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Federal Realty’s earnings up for quarter

Federal Realty Investment Trust, of Rockville, a real estate investment trust specializing in the ownership, management and development of retail assets, reported improved funds from operations for the second quarter, which ended June 30. FFO was $83.6 million, or $1.23 per diluted share, compared with $71.1 million and $1.08 for the prior-year period. Net income also increased to $43.4 million and 64 cents per share from $37.4 million and 57 cents in last year’s quarter. FRIT issued an updated guidance for 2014 of up to $337 million for FFO and up to $185 million in profit.