UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

               ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF
                      THE SECURITIES EXCHANGE ACT OF 1934
                                  FORM 10-K/A

      For Fiscal Year Ended: December 31, 1994 Commission File No. 1-7533
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                        FEDERAL REALTY INVESTMENT TRUST
                        -------------------------------
            (Exact name of registrant as specified in its charter)

             District of Columbia                             52-0782497
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        (State or other jurisdiction of                    (I.R.S. Employer 
         incorporation or organization)                   Identification No.)

            4800 Hampden Lane, Suite 500, Bethesda, Maryland 20814
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            (Address of principal executive offices)    (Zip Code)              

                                (301) 652-3360
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             (Registrant's telephone number, including area code)

         Securities registered pursuant to Section 12 (b) of the Act:

                                                Name of Each Exchange
Title of Each Class                             on Which Registered
- -------------------                             ---------------------
Common Shares of Beneficial Interest            New York Stock Exchange
Common Stock Purchase Rights                    New York Stock Exchange
Preferred Shares of Beneficial Interest*
8 7/8% Senior Notes
Subordinated Debt Securities*

* None issued, registered pursuant to a shelf registration

Securities registered pursuant to Section 12(g) of the Act: None

        Indicate by check mark whether the registrant (1) has filed all reports 
required to be filed by section 13 or 15 (d) of the Securities Exchange Act of 
1934 during the preceding 12 months (or for such shorter period that the 
registrant was required to file such reports), and (2) has been subject to such 
filing requirements for the past 90 days. Yes X  No
                                             ---    ----

        Indicate by check mark if disclosure of delinquent filers pursuant to 
Item 405 of Regulation S-K is not contained herein, and will not be contained, 
to the best of registrant's knowledge, in definitive proxy or information 
statements incorporated by reference in Part III of this Form 10-K or any 
amendment to this Form 10-K.    [X]

        At March 9, 1995, the aggregate market value of Common Shares of 
Beneficial Interest of Federal Realty Investment Trust held by nonaffiliates was
$665 million based upon the closing price of such Shares on the New York Stock 
Exchange.

        Indicate the number of shares outstanding of each of the issuer's 
classes of common stock.

Class                                           Outstanding at March 9, 1995
- -----                                           ----------------------------
Comon Shares of Beneficial Interest                       31,660,481

 
                                   Part III
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Item 11. Executive Compensation
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        The sections entitled "Summary Compensation Table", "Employment
Agreement", "Aggregated Option Exercises in 1994 and December 31, 1994 Option
Values", "Retirement and Disability Plans" and "Compensation Committee
Interlocks and Insider Participation" appearing in the 1995 Proxy Statement are
incorporated herein by reference thereto.

                                  SIGNATURES
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Pursuant to the requirements of Section 13 or 15 (d) of the Securities Exchange 
Act of 1934, the registrant has duly caused this report to be signed on its 
behalf by the undersigned, thereunto authorized.

                                                FEDERAL REALTY INVESTMENT TRUST

Date: 9/27/95                                   By: /s/ Cecily A. Ward
                                                    ---------------------------
                                                    Cecily A. Ward
                                                    Vice President, Controller