0000034903-23-000054 | 10-Q | XBRL Viewer | Federal Realty Investment Trust

Fair Value of Financial Instruments - Summary of Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Mortgages payable and notes payable \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair value of long-term debt	$ 952,303	$ 921,692
Mortgages payable and notes payable \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair value of long-term debt	924,891	895,654
Senior notes and debentures \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair value of long-term debt	3,479,333	3,407,701
Senior notes and debentures \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Fair value of long-term debt	$ 3,103,590	$ 3,048,456

Fair Value Of Financial Instruments

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

FAIR VALUE OF FINANCIAL INSTRUMENTSExcept as disclosed below, the carrying amount of our financial instruments approximates their fair value. The fair value of our mortgages payable, notes payable and senior notes and debentures is sensitive to fluctuations in interest rates. Quoted market prices (Level 1) were used to estimate the fair value of our marketable senior notes and debentures and discounted cash flow analysis (Level 2) is generally used to estimate the fair value of our mortgages and notes payable. Considerable judgment is necessary to estimate the fair value of financial instruments. The estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized upon disposition of the financial instruments. A summary of the carrying amount and fair value of our mortgages payable, notes payable and senior notes and debentures is as follows:


	June 30, 2023				December 31, 2022
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
Mortgages and notes payable, net	$	952,303	$	924,891	$	921,692	$	895,654
Senior notes and debentures, net	$	3,479,333	$	3,103,590	$	3,407,701	$	3,048,456

As of June 30, 2023, we have two interest rate swap agreements with notional amounts of $54.3 million that are measured at fair value on a recurring basis. The interest rate swap agreements fix the interest rate on $54.3 million of mortgage payables at 3.67% through December 15, 2029. The fair values of the interest rate swap agreements are based on the estimated amounts we would receive or pay to terminate the contracts at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs. The fair value of our swaps at June 30, 2023 was an asset of $6.0 million and is included in "prepaid expenses and other assets" on our consolidated balance sheets. For the three and six months ended June 30, 2023, the value of our interest rate swaps increased $1.1 million and decreased $0.1 million, respectively (including $0.4 million and $0.8 million, respectively, reclassified from other comprehensive income as a decrease to interest expense). A summary of our financial assets that are measured at fair value on a recurring basis, by level within the fair value hierarchy is as follows:


	June 30, 2023								December 31, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(In thousands)
Interest rate swaps	$	—	$	6,015	$	—	$	6,015	$	—	$	6,144	$	—	$	6,144

One of our equity method investees has two interest rate swaps which qualify for cash flow hedge accounting. For the three and six months ended June 30, 2023, our share of the change in fair value of the related swaps included in "accumulated other comprehensive income" was a decrease of less than $0.1 million and $0.1 million, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
OPERATING ACTIVITIES
Net income	$ 120,735	$ 119,195
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	157,611	146,135
Gain on sale of real estate	(1,702)	0
Income from partnerships	(2,181)	(3,005)
Straight-line rent	(5,021)	(9,832)
Share-based compensation expense	7,445	7,020
Other, net	(2,611)	(2,449)
Changes in assets and liabilities, net of effects of acquisitions and dispositions:
Decrease (increase) in accounts receivable, net	3,018	(10,252)
Decrease in prepaid expenses and other assets	13,505	18,115
Decrease in accounts payable and accrued expenses	(1,431)	(5,578)
Increase in security deposits and other liabilities	2,908	1,172
Net cash provided by operating activities	292,276	260,521
INVESTING ACTIVITIES
Acquisition of real estate	(59,568)	(100,022)
Capital expenditures - development and redevelopment	(104,666)	(150,524)
Capital expenditures - other	(50,913)	(44,024)
Proceeds from sale of real estate	12,626	874
Investment in partnerships	0	(417)
Distribution from partnerships in excess of earnings	7,569	3,665
Leasing costs	(9,247)	(9,629)
Repayment of mortgage and other notes receivable, net	0	18
Net cash used in investing activities	(204,199)	(300,059)
FINANCING ACTIVITIES
Net borrowings under revolving credit facility	31,500	0
Issuance of senior notes, net of costs	345,685	0
Repayment of senior notes	(275,000)	0
Repayment of mortgages, finance leases, and notes payable	(1,636)	(17,798)
Issuance of common shares, net of costs	6,246	259,597
Dividends paid to common and preferred shareholders	(179,043)	(171,450)
Shares withheld for employee taxes	(4,711)	(4,638)
Contributions from noncontrolling interests	927	0
Distributions to and redemptions of redeemable noncontrolling interests	(5,637)	(6,779)
Net cash (used in) provided by financing activities	(81,669)	58,932
Increase in cash, cash equivalents and restricted cash	6,408	19,394
Cash, cash equivalents, and restricted cash at beginning of year	96,348	175,163
Cash, cash equivalents, and restricted cash at end of period	102,756	194,557
Federal Realty OP LP
OPERATING ACTIVITIES
Net income	120,735	119,195
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	157,611	146,135
Gain on sale of real estate	(1,702)	0
Income from partnerships	(2,181)	(3,005)
Straight-line rent	(5,021)	(9,832)
Share-based compensation expense	7,445	7,020
Other, net	(2,611)	(2,449)
Changes in assets and liabilities, net of effects of acquisitions and dispositions:
Decrease (increase) in accounts receivable, net	3,018	(10,252)
Decrease in prepaid expenses and other assets	13,505	18,115
Decrease in accounts payable and accrued expenses	(1,431)	(5,578)
Increase in security deposits and other liabilities	2,908	1,172
Net cash provided by operating activities	292,276	260,521
INVESTING ACTIVITIES
Acquisition of real estate	(59,568)	(100,022)
Capital expenditures - development and redevelopment	(104,666)	(150,524)
Capital expenditures - other	(50,913)	(44,024)
Proceeds from sale of real estate	12,626	874
Investment in partnerships	0	(417)
Distribution from partnerships in excess of earnings	7,569	3,665
Leasing costs	(9,247)	(9,629)
Repayment of mortgage and other notes receivable, net	0	18
Net cash used in investing activities	(204,199)	(300,059)
FINANCING ACTIVITIES
Net borrowings under revolving credit facility	31,500	0
Issuance of senior notes, net of costs	345,685	0
Repayment of senior notes	(275,000)	0
Repayment of mortgages, finance leases, and notes payable	(1,636)	(17,798)
Issuance of common shares, net of costs	6,246	259,597
Dividends paid to common and preferred shareholders	(179,043)	(171,450)
Shares withheld for employee taxes	(4,711)	(4,638)
Contributions from noncontrolling interests	927	0
Distributions to and redemptions of redeemable noncontrolling interests	(5,637)	(6,779)
Net cash (used in) provided by financing activities	(81,669)	58,932
Increase in cash, cash equivalents and restricted cash	6,408	19,394
Cash, cash equivalents, and restricted cash at beginning of year	96,348	175,163
Cash, cash equivalents, and restricted cash at end of period	$ 102,756	$ 194,557

Fair Value Of Financial Instruments (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023 USD ($) agreement	Jun. 30, 2023 USD ($) agreement	Dec. 31, 2022 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative Asset	$ 6,000	$ 6,000
Amount reclassified from other comprehensive income to interest expense	(400)	(800)
Accumulated other comprehensive income \| One of our equity method investees
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Other comprehensive income	(100)	(100)
Fair Value, recurring \| Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative Asset	$ 6,015	$ 6,015	$ 6,144
Fair Value, recurring \| Interest rate swap \| One of our equity method investees
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Number of interest rate swap agreements \| agreement	2	2
Mortgage payable \| Hoboken
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Number of interest rate swap agreements \| agreement	2	2
Notional amount of derivative	$ 54,300	$ 54,300
Fixed interest rate on derivative	3.67%	3.67%
Other comprehensive income	$ 1,100	$ (100)
Secured Debt \| Hoboken
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Mortgage payable	54,300	54,300
Fair Value, Inputs, Level 1 \| Fair Value, recurring \| Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative Asset	0	0	0
Fair Value, Inputs, Level 2 \| Fair Value, recurring \| Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative Asset	6,015	6,015	6,144
Fair Value, Inputs, Level 3 \| Fair Value, recurring \| Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative Asset	$ 0	$ 0	$ 0

Earnings Per Share And Unit (Details) - shares	3 Months Ended		6 Months Ended		12 Months Ended
Earnings Per Share And Unit (Details) - shares	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Weighted average unvested shares outstanding	300,000	300,000	300,000	300,000
Federal Realty OP LP
Weighted average unvested units outstanding	300,000	300,000	300,000	300,000
5.417% Series 1 Cumulative Convertible Preferred Shares
Preferred shares, percentage	5.417%	5.417%	5.417%	5.417%	5.417%
5.417% Series 1 Cumulative Convertible Preferred Units
Preferred units, percentage	5.417%	5.417%	5.417%	5.417%
Stock Options
Anti-dilutive issuable shares	1,829		1,829
Stock Options \| Federal Realty OP LP
Anti-dilutive issuable units	1,829		1,829
Forward Sales Contracts
Anti-dilutive issuable shares		1,500,000		700,000
Forward Sales Contracts \| Federal Realty OP LP
Anti-dilutive issuable units		1,500,000		700,000
Unvested restricted stock units
Anti-dilutive issuable shares	10,441	10,441	10,441	10,441
Unvested restricted stock units \| Federal Realty OP LP
Anti-dilutive issuable units	10,441	10,441	10,441	10,441

Shareholders' Equity

6 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [Abstract]

SHAREHOLDERS’ EQUITY

The following table provides a summary of dividends declared and paid per share:


	Six Months Ended June 30,
	2023				2022
	Declared		Paid		Declared		Paid
Common shares	$	2.160	$	2.160	$	2.140	$	2.140
5.417% Series 1 Cumulative Convertible Preferred shares	$	0.677	$	0.677	$	0.677	$	0.677
5.0% Series C Cumulative Redeemable Preferred shares (1)	$	0.625	$	0.625	$	0.625	$	0.625

(1)Amount represents dividends per depository share, each representing 1/1000th of a share.

We have an at-the-market ("ATM") equity program under which we may from time to time offer and sell common shares having an aggregate offering price of up to $500.0 million. The ATM equity program also allows shares to be sold through forward sales contracts. We intend to use the net proceeds to fund potential acquisition opportunities, fund our development and redevelopment pipeline, repay indebtedness and/or for general corporate purposes.

No common shares were sold under the ATM equity program in the three months ended June 30, 2023. For the six months ended June 30, 2023, we issued 57,034 common shares at a weighted average price per share of $111.64 for net cash proceeds of $6.2 million including paying $0.1 million in commissions and $0.1 million in additional offering expenses related to the sales of these common shares. We have the remaining capacity to issue up to $445.6 million in common shares under our ATM equity program as of June 30, 2023.

Effective May 4, 2023, our Declaration of Trust was amended to increase the number of authorized common shares of beneficial interest to 200,000,000.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [Abstract]

Summary of dividends declared and paid per share

The following table provides a summary of dividends declared and paid per share:


	Six Months Ended June 30,
	2023				2022
	Declared		Paid		Declared		Paid
Common shares	$	2.160	$	2.160	$	2.140	$	2.140
5.417% Series 1 Cumulative Convertible Preferred shares	$	0.677	$	0.677	$	0.677	$	0.677
5.0% Series C Cumulative Redeemable Preferred shares (1)	$	0.625	$	0.625	$	0.625	$	0.625

(1)Amount represents dividends per depository share, each representing 1/1000th of a share.

Summary Of Significant Accounting Policies

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The accompanying unaudited interim consolidated financial statements of the Parent Company and Operating Partnership have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to those rules and regulations, although we believe that the disclosures made are adequate to make the information not misleading. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in our latest Annual Report on Form 10-K. In the opinion of management, all adjustments (consisting of normal, recurring adjustments) necessary for a fair presentation for the periods presented have been included. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the full year.

Principles of Consolidation

As discussed in the Explanatory Note, we have combined the quarterly reports on Form 10-Q of the Parent Company and the Operating Partnership into this single report. As a result, we present two sets of consolidated financial statements. Both sets of consolidated financial statements include the accounts of the entity, its corporate subsidiaries, and all entities in which it has a controlling interest or has been determined to be the primary beneficiary of a variable interest entity. The Parent Company's consolidated financial statements include the accounts of the Operating Partnership and its subsidiaries as the Parent Company, through its ownership and control over the General Partner, exercises exclusive control over the Operating Partnership. The equity interests of other investors are reflected as noncontrolling interests or redeemable noncontrolling interests. All significant intercompany transactions and balances are eliminated in consolidation. We account for our interests in joint ventures which we do not control using the equity method of accounting.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, referred to as “GAAP,” requires management to make estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using management’s best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates.

Recently Issued Accounting Pronouncements

Standard

Description

Effect on the financial statements or significant matters

ASU 2023-01, March 2023, Leases (Topic 842) Common Control Arrangements

This ASU requires all lessees in a lease with a lessor under common control to (1) amortize leasehold improvements over their useful life to the common control group, as long as the lessee controls the use of the underlying asset through a lease and (2) account for the leasehold improvements as a transfer of assets between entities under common control through an adjustment to equity when the lessee no longer controls the use of the underlying asset.

The guidance may be applied prospectively to new and existing leasehold improvements, with the remaining balance of existing leasehold improvements amortized over their remaining useful life to the common control group or retrospectively, through a cumulative-effect adjustment to opening retained earnings.

The guidance is effective in fiscal years beginning after December 15, 2023, and interim periods withing those fiscal years. Early adoption is permitted.

We do not expect this ASU to have an impact on our consolidated financial statements.

ASU 2020-04, March 2020, Reference Rate Reform (Topic 848)

This ASU provides companies with optional practical expedients to ease the accounting burden for contract modifications associated with transitioning away from LIBOR and other interbank offered rates that are expected to be discontinued as part of reference rate reform. For hedges, the guidance generally allows changes to the reference rate and other critical terms without having to de-designate the hedging relationship, as well as allows the shortcut method to continue to be applied. For contract modifications, changes in the reference rate or other critical terms will be treated as a continuation of the prior contract.

ASU 2022-06 extended the period for which this guidance can be immediately applied through December 24, 2024.

During the three months ended June 30, 2023, the LIBOR based mortgage loan related to our unconsolidated Assembly Row hotel investment was refinanced. The resulting new mortgage loan and related swaps are SOFR based. The $54.3 million mortgage loan at Hoboken and related interest rate swaps were transitioned from LIBOR to SOFR effective July 1, 2023. Consequently, we applied the related practical expedients to the hedging relationship for the Hoboken loan and continue to apply hedge accounting. The critical terms of the loan and interest rate swaps continue to match subsequent to the transition from LIBOR to SOFR and the transition did not have a significant impact to our financial results, financial position, or cash flows.

Consolidated Statements of Cash Flows—Supplemental Disclosures

The following tables provide supplemental disclosures related to the Consolidated Statements of Cash Flows:


	Six Months Ended
	June 30,
	2023		2022
	(In thousands)
SUPPLEMENTAL DISCLOSURES:
Total interest costs incurred	$	93,256	$	72,824
Interest capitalized	(11,147)		(9,177)
Interest expense	$	82,109	$	63,647
Cash paid for interest, net of amounts capitalized	$	75,389	$	61,973
Cash paid for income taxes	$	779	$	607
NON-CASH INVESTING AND FINANCING TRANSACTIONS:





Shares issued under dividend reinvestment plan	$	851	$	866
DownREIT operating partnership units redeemed for common shares	$	668	$	1,385
5.417% Series 1 Cumulative Convertible Preferred Shares redeemed for common shares	$	—	$	175


	June 30,		December 31,
	2023		2022
	(In thousands)
RECONCILIATION OF CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:
Cash and cash equivalents	$	98,064	$	85,558
Restricted cash (1)	4,692		10,790
Total cash, cash equivalents, and restricted cash	$	102,756	$	96,348

(1)Restricted cash balances are included in "prepaid expenses and other assets" on our consolidated balance sheets.

Business And Organization	6 Months Ended
Business And Organization	Jun. 30, 2023
Nature Of Operations [Abstract]
BUSINESS AND ORGANIZATION	BUSINESS AND ORGANIZATION Federal Realty Investment Trust (the "Parent Company" and the “Trust”) is an equity real estate investment trust (“REIT”). Federal Realty OP LP (the "Operating Partnership") is the entity through which the Parent Company conducts substantially all of its operations and owns all of its assets. The Parent Company owns 100% of the limited liability company interests of, is sole member of and exercises exclusive control over Federal Realty GP LLC ("the General Partner"), which in turn, is the sole general partner of the Operating Partnership. The Parent Company specializes in the ownership, management, and redevelopment of retail and mixed-use properties through the Operating Partnership, and has no other substantial assets or liabilities other than through its investment in the Operating Partnership. Our properties are located primarily in communities where we believe retail demand exceeds supply, in strategically selected metropolitan markets in the Mid-Atlantic and Northeast regions of the United States, California, and South Florida. As of June 30, 2023, we owned or had a majority interest in community and neighborhood shopping centers and mixed-use properties which are operated as 102 predominantly retail real estate projects. We operate in a manner intended to enable the Trust to qualify as a REIT for federal income tax purposes. A REIT that distributes at least 90% of its taxable income to its shareholders each year and meets certain other conditions is not taxed on that portion of its taxable income which is distributed to its shareholders. Therefore, federal income taxes on our taxable income have been and are generally expected to be immaterial. We are obligated to pay state taxes, generally consisting of franchise or gross receipts taxes in certain states. Such state taxes also have not been material.

Real Estate (Significant Acquisition and Disposition) (Details) $ in Thousands			3 Months Ended		6 Months Ended
	May 26, 2023 USD ($)	Jan. 31, 2023 USD ($) ft²	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Significant Acquisition and Disposition
Gain on sale of real estate			$ 0	$ 0	$ 1,702	$ 0
Escondido Promenade \| TIC Interest
Significant Acquisition and Disposition
Ownership interest of partner	22.30%
Our ownership interest subsequent to acquisition	100.00%
Other Liabilities \| Escondido Promenade
Significant Acquisition and Disposition
Below market leases	$ 1,100
a portion of Huntington Square shopping center
Significant Acquisition and Disposition
Square footage of real estate property \| ft²		168,000
Purchase price of real estate acquisition		$ 35,500
Operating lease right of use assets, net decrease		5,300
a portion of Huntington Square shopping center \| Other Assets \| Acquired lease costs
Significant Acquisition and Disposition
Acquired lease costs		4,100
a portion of Huntington Square shopping center \| Other Assets \| Above market leases
Significant Acquisition and Disposition
Above market leases		$ 1,300
Huntington Square shopping center
Significant Acquisition and Disposition
Square footage of real estate property \| ft²		243,000
Escondido Promenade
Significant Acquisition and Disposition
Purchase price of real estate acquisition	30,500
Escondido Promenade \| Other Assets \| Acquired lease costs
Significant Acquisition and Disposition
Acquired lease costs	1,800
Escondido Promenade \| Other Assets \| Above market leases
Significant Acquisition and Disposition
Above market leases	$ 200
One retail property
Significant Acquisition and Disposition
Sales price of real estate					13,200
Gain on sale of real estate					$ 1,600

Consolidated Statements of Capital - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Consolidated Statements of Capital - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Increase (Decrease) in Partners' Capital [Roll Forward]
Net Income, excluding amounts attributable to redeemable noncontrolling Interests	$ 61,453	$ 62,675	$ 117,516	$ 115,668
Other comprehensive income (loss) - change in fair value of interest rate swaps, excluding portion attributable to redeemable noncontrolling interests	950	2,025	(261)	5,597
Contributions from noncontrolling interests	927		927
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Partners' Capital [Roll Forward]
Other comprehensive income (loss) - change in fair value of interest rate swaps, excluding portion attributable to redeemable noncontrolling interests	950	2,025	(261)	5,597
Federal Realty OP LP
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	3,004,241	2,714,577	3,034,015	2,663,148
Net Income, excluding amounts attributable to redeemable noncontrolling Interests	61,453	62,675	117,516	115,668
Other comprehensive income (loss) - change in fair value of interest rate swaps, excluding portion attributable to redeemable noncontrolling interests	950	2,025	(261)	5,597
Distributions declared to common unit holders	(88,031)	(84,977)	(176,064)	(169,173)
Distributions declared to preferred unit holders	(2,008)	(2,008)	(4,016)	(4,018)
Distributions declared to noncontrolling interests in consolidated partnerships, excluding amounts attributable to redeemable noncontrolling interests	(1,154)	(866)	(2,202)	(2,625)
Common units issued as a result of common stock issued by Parent Company, net of issuance costs	(59)	176,703	6,192	259,452
Common units issued under dividend reinvestment plan	482	509	905	1,011
Share-based compensation expense, net of forfeitures	3,696	3,500	8,130	7,679
Common units withheld for employee taxes	(66)	(37)	(4,711)	(4,638)
Conversion of preferred units		0		0
Contributions from noncontrolling interests	927		927
Adjustment to redeemable noncontrolling interests		4,326		4,326
Ending balance	2,980,431	2,876,427	2,980,431	2,876,427
Federal Realty OP LP \| Preferred Units
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	154,788	154,963	154,788	154,963
Net Income, excluding amounts attributable to redeemable noncontrolling Interests	2,008	2,008	4,016	4,018
Distributions declared to preferred unit holders	(2,008)	(2,008)	(4,016)	(4,018)
Conversion of preferred units		(175)		(175)
Ending balance	154,788	154,788	154,788	154,788
Federal Realty OP LP \| Common Units
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	2,765,892	2,477,270	2,793,467	2,427,686
Net Income, excluding amounts attributable to redeemable noncontrolling Interests	58,491	59,668	111,818	109,642
Distributions declared to common unit holders	(88,031)	(84,977)	(176,064)	(169,173)
Common units issued as a result of common stock issued by Parent Company, net of issuance costs	(59)	176,703	6,192	259,452
Common units issued under dividend reinvestment plan	482	509	905	1,011
Share-based compensation expense, net of forfeitures	3,696	3,500	8,130	7,679
Common units withheld for employee taxes	(66)	(37)	(4,711)	(4,638)
Conversion of preferred units		175		175
Adjustment to redeemable noncontrolling interests		4,326		4,326
Ending balance	2,740,405	2,637,545	2,740,405	2,637,545
Federal Realty OP LP \| Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	4,546	1,525	5,757	(2,047)
Other comprehensive income (loss) - change in fair value of interest rate swaps, excluding portion attributable to redeemable noncontrolling interests	950	2,025	(261)	5,597
Ending balance	5,496	3,550	5,496	3,550
Federal Realty OP LP \| Total Partner Capital
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	2,925,226	2,633,758	2,954,012	2,580,602
Net Income, excluding amounts attributable to redeemable noncontrolling Interests	60,499	61,676	115,834	113,660
Other comprehensive income (loss) - change in fair value of interest rate swaps, excluding portion attributable to redeemable noncontrolling interests	950	2,025	(261)	5,597
Distributions declared to common unit holders	(88,031)	(84,977)	(176,064)	(169,173)
Distributions declared to preferred unit holders	(2,008)	(2,008)	(4,016)	(4,018)
Common units issued as a result of common stock issued by Parent Company, net of issuance costs	(59)	176,703	6,192	259,452
Common units issued under dividend reinvestment plan	482	509	905	1,011
Share-based compensation expense, net of forfeitures	3,696	3,500	8,130	7,679
Common units withheld for employee taxes	(66)	(37)	(4,711)	(4,638)
Adjustment to redeemable noncontrolling interests		4,326		4,326
Ending balance	2,900,689	2,795,883	2,900,689	2,795,883
Federal Realty OP LP \| Noncontrolling Interests in Consolidated Partnerships
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance	79,015	80,819	80,003	82,546
Net Income, excluding amounts attributable to redeemable noncontrolling Interests	954	999	1,682	2,008
Distributions declared to noncontrolling interests in consolidated partnerships, excluding amounts attributable to redeemable noncontrolling interests	(1,154)	(866)	(2,202)	(2,625)
Contributions from noncontrolling interests	927		927
Ending balance	$ 79,742	80,544	79,742	80,544
Federal Realty OP LP \| downREIT OP units
Increase (Decrease) in Partners' Capital [Roll Forward]
Conversion and redemption of downREIT OP units		0	0	0
Federal Realty OP LP \| downREIT OP units \| Common Units
Increase (Decrease) in Partners' Capital [Roll Forward]
Conversion and redemption of downREIT OP units		408	668	1,385
Federal Realty OP LP \| downREIT OP units \| Total Partner Capital
Increase (Decrease) in Partners' Capital [Roll Forward]
Conversion and redemption of downREIT OP units		408	668	1,385
Federal Realty OP LP \| downREIT OP units \| Noncontrolling Interests in Consolidated Partnerships
Increase (Decrease) in Partners' Capital [Roll Forward]
Conversion and redemption of downREIT OP units		$ (408)	$ (668)	$ (1,385)

Consolidated Statement Of Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Net income attributable to redeemable noncontrolling interests	$ 1,551	$ 1,792	$ 3,219	$ 3,527
Other comprehensive income (loss) attributable to redeemable noncontrolling interests	$ 112	$ 197	$ (13)	$ 541
Dividends declared to common shareholders (in dollars per share)	$ 1.08	$ 1.07	$ 2.16	$ 2.14
Distributions declared to redeemable noncontrolling interests	$ 1,867	$ 2,394	$ 3,427	$ 4,138

Earnings Per Share And Unit

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE AND UNIT

We have calculated earnings per share (“EPS”) and earnings per unit ("EPU") under the two-class method. The two-class method is an earnings allocation methodology whereby EPS and EPU for each class of common stock and partnership units, respectively, and participating securities is calculated according to dividends or distributions declared and participation rights in undistributed earnings. For both the three and six months ended June 30, 2023 and 2022, we had 0.3 million weighted average unvested shares and units outstanding, which are considered participating securities. Therefore, we have allocated our earnings for basic and diluted EPS and EPU between common shares and units and unvested shares and units; the portion of earnings allocated to the unvested shares and units is reflected as “earnings allocated to unvested shares” or "earnings allocated to unvested units" in the reconciliations below.

The following potentially issuable shares were excluded from the diluted EPS and EPU calculations because their impact is anti-dilutive:

•exercise of 1,829 stock options for the three and six months ended June 30, 2023,

•conversions of downREIT operating partnership units for both the three and six months ended June 30, 2023 and 2022,

•conversions of 5.417% Series 1 Cumulative Convertible Preferred Shares and units for both the three and six months ended June 30, 2023 and 2022, and

•the issuance of 1.5 million and 0.7 million shares and units issuable under common share forward sales agreements for the three and six months ended June 30, 2022, respectively.

Additionally, 10,441 unvested restricted stock units are excluded from the diluted EPS and EPU calculations as the market based performance criteria in the awards has not yet been achieved.

Federal Realty Investment Trust Earnings per Share


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
	(In thousands, except per share data)
NUMERATOR
Net income	$	63,004	$	64,467	$	120,735	$	119,195
Less: Preferred share dividends	(2,008)		(2,008)		(4,016)		(4,018)
Less: Income from operations attributable to noncontrolling interests	(2,505)		(2,791)		(4,901)		(5,535)
Less: Earnings allocated to unvested shares	(324)		(300)		(651)		(607)



Net income available for common shareholders, basic and diluted	$	58,167	$	59,368	$	111,167	$	109,035
DENOMINATOR
Weighted average common shares outstanding, basic	81,214		79,202		81,178		78,826
Effect of dilutive securities:

Open forward contracts for share issuances	—		—		—		29


Weighted average common shares outstanding, diluted	81,214		79,202		81,178		78,855

EARNINGS PER COMMON SHARE, BASIC AND DILUTED:
Net income available for common shareholders	$	0.72	$	0.75	$	1.37	$	1.38

Federal Realty OP LP Earnings per Unit


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
	(In thousands, except per unit data)
NUMERATOR
Net income	$	63,004	$	64,467	$	120,735	$	119,195
Less: Preferred unit distributions	(2,008)		(2,008)		(4,016)		(4,018)
Less: Income from operations attributable to noncontrolling interests	(2,505)		(2,791)		(4,901)		(5,535)
Less: Earnings allocated to unvested units	(324)		(300)		(651)		(607)



Net income available for common unit holders, basic and diluted	$	58,167	$	59,368	$	111,167	$	109,035
DENOMINATOR
Weighted average common units outstanding, basic	81,214		79,202		81,178		78,826
Effect of dilutive securities:

Common unit issuances relating to open common share forward contracts	—		—		—		29


Weighted average common units outstanding, diluted	81,214		79,202		81,178		78,855

EARNINGS PER COMMON UNIT, BASIC AND DILUTED:
Net income available for common unit holders	$	0.72	$	0.75	$	1.37	$	1.38

Share-Based Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Summary of share-based compensation expense included in net income

A summary of share-based compensation expense included in net income is as follows:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
	(In thousands)
Grants of common shares, restricted stock units, and options	$	3,696	$	3,500	$	8,130	$	7,679


Capitalized share-based compensation	(348)		(300)		(685)		(659)
Share-based compensation expense	$	3,348	$	3,200	$	7,445	$	7,020

Real Estate	6 Months Ended
Real Estate	Jun. 30, 2023
Real Estate [Abstract]
Real Estate Disclosure	REAL ESTATE On January 31, 2023, we acquired the 168,000 square foot portion of Huntington Square shopping center that was not previously owned, as well as the fee interest in the land underneath the portion of the shopping center which we controlled under a long-term ground lease for $35.5 million. As a result of this transaction, we now own the entire fee interest in this 243,000 square foot property and the "operating lease right of use assets, net" on our consolidated balance sheet decreased by $5.3 million. Approximately $4.1 million and $1.3 million of net assets acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively. On May 26, 2023, we exercised our option and acquired the 22.3% tenancy in common ("TIC") interest from our co-owner at Escondido Promenade for $30.5 million, bringing our ownership interest to 100%. As a result of the transaction, we gained control of this property, and effective May 26, 2023, we have consolidated this property. Approximately $1.8 million and $0.2 million of net assets associated with the 22.3% interest acquired were allocated to other assets for "acquired lease costs" and "above market leases," respectively, and $1.1 million of net assets associated with the 22.3% interest acquired were allocated to other liabilities for "below market leases." During the six months ended June 30, 2023, we sold one retail property for $13.2 million, resulting in a gain on sale of $1.6 million.

Consolidated Statements Of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
REVENUE
Rental income	$ 280,388	$ 263,830	$ 553,186	$ 520,337
Mortgage interest income	291	269	552	533
Total revenue	280,679	264,099	553,738	520,870
EXPENSES
Rental expenses	55,610	51,169	110,815	107,380
Real estate taxes	32,381	31,265	64,947	61,825
General and administrative	11,913	13,604	24,458	25,946
Depreciation and amortization	78,974	74,461	157,611	146,135
Total operating expenses	178,878	170,499	357,831	341,286
Gain on sale of real estate	0	0	1,702	0
OPERATING INCOME	101,801	93,600	197,609	179,584
OTHER INCOME/(EXPENSE)
Other interest income	2,422	133	3,054	253
Interest expense	(42,884)	(32,074)	(82,109)	(63,647)
Income from partnerships	1,665	2,808	2,181	3,005
NET INCOME	63,004	64,467	120,735	119,195
Net income attributable to noncontrolling interests	(2,505)	(2,791)	(4,901)	(5,535)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP	60,499	61,676	115,834	113,660
Dividends on preferred shares	(2,008)	(2,008)	(4,016)	(4,018)
NET INCOME AVAILABLE FOR COMMON SHAREHOLDERS	$ 58,491	$ 59,668	$ 111,818	$ 109,642
EARNINGS PER COMMON SHARE, BASIC:
Net income available for common shareholders	$ 0.72	$ 0.75	$ 1.37	$ 1.38
Weighted average number of common shares	81,214	79,202	81,178	78,826
EARNINGS PER COMMON SHARE, DILUTED:
Net income available for common shareholders	$ 0.72	$ 0.75	$ 1.37	$ 1.38
Weighted average number of common shares	81,214	79,202	81,178	78,855
COMPREHENSIVE INCOME
COMPREHENSIVE INCOME	$ 64,066	$ 66,689	$ 120,461	$ 125,333
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP	61,449	63,701	115,573	119,257
Federal Realty OP LP
REVENUE
Rental income	280,388	263,830	553,186	520,337
Mortgage interest income	291	269	552	533
Total revenue	280,679	264,099	553,738	520,870
EXPENSES
Rental expenses	55,610	51,169	110,815	107,380
Real estate taxes	32,381	31,265	64,947	61,825
General and administrative	11,913	13,604	24,458	25,946
Depreciation and amortization	78,974	74,461	157,611	146,135
Total operating expenses	178,878	170,499	357,831	341,286
Gain on sale of real estate	0	0	1,702	0
OPERATING INCOME	101,801	93,600	197,609	179,584
OTHER INCOME/(EXPENSE)
Other interest income	2,422	133	3,054	253
Interest expense	(42,884)	(32,074)	(82,109)	(63,647)
Income from partnerships	1,665	2,808	2,181	3,005
NET INCOME	63,004	64,467	120,735	119,195
Net income attributable to noncontrolling interests	(2,505)	(2,791)	(4,901)	(5,535)
NET INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP	60,499	61,676	115,834	113,660
Distributions declared to preferred unit holders	(2,008)	(2,008)	(4,016)	(4,018)
NET INCOME AVAILABLE FOR COMMON UNIT HOLDERS	$ 58,491	$ 59,668	$ 111,818	$ 109,642
EARNINGS PER COMMON UNIT, BASIC:
Net income available for common unit holders	$ 0.72	$ 0.75	$ 1.37	$ 1.38
Weighted average common units outstanding	81,214	79,202	81,178	78,826
EARNINGS PER COMMON UNIT, DILUTED:
Net income available for common unit holders	$ 0.72	$ 0.75	$ 1.37	$ 1.38
Weighted average common units outstanding	81,214	79,202	81,178	78,855
COMPREHENSIVE INCOME
COMPREHENSIVE INCOME	$ 64,066	$ 66,689	$ 120,461	$ 125,333
COMPREHENSIVE INCOME ATTRIBUTABLE TO THE TRUST / PARTNERSHIP	$ 61,449	$ 63,701	$ 115,573	$ 119,257

Earnings Per Share And Unit (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of earnings per share and unit

The following potentially issuable shares were excluded from the diluted EPS and EPU calculations because their impact is anti-dilutive:

•exercise of 1,829 stock options for the three and six months ended June 30, 2023,

•conversions of downREIT operating partnership units for both the three and six months ended June 30, 2023 and 2022,

•conversions of 5.417% Series 1 Cumulative Convertible Preferred Shares and units for both the three and six months ended June 30, 2023 and 2022, and

•the issuance of 1.5 million and 0.7 million shares and units issuable under common share forward sales agreements for the three and six months ended June 30, 2022, respectively.

Additionally, 10,441 unvested restricted stock units are excluded from the diluted EPS and EPU calculations as the market based performance criteria in the awards has not yet been achieved.

Federal Realty Investment Trust Earnings per Share


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
	(In thousands, except per share data)
NUMERATOR
Net income	$	63,004	$	64,467	$	120,735	$	119,195
Less: Preferred share dividends	(2,008)		(2,008)		(4,016)		(4,018)
Less: Income from operations attributable to noncontrolling interests	(2,505)		(2,791)		(4,901)		(5,535)
Less: Earnings allocated to unvested shares	(324)		(300)		(651)		(607)



Net income available for common shareholders, basic and diluted	$	58,167	$	59,368	$	111,167	$	109,035
DENOMINATOR
Weighted average common shares outstanding, basic	81,214		79,202		81,178		78,826
Effect of dilutive securities:

Open forward contracts for share issuances	—		—		—		29


Weighted average common shares outstanding, diluted	81,214		79,202		81,178		78,855

EARNINGS PER COMMON SHARE, BASIC AND DILUTED:
Net income available for common shareholders	$	0.72	$	0.75	$	1.37	$	1.38

Federal Realty OP LP Earnings per Unit


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
	(In thousands, except per unit data)
NUMERATOR
Net income	$	63,004	$	64,467	$	120,735	$	119,195
Less: Preferred unit distributions	(2,008)		(2,008)		(4,016)		(4,018)
Less: Income from operations attributable to noncontrolling interests	(2,505)		(2,791)		(4,901)		(5,535)
Less: Earnings allocated to unvested units	(324)		(300)		(651)		(607)



Net income available for common unit holders, basic and diluted	$	58,167	$	59,368	$	111,167	$	109,035
DENOMINATOR
Weighted average common units outstanding, basic	81,214		79,202		81,178		78,826
Effect of dilutive securities:

Common unit issuances relating to open common share forward contracts	—		—		—		29


Weighted average common units outstanding, diluted	81,214		79,202		81,178		78,855

EARNINGS PER COMMON UNIT, BASIC AND DILUTED:
Net income available for common unit holders	$	0.72	$	0.75	$	1.37	$	1.38

Earnings Per Share And Unit (Schedule Of Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income	$ 63,004	$ 64,467	$ 120,735	$ 119,195
Less: Preferred share dividends	(2,008)	(2,008)	(4,016)	(4,018)
Less: Income from operations attributable to noncontrolling interests	(2,505)	(2,791)	(4,901)	(5,535)
Less: Earnings allocated to unvested shares	(324)	(300)	(651)	(607)
Net income available for common shareholders, basic and diluted	$ 58,167	$ 59,368	$ 111,167	$ 109,035
Weighted average common shares outstanding, basic	81,214	79,202	81,178	78,826
Open forward contracts for share issuances	0	0	0	29
Weighted average common shares outstanding, diluted	81,214	79,202	81,178	78,855
EARNINGS PER COMMON SHARE, BASIC AND DILUTED:
Net income available for common shareholders	$ 0.72	$ 0.75	$ 1.37	$ 1.38
Federal Realty OP LP
Net income	$ 63,004	$ 64,467	$ 120,735	$ 119,195
Less: Preferred unit distributions	(2,008)	(2,008)	(4,016)	(4,018)
Less: Income from operations attributable to noncontrolling interests	(2,505)	(2,791)	(4,901)	(5,535)
Less: Earnings allocated to unvested units	(324)	(300)	(651)	(607)
Net income available to common unit holders, basic and diluted	$ 58,167	$ 59,368	$ 111,167	$ 109,035
Weighted average common units outstanding, basic	81,214	79,202	81,178	78,826
Common unit issuances relating to open common share forward contracts	0	0	0	29
Weighted average common units outstanding, diluted	81,214	79,202	81,178	78,855
EARNINGS PER COMMON UNIT, BASIC AND DILUTED:
Net income available for common unit holders	$ 0.72	$ 0.75	$ 1.37	$ 1.38

Debt (Details) - USD ($) $ in Millions			3 Months Ended	6 Months Ended
Debt (Details) - USD ($) $ in Millions	Jun. 01, 2023	Apr. 12, 2023	Jun. 30, 2023	Jun. 30, 2023
5.375% notes \| Unsecured senior notes
Debt Instrument [Line Items]
Proceeds from issuance of debt		$ 350.0
Interest rate		5.375%
Note offering percent		99.59%
Debt yield to maturity		5.468%
Net proceeds		$ 345.7
2.75% notes \| Unsecured senior notes
Debt Instrument [Line Items]
Interest rate	2.75%
Repayments of Unsecured Debt	$ 275.0
Revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity under revolving credit facility			$ 1,250.0	$ 1,250.0
Maximum amount outstanding under revolving credit facility			77.5	80.5
Weighted average borrowings outstanding			$ 18.0	$ 33.7
Weighted average interest rate, before amortization of debt fees			5.80%	5.50%
Revolving credit facility			$ 31.5	$ 31.5

Summary Of Significant Accounting Policies Consolidated Statement of Cash Flows - Supplemental Disclosures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accounting Policies [Abstract]
Total interest costs incurred			$ 93,256	$ 72,824
Interest capitalized			(11,147)	(9,177)
Interest expense	$ 42,884	$ 32,074	82,109	63,647
Cash paid for interest, net of amounts capitalized			75,389	61,973
Cash paid for income taxes			779	607
Shares issued under dividend reinvestment plan			851	866
DownREIT operating partnership units redeemed for common shares			668	1,385
5.417% Series 1 Cumulative Convertible Preferred Shares redeemed for common shares			$ 0	$ 175

- Definition

Amount of the cost of borrowed funds accounted for as interest expense.

+ References + Details

Shareholders' Equity (Summary of Dividends) (Details) - $ / shares

3 Months Ended

6 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Dividends

Divdends declared per common share

$ 1.08

$ 1.07

$ 2.16

$ 2.14

Dividends paid per common share

2.160

2.140

5.417% Series 1 Cumulative Convertible Preferred Shares, (stated at liquidation preference $25 per share), 392,878 shares issued and outstanding

Dividends

Dividends declared per preferred share

0.677

Dividends paid per preferred share

0.677

5.0% Series C Cumulative Redeemable Preferred Shares, (stated at liquidation preference $25,000 per share), 6,000 shares issued and outstanding

Dividends

Dividends declared per preferred share

^[1]

0.625

Dividends paid per preferred share

^[1]

$ 0.625

[1]	Amount represents dividends per depository share, each representing 1/1000th of a share.

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
ASSETS
Operating (including $2,008,167 and $1,997,583 of consolidated variable interest entities, respectively)	$ 9,732,833	$ 9,441,945
Construction-in-progress (including $11,441 and $8,477 of consolidated variable interest entities, respectively)	667,554	662,554
Real estate, at cost, total	10,400,387	10,104,499
Less accumulated depreciation and amortization (including $388,881 and $362,921 of consolidated variable interest entities, respectively)	(2,839,550)	(2,715,817)
Net real estate	7,560,837	7,388,682
Cash and cash equivalents	98,064	85,558
Accounts and notes receivable, net	195,689	197,648
Mortgage notes receivable, net	9,222	9,456
Investment in partnerships	34,942	145,205
Operating lease right of use assets, net	88,215	94,569
Finance lease right of use assets, net	44,891	45,467
Prepaid expenses and other assets	247,016	267,406
TOTAL ASSETS	8,278,876	8,233,991
Liabilities
Mortgages payable, net (including $190,562 and $191,827 of consolidated variable interest entities, respectively)	319,208	320,615
Notes payable, net	633,095	601,077
Senior notes and debentures, net	3,479,333	3,407,701
Accounts payable and accrued expenses	187,027	190,340
Dividends payable	90,441	90,263
Security deposits payable	29,292	28,508
Operating lease liabilities	76,928	77,743
Finance lease liabilities	67,655	67,660
Other liabilities and deferred credits	237,317	237,699
Total liabilities	5,120,296	5,021,606
Commitments and contingencies (Note 6)
Redeemable noncontrolling interests	178,149	178,370
Shareholders’ equity
Common shares of beneficial interest, $.01 par, 200,000,000 and 100,000,000 shares authorized, respectively, 81,515,511 and 81,342,959 shares issued and outstanding, respectively	820	818
Additional paid-in capital	3,832,983	3,821,801
Accumulated dividends in excess of net income	(1,098,432)	(1,034,186)
Accumulated other comprehensive income	5,496	5,757
Total shareholders’ equity of the Trust	2,900,689	2,954,012
Noncontrolling interests	79,742	80,003
Total shareholders’ equity	2,980,431	3,034,015
Partner capital
Accumulated other comprehensive income	5,496	5,757
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY / CAPITAL	8,278,876	8,233,991
Federal Realty OP LP
ASSETS
Operating (including $2,008,167 and $1,997,583 of consolidated variable interest entities, respectively)	9,732,833	9,441,945
Construction-in-progress (including $11,441 and $8,477 of consolidated variable interest entities, respectively)	667,554	662,554
Real estate, at cost, total	10,400,387	10,104,499
Less accumulated depreciation and amortization (including $388,881 and $362,921 of consolidated variable interest entities, respectively)	(2,839,550)	(2,715,817)
Net real estate	7,560,837	7,388,682
Cash and cash equivalents	98,064	85,558
Accounts and notes receivable, net	195,689	197,648
Mortgage notes receivable, net	9,222	9,456
Investment in partnerships	34,942	145,205
Operating lease right of use assets, net	88,215	94,569
Finance lease right of use assets, net	44,891	45,467
Prepaid expenses and other assets	247,016	267,406
TOTAL ASSETS	8,278,876	8,233,991
Liabilities
Mortgages payable, net (including $190,562 and $191,827 of consolidated variable interest entities, respectively)	319,208	320,615
Notes payable, net	633,095	601,077
Senior notes and debentures, net	3,479,333	3,407,701
Accounts payable and accrued expenses	187,027	190,340
Dividends payable	90,441	90,263
Security deposits payable	29,292	28,508
Operating lease liabilities	76,928	77,743
Finance lease liabilities	67,655	67,660
Other liabilities and deferred credits	237,317	237,699
Total liabilities	5,120,296	5,021,606
Commitments and contingencies (Note 6)
Redeemable noncontrolling interests	178,149	178,370
Shareholders’ equity
Accumulated other comprehensive income	5,496	5,757
Partner capital
Preferred units, 398,878 units issued and outstanding	154,788	154,788
Common units, 81,515,511 and 81,342,959 units issued and outstanding, respectively	2,740,405	2,793,467
Accumulated other comprehensive income	5,496	5,757
Total partner capital	2,900,689	2,954,012
Noncontrolling interests in consolidated partnerships	79,742	80,003
Total capital	2,980,431	3,034,015
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY / CAPITAL	8,278,876	8,233,991
5.0% Series C Cumulative Redeemable Preferred Shares, (stated at liquidation preference $25,000 per share), 6,000 shares issued and outstanding
Shareholders’ equity
Preferred shares, authorized 15,000,000 shares, $.01 par:	150,000	150,000
5.417% Series 1 Cumulative Convertible Preferred Shares, (stated at liquidation preference $25 per share), 392,878 shares issued and outstanding
Shareholders’ equity
Preferred shares, authorized 15,000,000 shares, $.01 par:	$ 9,822	$ 9,822

Debt	6 Months Ended
Debt	Jun. 30, 2023
Debt Instruments [Abstract]
DEBT	DEBT On April 12, 2023, we issued $350.0 million of fixed rate senior unsecured notes that mature on May 1, 2028 and bear interest at 5.375%. The notes were offered at 99.590% of the principal amount with a yield to maturity of 5.468%. The net proceeds, after issuance discount, underwriting fees, and other costs were $345.7 million. On June 1, 2023, we repaid our $275.0 million 2.75% senior unsecured notes at maturity. During the three and six months ended June 30, 2023, the maximum amount of borrowings outstanding under our $1.25 billion revolving credit facility was $77.5 million and $80.5 million, respectively. The weighted average amount of borrowings outstanding was $18.0 million and $33.7 million, respectively, and the weighted average interest rate, before amortization of debt fees, was 5.8% and 5.5%, respectively, for the three and six months ended June 30, 2023. At June 30, 2023, our revolving credit facility had $31.5 million outstanding. Our revolving credit facility, term loan, and certain notes require us to comply with various financial covenants, including the maintenance of minimum shareholders' equity and debt coverage ratios and a maximum ratio of debt to net worth. As of June 30, 2023, we were in compliance with all default related debt covenants.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Summary Of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Supplemental disclosures related to the Consolidated Statements Of Cash Flows

The following tables provide supplemental disclosures related to the Consolidated Statements of Cash Flows:


	Six Months Ended
	June 30,
	2023		2022
	(In thousands)
SUPPLEMENTAL DISCLOSURES:
Total interest costs incurred	$	93,256	$	72,824
Interest capitalized	(11,147)		(9,177)
Interest expense	$	82,109	$	63,647
Cash paid for interest, net of amounts capitalized	$	75,389	$	61,973
Cash paid for income taxes	$	779	$	607
NON-CASH INVESTING AND FINANCING TRANSACTIONS:





Shares issued under dividend reinvestment plan	$	851	$	866
DownREIT operating partnership units redeemed for common shares	$	668	$	1,385
5.417% Series 1 Cumulative Convertible Preferred Shares redeemed for common shares	$	—	$	175

Reconciliation of cash, cash equivalents, and restricted cash


	June 30,		December 31,
	2023		2022
	(In thousands)
RECONCILIATION OF CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:
Cash and cash equivalents	$	98,064	$	85,558
Restricted cash (1)	4,692		10,790
Total cash, cash equivalents, and restricted cash	$	102,756	$	96,348

(1)Restricted cash balances are included in "prepaid expenses and other assets" on our consolidated balance sheets.

Summary Of Significant Accounting Policies Consolidated Statement of Cash Flows - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($)
$ in Thousands

Jun. 30, 2023

Dec. 31, 2022

Jun. 30, 2022

Dec. 31, 2021

Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]

Cash and cash equivalents

$ 98,064

$ 85,558

Restricted cash

^[1]

4,692

10,790

Total cash, cash equivalents, and restricted cash

$ 102,756

$ 96,348

$ 194,557

$ 175,163

[1]	Restricted cash balances are included in "prepaid expenses and other assets" on our consolidated balance sheets.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES We are sometimes involved in lawsuits, warranty claims, and environmental matters arising in the ordinary course of business. Management makes assumptions and estimates concerning the likelihood and amount of any potential loss relating to these matters. We are currently a party to various legal proceedings. We accrue a liability for litigation if an unfavorable outcome is probable and the amount of loss can be reasonably estimated. If an unfavorable outcome is probable and a reasonable estimate of the loss is a range, we accrue the best estimate within the range; however, if no amount within the range is a better estimate than any other amount, the minimum within the range is accrued. Legal fees related to litigation are expensed as incurred. We do not believe that the ultimate outcome of these matters, either individually or in the aggregate, could have a material adverse effect on our financial position or overall trends in results of operations; however, litigation is subject to inherent uncertainties. Also under our leases, tenants are typically obligated to indemnify us from and against all liabilities, costs and expenses imposed upon or asserted against us (1) as owner of the properties due to certain matters relating to the operation of the properties by the tenant, and (2) where appropriate, due to certain matters relating to the ownership of the properties prior to their acquisition by us. Under the terms of certain partnership agreements, the partners have the right to exchange their operating partnership units for cash or common shares, at our option. A total of 637,031 downREIT operating partnership units are outstanding which have a total fair value of approximately $61.6 million, which is calculated by multiplying the outstanding number of downREIT partnership units by our closing stock price on June 30, 2023.

Share-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Share-Based Compensation (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Abstract]
Grants of common shares, restricted stock units, and options	$ 3,696	$ 3,500	$ 8,130	$ 7,679
Capitalized share-based compensation	(348)	(300)	(685)	(659)
Share-based compensation expense	$ 3,348	$ 3,200	$ 7,445	$ 7,020

Consolidated Statements of Capital (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income attributable to redeemable noncontrolling interests	$ 1,551	$ 1,792	$ 3,219	$ 3,527
Other comprehensive income (loss) attributable to redeemable noncontrolling interests	112	197	(13)	541
Distributions declared to redeemable noncontrolling interests	1,867	2,394	3,427	4,138
Federal Realty OP LP
Net income attributable to redeemable noncontrolling interests	1,551	1,792	3,219	3,527
Other comprehensive income (loss) attributable to redeemable noncontrolling interests	112	197	(13)	541
Distributions declared to redeemable noncontrolling interests	$ 1,867	$ 2,394	$ 3,427	$ 4,138

Fair Value Of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Summary of carrying amount and fair value of financial instruments

A summary of the carrying amount and fair value of our mortgages payable, notes payable and senior notes and debentures is as follows:


	June 30, 2023				December 31, 2022
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
Mortgages and notes payable, net	$	952,303	$	924,891	$	921,692	$	895,654
Senior notes and debentures, net	$	3,479,333	$	3,103,590	$	3,407,701	$	3,048,456

Summary of financial assets that are measured at fair value on a recurring basis

A summary of our financial assets that are measured at fair value on a recurring basis, by level within the fair value hierarchy is as follows:


	June 30, 2023								December 31, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(In thousands)
Interest rate swaps	$	—	$	6,015	$	—	$	6,015	$	—	$	6,144	$	—	$	6,144

Shareholders' Equity Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	May 04, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Net proceeds from issuance of common shares		$ 6,246	$ 259,597
Common shares of beneficial interest, shares authorized	200,000,000	200,000,000		200,000,000	100,000,000
At The Market Equity Program
Class of Stock [Line Items]
Aggregate offering price of common share	$ 500,000	$ 500,000
Shares issued	0	57,034
Weighted Average Price Per Common Share		$ 111.64
Net proceeds from issuance of common shares		$ 6,200
Remaining capacity to issue	$ 445,600	445,600
At The Market Equity Program \| Commissions
Class of Stock [Line Items]
Payments of Stock Issuance Costs		100
At The Market Equity Program \| Other Offering Costs
Class of Stock [Line Items]
Payments of Stock Issuance Costs		$ 100

Summary of Significant Accounting Policies (Policy)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Basis of Presentation

Basis of presentationThe accompanying unaudited interim consolidated financial statements of the Parent Company and Operating Partnership have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to those rules and regulations, although we believe that the disclosures made are adequate to make the information not misleading. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in our latest Annual Report on Form 10-K. In the opinion of management, all adjustments (consisting of normal, recurring adjustments) necessary for a fair presentation for the periods presented have been included. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the full year.

Principles of Consolidation

Use of Estimates

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements

Standard

Description

Effect on the financial statements or significant matters

ASU 2023-01, March 2023, Leases (Topic 842) Common Control Arrangements

We do not expect this ASU to have an impact on our consolidated financial statements.

ASU 2020-04, March 2020, Reference Rate Reform (Topic 848)

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-6

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 250
-Publisher FASB
-URI https://asc.fasb.org//250/tableOfContent

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

+ Details

Summary Of Significant Accounting Policies Recently Issued Accounting Pronouncements (Details) $ in Millions	Jun. 30, 2023 USD ($)
Hoboken \| Secured Debt
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Mortgage payable	$ 54.3

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 50
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147477123/405-50-65-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482477/820-10-65-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482477/820-10-65-13

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 832
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483482/832-10-65-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 832
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483482/832-10-65-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479845/805-20-65-3

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479845/805-20-65-3

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479845/805-20-65-3

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479832/842-10-65-5

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-2

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 43: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 44: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 45: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 46: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 47: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 48: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 49: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 50: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 51: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-5

Reference 52: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 53: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 54: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 55: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 56: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 57: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 58: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 59: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 60: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 61: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 62: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 63: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 64: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 65: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 66: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 67: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483194/926-20-65-2

Reference 68: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 69: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 70: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 71: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 72: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 73: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 74: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-6

Reference 75: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 76: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 77: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 78: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482833/825-10-65-6

Reference 79: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 80: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 81: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 82: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 83: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 84: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 85: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 86: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 87: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 88: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 89: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 90: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 91: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 92: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480424/946-10-50-3

+ Details

Consolidated Statement Of Shareholders' Equity - USD ($) $ in Thousands	Total	downREIT OP units	5.417% Series 1 Cumulative Convertible Preferred Shares, (stated at liquidation preference $25 per share), 392,878 shares issued and outstanding	Preferred Shares	Preferred Shares 5.417% Series 1 Cumulative Convertible Preferred Shares, (stated at liquidation preference $25 per share), 392,878 shares issued and outstanding	Common Shares	Common Shares downREIT OP units	Common Shares 5.417% Series 1 Cumulative Convertible Preferred Shares, (stated at liquidation preference $25 per share), 392,878 shares issued and outstanding	Additional Paid-in Capital	Additional Paid-in Capital downREIT OP units	Additional Paid-in Capital 5.417% Series 1 Cumulative Convertible Preferred Shares, (stated at liquidation preference $25 per share), 392,878 shares issued and outstanding	Accumulated Dividends in Excess of Net Income	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest	Noncontrolling Interest downREIT OP units
Beginning balance (in shares) at Dec. 31, 2021				405,896		78,603,305
Beginning balance at Dec. 31, 2021	$ 2,663,148			$ 159,997		$ 790			$ 3,488,794			$ (1,066,932)	$ (2,047)	$ 82,546
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income, excluding amounts attributable to redeemable noncontrolling interests	115,668											113,660		2,008
Other comprehensive income (loss) - change in fair value of interest rate swaps, excluding portion attributable to redeemable noncontrolling interests	5,597												5,597
Dividends declared to common shareholders	(169,173)											(169,173)
Dividends declared to preferred shareholders	(4,018)											(4,018)
Distributions declared to noncontrolling interests, excluding amounts attributable to redeemable noncontrolling interests	(2,625)													(2,625)
Common shares issued, net (in shares)						2,203,697
Common shares issued, net	259,452					$ 22			259,430
Shares issued under dividend reinvestment plan (in shares)						8,000
Shares issued under dividend reinvestment plan	1,011								1,011
Share-based compensation expense, net of forfeitures (in shares)						104,105
Share-based compensation expense, net of forfeitures	7,679					$ 1			7,678
Shares withheld for employee taxes (in shares)						(38,576)
Shares withheld for employee taxes	(4,638)								(4,638)
Conversion of preferred shares (in shares)					(7,018)
Conversion of preferred shares					$ (175)
Conversion of preferred shares (in shares)								1,675
Conversion of preferred shares			$ 0								$ 175
Conversion and redemption of downREIT OP units (in Shares)							14,598
Conversion and redemption of downREIT OP units		$ 0					$ 0			$ 1,385
Conversion and redemption of downREIT OP units															$ (1,385)
Adjustment to redeemable noncontrolling interests	4,326								4,326
Ending balance (in shares) at Jun. 30, 2022				398,878		80,896,804
Ending balance at Jun. 30, 2022	2,876,427			$ 159,822		$ 813			3,758,161			(1,126,463)	3,550	80,544
Beginning balance (in shares) at Mar. 31, 2022				405,896		79,417,472
Beginning balance at Mar. 31, 2022	2,714,577			$ 159,997		$ 799			3,572,591			(1,101,154)	1,525	80,819
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income, excluding amounts attributable to redeemable noncontrolling interests	62,675											61,676		999
Other comprehensive income (loss) - change in fair value of interest rate swaps, excluding portion attributable to redeemable noncontrolling interests	2,025												2,025
Dividends declared to common shareholders	(84,977)											(84,977)
Dividends declared to preferred shareholders	(2,008)											(2,008)
Distributions declared to noncontrolling interests, excluding amounts attributable to redeemable noncontrolling interests	(866)													(866)
Common shares issued, net (in shares)						1,473,928
Common shares issued, net	176,703					$ 14			176,689
Shares issued under dividend reinvestment plan (in shares)						4,230
Shares issued under dividend reinvestment plan	509								509
Share-based compensation expense, net of forfeitures (in shares)						(4,786)
Share-based compensation expense, net of forfeitures	3,500					$ 0			3,500
Shares withheld for employee taxes (in shares)						(306)
Shares withheld for employee taxes	(37)								(37)
Conversion of preferred shares (in shares)					(7,018)
Conversion of preferred shares					$ (175)
Conversion of preferred shares (in shares)								1,675
Conversion of preferred shares			$ 0								$ 175
Conversion and redemption of downREIT OP units (in Shares)							4,591
Conversion and redemption of downREIT OP units		0					$ 0			408
Conversion and redemption of downREIT OP units															(408)
Adjustment to redeemable noncontrolling interests	4,326								4,326
Ending balance (in shares) at Jun. 30, 2022				398,878		80,896,804
Ending balance at Jun. 30, 2022	2,876,427			$ 159,822		$ 813			3,758,161			(1,126,463)	3,550	80,544
Beginning balance (in shares) at Dec. 31, 2022				398,878		81,342,959
Beginning balance at Dec. 31, 2022	3,034,015			$ 159,822		$ 818			3,821,801			(1,034,186)	5,757	80,003
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income, excluding amounts attributable to redeemable noncontrolling interests	117,516											115,834		1,682
Other comprehensive income (loss) - change in fair value of interest rate swaps, excluding portion attributable to redeemable noncontrolling interests	(261)												(261)
Dividends declared to common shareholders	(176,064)											(176,064)
Dividends declared to preferred shareholders	(4,016)											(4,016)
Distributions declared to noncontrolling interests, excluding amounts attributable to redeemable noncontrolling interests	(2,202)													(2,202)
Common shares issued, net (in shares)						57,096
Common shares issued, net	6,192					$ 1			6,191
Shares issued under dividend reinvestment plan (in shares)						9,631
Shares issued under dividend reinvestment plan	905								905
Share-based compensation expense, net of forfeitures (in shares)						141,234
Share-based compensation expense, net of forfeitures	8,130					$ 1			8,129
Shares withheld for employee taxes (in shares)						(42,932)
Shares withheld for employee taxes	(4,711)								(4,711)
Conversion and redemption of downREIT OP units (in Shares)							7,523
Conversion and redemption of downREIT OP units		$ 0					$ 0			$ 668
Conversion and redemption of downREIT OP units															$ (668)
Contributions from noncontrolling interests	927													927
Ending balance (in shares) at Jun. 30, 2023				398,878		81,515,511
Ending balance at Jun. 30, 2023	2,980,431			$ 159,822		$ 820			3,832,983			(1,098,432)	5,496	79,742
Beginning balance (in shares) at Mar. 31, 2023				398,878		81,511,204
Beginning balance at Mar. 31, 2023	3,004,241			$ 159,822		$ 820			3,828,930			(1,068,892)	4,546	79,015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income, excluding amounts attributable to redeemable noncontrolling interests	61,453											60,499		954
Other comprehensive income (loss) - change in fair value of interest rate swaps, excluding portion attributable to redeemable noncontrolling interests	950												950
Dividends declared to common shareholders	(88,031)											(88,031)
Dividends declared to preferred shareholders	(2,008)											(2,008)
Distributions declared to noncontrolling interests, excluding amounts attributable to redeemable noncontrolling interests	(1,154)													(1,154)
Common shares issued, net (in shares)						32
Common shares issued, net	(59)					$ 0			(59)
Shares issued under dividend reinvestment plan (in shares)						4,967
Shares issued under dividend reinvestment plan	482								482
Share-based compensation expense, net of forfeitures (in shares)						0
Share-based compensation expense, net of forfeitures	3,696					$ 0			3,696
Shares withheld for employee taxes (in shares)						(692)
Shares withheld for employee taxes	(66)								(66)
Contributions from noncontrolling interests	927													927
Ending balance (in shares) at Jun. 30, 2023				398,878		81,515,511
Ending balance at Jun. 30, 2023	$ 2,980,431			$ 159,822		$ 820			$ 3,832,983			$ (1,098,432)	$ 5,496	$ 79,742

Business And Organization (Details)	6 Months Ended
Business And Organization (Details)	Jun. 30, 2023 project
Nature of Operations
Number of real estate properties	102
Minimum percentage of taxable income distributed to shareholders	90.00%
Federal Realty GP LLC
Nature of Operations
Limited liability company ownership interest	100.00%

Document and Entity Information Document - shares	6 Months Ended
Document and Entity Information Document - shares	Jun. 30, 2023	Jul. 28, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	1-07533
Name of Registrant	FEDERAL REALTY INVESTMENT TRUST
Entity Central Index Key	0000034903
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
State of Organization	MD
IRS Employer Identification No.	87-3916363
Entity Address, Address	909 Rose Avenue, Suite 200
Entity Address, City	North Bethesda
Entity Address, State	MD
Entity Address, Zip Code	20852
City Area Code	301
Registrant's Telephone Number	998-8100
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		81,523,260
Federal Realty OP LP
Entity Information [Line Items]
Entity File Number	333-262016-01
Name of Registrant	FEDERAL REALTY OP LP
State of Organization	DE
IRS Employer Identification No.	52-0782497
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
New York Stock Exchange \| 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
New York Stock Exchange \| Depositary Shares
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing 1/1000 of a share of
Trading Symbol	FRT-C
Security Exchange Name	NYSE

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Operating real estate, consolidated variable interest entities	$ 2,008,167	$ 2,008,167	$ 1,997,583
Construction-in-progress, consolidated variable interest entities	11,441	11,441	8,477
Accumulated depreciation and amortization, consolidated variable interest entities	388,881	388,881	362,921
Mortgages payable, consolidated variable interest entities	$ 190,562	$ 190,562	$ 191,827
Preferred shares, authorized	15,000,000	15,000,000	15,000,000
Preferred shares, par value	$ 0.01	$ 0.01	$ 0.01
Common shares of beneficial interest, shares issued	81,515,511	81,515,511	81,342,959
Common shares of beneficial interest, par value	$ 0.01	$ 0.01	$ 0.01
Common shares of beneficial interest, shares authorized	200,000,000	200,000,000	100,000,000
Common shares of beneficial interest, shares outstanding	81,515,511	81,515,511	81,342,959
Federal Realty OP LP
Operating real estate, consolidated variable interest entities	$ 2,008,167	$ 2,008,167	$ 1,997,583
Construction-in-progress, consolidated variable interest entities	11,441	11,441	8,477
Accumulated depreciation and amortization, consolidated variable interest entities	388,881	388,881	362,921
Mortgages payable, consolidated variable interest entities	$ 190,562	$ 190,562	$ 191,827
Preferred units, issued	398,878	398,878	398,878
Preferred units, outstanding	398,878	398,878	398,878
Common units, issued	81,515,511	81,515,511	81,342,959
Common units, outstanding	81,515,511	81,515,511	81,342,959
5.0% Series C Cumulative Redeemable Preferred Shares, (stated at liquidation preference $25,000 per share), 6,000 shares issued and outstanding
Preferred shares, percentage		5.00%	5.00%
Preferred shares, liquidation preference per share	$ 25,000	$ 25,000	$ 25,000
Preferred shares, shares issued	6,000	6,000	6,000
Preferred shares, shares outstanding	6,000	6,000	6,000
5.417% Series 1 Cumulative Convertible Preferred Shares, (stated at liquidation preference $25 per share), 392,878 shares issued and outstanding
Preferred shares, percentage	5.417%	5.417%	5.417%
Preferred shares, liquidation preference per share	$ 25	$ 25	$ 25
Preferred shares, shares issued	392,878	392,878	392,878
Preferred shares, shares outstanding	392,878	392,878	392,878

Commitments and Contingencies (Details) - downREIT OP units $ in Millions	Jun. 30, 2023 USD ($) shares
Commitments [Line Items]
downREIT operating partnership units, outstanding \| shares	637,031
downREIT operating partnership units outstanding, fair value \| $	$ 61.6

Share-Based Compensation Plans

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION PLANS

A summary of share-based compensation expense included in net income is as follows:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
	(In thousands)
Grants of common shares, restricted stock units, and options	$	3,696	$	3,500	$	8,130	$	7,679


Capitalized share-based compensation	(348)		(300)		(685)		(659)
Share-based compensation expense	$	3,348	$	3,200	$	7,445	$	7,020