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Federal Realty’s FFO up over last year

Federal Realty Investment Trust, of Rockville, an equity real estate investment trust specializing in the ownership, management, development and redevelopment of retail assets, reported funds from operations of $76.4 million, or $1.16 per diluted share, for the third quarter, ended Sept. 30.

This compares with FFO of $72.1 million, or $1.12 per diluted share, in the prior-year period, which benefited from an unusually large lease termination fee. FFO is the primary financial performance measure of a real estate investment trust.

Federal Realty’s net income for the quarter was $62.0 million, 94 cents per diluted share, versus $38.5 million and 60 cents for 2012’s third quarter.