Federal Realty Investment Trust owns and operates shopping centers and mixed-use retail properties concentrated in densely populated, affluent markets primarily along the East and West coasts of the United States. As a real estate investment trust, the company distributes most of its taxable income to shareholders as dividends, generating revenue from retail tenant rental income across its portfolio of owned shopping centers. Federal Realty's focus on well-located properties in dense, high-income markets differs from retail REITs with more geographically dispersed or lower-demographic property portfolios, targeting tenants willing to pay premium rents for prime retail locations near affluent consumer bases. The company has maintained one of the longest consecutive annual dividend increase streaks among publicly traded REITs, a track record that has made it a well-known name among income-focused real estate investors.