Federal Realty Acquires $289M Kansas Retail Centers, Sells $143M California Assets

Federal Realty Investment Trust has actively enhanced its portfolio through strategic acquisitions and disposals to improve asset quality and support long-term growth. The company acquired two open-air retail centers in Leawood, Kansas—Town Center Plaza and Town Center Crossing—totaling 550,000 square feet for $289 million, located in a submarket with strong demographics and top-tier tenants like Trader Joe’s and Apple. Concurrently, Federal Realty sold non-core assets including its Hollywood Boulevard retail portfolio in Los Angeles for $69 million and a residential building in Santana Row for $74 million, while identifying $1 billion in potential dispositions. Development projects are underway, including a 258-unit residential project at Santana Row, a 45-unit building in Hoboken, NJ, and a 217-unit multifamily development in Bala Cynwyd, PA, all progressing on schedule. Analysts have responded positively, raising the price target slightly to $110 and maintaining an 'Outperform' rating, with average price targets indicating a potential upside of over 16% from current prices. GuruFocus projects an 18% upside in fair value, reflecting confidence in Federal Realty's capital deployment strategy and portfolio quality improvements.