false0000034903 0000034903 2020-03-25 2020-03-25 0000034903 frt:DepositorySharesMember 2020-03-25 2020-03-25 0000034903 frt:CommonSharesOfBeneficialInterestMember 2020-03-25 2020-03-25

Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 25, 2020
Federal Realty Investment Trust
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
of incorporation)
File Number)
(IRS Employer
Identification No.)
1626 East Jefferson Street,
(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
New York Stock Exchange
$.01 par value per share, with associated Common Share Purchase Rights
Depositary Shares, each representing 1/1000 of a share
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.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On March 20, 2020, Federal Realty Investment Trust (“Federal”) borrowed $890 million under the revolving credit facility described in that certain Amended and Restated Credit Agreement dated July 25, 2019 among Federal, Wells Fargo Bank, National Association, as administrative agent, and the other lenders party thereto (the “Credit Agreement”). After giving effect to such borrowing and other borrowings made under the Credit Agreement since January 1, 2020, Federal has now drawn almost the entirety of its $1 billion revolving credit facility under the Credit Agreement. Federal elected to draw on its revolver to further strengthen its financial position and balance sheet, to maximize its financial liquidity and to provide maximum financial flexibility to continue its business initiatives as the effects of the COVID-19 pandemic continue to evolve. The proceeds will be available to be used for working capital and general corporate purposes. For additional information on the terms and conditions of the Credit Agreement, see Federal’s Current Report on Form 8-K dated July 29, 2019, which includes a copy of the Credit Agreement as Exhibit 10.1.

Item 7.01. Regulation FD Disclosure.

Given the complex and rapidly evolving circumstances around the COVID-19 pandemic and the draw-down of its credit facility, Federal is withdrawing its 2020 guidance previously disclosed and is not providing an updated outlook at this time.

The information contained in this Item 7.01 is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of, or otherwise regarded as filed under, the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.


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.

March 25, 2020
 /s/ Dawn M. Becker
Dawn M. Becker
Executive Vice President-General Counsel and Secretary

Exhibit Number
Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document

Cover Page
Mar. 25, 2020
Entity Information [Line Items]  
Entity Address, Address Line One 1626 East Jefferson Street,
Entity Address, City or Town Rockville,
Entity Address, State or Province MD
Entity Address, Postal Zip Code 20852-4041
Entity Emerging Growth Company false
Pre-commencement Issuer Tender Offer false
Pre-commencement Tender Offer false
Soliciting Material false
Written Communications false
Entity Incorporation, State or Country Code MD
Document Type 8-K
Entity Central Index Key 0000034903
Amendment Flag false
Document Period End Date Mar. 25, 2020
Entity Registrant Name Federal Realty Investment Trust
Entity File Number 1-07533
Entity Tax Identification Number 52-0782497
City Area Code 301
Local Phone Number 998-8100
Common Shares Of Beneficial Interest  
Entity Information [Line Items]  
Title of 12(b) Security Common Shares of Beneficial Interest
Trading Symbol FRT
Security Exchange Name NYSE
Depository Shares  
Entity Information [Line Items]  
Title of 12(b) Security Depositary Shares, each representing 1/1000 of a share
Trading Symbol FRT-C
Security Exchange Name NYSE