ 29.07 2022 1,970,000 13 % $ 17.92   974,000 14 % $ 43.70   2,944,000 13 % $ 26.45 2023 1,524,000 10 % $ 21.58   903,000 13 % $ 46.25   2,427,000 11 % $ 30.76 2024 2,403,000 16 % $ 18.48   915,000 13 % $ 46.54   3,318,000 15 % $ 26.21 2025 1,517,000 10 % $ 21.64   779,000 11 % $ 43.03   2,296,000 10 % $ 28.89 2026 813,000 5 % $ 21.87   427,000 6 % $ 50.21   1,241,000 6 % $ 31.64 2027 832,000 6 % $ 34.40   483,000 7 % $ 47.67   1,315,000 6 % $ 39.28 2028 791,000 5 % $ 22.94   412,000 6 % $ 53.28   1,203,000 6 % $ 33.34 2029 932,000 6 % $ 25.54   389,000 5 % $ 45.76   1,321,000 6 % $ 31.49 Thereafter 2,252,000 15 % $ 25.54   353,000 5 % $ 46.47   2,604,000 12 % $ 28.37 Total (3) 15,048,000 100 % $ 21.92   7,016,000 100 % $ 45.32   22,064,000 100 % $ 29.36                         Assumes all lease options are exercised                                           Anchor Tenants (1)   Small Shop Tenants   Total Year  Expiring SF  % of Anchor SF  Minimum Rent PSF (2)    Expiring SF  % of Small Shop SF  Minimum Rent PSF (2)    Expiring SF (4)  % of Total SF  Minimum Rent PSF (2) 2020 351,000 2 % $ 20.09   508,000 7 % $ 35.59   859,000 4 % $ 29.26 2021 369,000 2 % $ 14.84   534,000 8 % $ 46.79   903,000 4 % $ 33.72 2022 254,000 2 % $ 22.42   583,000 8 % $ 43.02   837,000 4 % $ 36.77 2023 386,000 3 % $ 24.28   563,000 8 % $ 42.51   949,000 4 % $ 35.10 2024 581,000 4 % $ 22.78   456,000 6 % $ 45.68   1,036,000 5 % $ 32.85 2025 334,000 2 % $ 21.79   420,000 6 % $ 43.20   754,000 3 % $ 33.71 2026 537,000 4 % $ 23.51   354,000 5 % $ 46.88   891,000 4 % $ 32.80 2027 744,000 5 % $ 21.98   466,000 7 % $ 46.63   1,211,000 6 % $ 31.47 2028 626,000 4 % $ 18.64   414,000 6 % $ 49.87   1,040,000 5 % $ 31.07 2029 795,000 5 % $ 22.26   367,000 5 % $ 44.12   1,162,000 5 % $ 29.16 Thereafter 10,071,000 67 % $ 22.19   2,351,000 34 % $ 47.53   12,422,000 56 % $ 26.98 Total (3) 15,048,000 100 % $ 21.92   7,016,000 100 % $ 45.32   22,064,000 100 % $ 29.36 Notes:   (1) Anchor is defined as a commercial tenant leasing 10,000 square feet or more. (2) Minimum Rent reflects in-place contractual (defined as cash-basis excluding rent abatements) rent as of March 31, 2020. (3) Represents occupied square footage of the commercial portion of our portfolio as of March 31, 2020. (4) Individual items may not add up to total due to rounding. The foregoing information is being furnished under Item 2.02- Results of Operations and Financial Condition. This information shall not be deemed "filed" for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchnage Act"), or otherwise subject to the liabilities of that Section. The information in this Current Report on Form 8-K shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or under the Exchange Act, regardless of any general incorporation language in such filing.      SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.       FEDERAL REALTY INVESTMENT TRUST         Date: May 7, 2020     /s/ Daniel Guglielmone               Daniel Guglielmone       Executive Vice President-       Chief Financial Officer and Treasurer EXHIBIT INDEX                          Exhibit Number   Description 104   Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL Document
Filing details
Ticker
FRT
CIK
34903
Form type
8-K/A
Filing date
May 7, 2020
Report date
May 6, 2020
Document
frt-03312020x8kadoc.htm
Size
388 KB