Investor Presentaiton
Cycle-Tested
Business Plan
Cumulative change in Nareit FFO per share since 2005
vs. large-cap, national peers
→ Business plan and balance sheet
built to manage through various
economic cycles
→History of managing through and
outperforming during difficult times
→ Demonstrated consistency, stability
and conservatism over the years
Source: Company Filings, 2024 assumes mid-point of company provided guidance.
Note: Past performance not indicative of future performance. FRT 2019 excludes $11.9
million accounting related charge for the buyout of the Kmart lease at Assembly Row
Marketplace. BRX excluded due to insufficient data given IPO in 2013.
Global Financial Crisis
140%
120%
100%
80%
60%
40%
20%
0%
-20%
-40%
-60%
FRT
COVID-19
Recession?
REG
KIM
FRT, 121%
REG, 15%
KIM, -22%
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024E
2025E
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