Federal Realty Investment Trust prices offering at $57.50, hopes to raise $95.6 million

Federal Realty Investment Trust prices offering

ROCKVILLE, Md. — Federal Realty Investment Trust said on Tuesday that its offering of more than 1.7 million shares has been priced at $57.50 each.

The trust, which focuses on retail and mixed-use properties, said it expects to get about $95.6 million from the offering after it pays fees. It said it will use the money to pay for potential acquisitions, redevelopment, pay down debt, and for general corporate purposes. It said it expects the offering to close on Friday.

Wells Fargo Securities and JPMorgan Securities are joint book-runners.

Its shares fell 99 cents to $59.13 in afternoon trading.