New York State Teachers' Retirement System, J.P. Morgan Asset Management, Inc. and State of Michigan Retirement Systems, The, partners of EDENS Inc. are reportedly in talks to change the ownership structure of EDENS. According to sources, J.P. Morgan Asset Management wants to remain as partner and The State of Michigan Retirement System might exit EDENS. According to Reuters, spokeswoman for J.P. Morgan, New York State Teachers' Retirement System, State of Michigan Retirement Systems and EDENS declined to comment. The partners have various options including, a buyout of one or both of the partners, bringing in another partner and keeping EDENS private. The partners reportedly could also sell EDENS to Federal Realty Investment Trust (NYSE:FRT) or Regency Centers Corporation (NYSE:REG). Alternatively, EDENS could reportedly launch an initial public offering. According to sources, State of Michigan Retirement Systems has hired Evercore Partners Inc. (NYSE:EVR), New York State Teachers' Retirement System has hired Green Street Advisors, Inc. and EDENS has hired Eastdil Secured LLC as financial advisor.

Federal Realty Investment Trust reported unaudited earnings results for the first quarter ended March 31, 2013. Net income available for common shareholders was $34.5 million and earnings per diluted share was $0.53 for first quarter 2013 versus $42.9 million and $0.67, respectively, for first quarter 2012. Total revenue was $158 million against $146.3 million of prior year period. Operating income was $62.9 million against $60.5 million of prior year period. Income from continuing operations was $35.8 million or $0.53 per share against income from continuing operations of $32.3 million or $0.48 per share for the same period last year. For first quarter 2013, the company generated funds from operations available for common shareholders (FFO) of $74.3 million or $1.14 per diluted share compared to $66.9 million or $1.04 per diluted share, in first quarter 2012. The company has increased its 2013 guidance for FFO per diluted share to a range of $4.55 to $4.59 to reflect the impact of acquisition of Darien and the benefit to cost of borrowing from recent upgrade from Standard & Poor's. The company’s updated earnings per share guidance is $2.23 to $2.27. The company expects overall same-store POI for the year in the 3% or 4% range for the balance of the year, which reflects in part the loss of approximately $1.5 million in POI from taking down the balance of Mid-Pike Plaza associated with Pike & Rose redevelopment. The company also announced that its Board of Trustees left the regular dividend rate on its common shares unchanged, declaring a regular quarterly cash dividend of $0.73 per share on its common shares, resulting in an indicated annual rate of $2.92 per share. The regular common dividend will be payable on July 15, 2013 to common shareholders of record on June 21, 2013.

On April 22, 2013, Federal Realty Investment Trust entered into an amendment to its credit agreement dated as of July 7, 2011 by and among the trust, as borrower, the financial institutions party thereto and their permitted assignees under section 12.6., as lenders, Wells Fargo Bank, National Association, as Administrative Agent, PNC Bank, National Association, as Syndication Agent, Wells Fargo Securities, LLC, as a lead arranger and book manager, and PNC Capital Markets LLC, as a lead arranger and book manager. The amendment increases the unsecured revolving credit facility from $400.0 million to $600.0 million and extends the maturity date to April 21, 2017, subject to a one-year extension at the option of the trust. The credit facility initially bears interest at a rate of libor plus 100 basis points, and the spread over libor is subject to adjustment based on the company credit rating.