SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT



Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report:   March 10, 1998



                         Federal Realty Investment Trust
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             (Exact name of registrant as specified in its charter)

    District of Columbia                1-7533                   52-0782497
- ----------------------------       -----------------        -------------------
(State or other jurisdiction   (Commission File Number)     (IRS Employer of 
of incorporation                                            identification No.)


      1626 East Jefferson Street, Rockville, Maryland                  20852
- --------------------------------------------------------           -------------
         (Address of principal executive offices)                    (Zip Code)


Registrant's telephone number including area code:   301/998-8100
                                                     ------------




Exhibit Index appears on page 3
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Item 5.     Other Events

     Exhibits are filed herewith in connection  with Federal  Realty  Investment
Trust's  Pricing  Supplements  No. 2 and 3 to its Prospectus  Supplement,  dated
April 17, 1997,  to its  Prospectus  dated  November 7, 1995  (Registration  No.
33-63687),  filed with the Securities  and Exchange  Commission on March 6, 1998
and  relating  to the issue and sale by the  Trust of  $39,500,000  of its 6.74%
Medium-Term  Notes due March 10, 2004, and $40,500,000 of its 6.99%  Medium-Term
Notes due March 10, 2006 (together, "Notes"). Attached as Exhibit 5 hereto is an
opinion from Kirkpatrick & Lockhart LLP regarding the legality of the Notes. The
consent of  Kirkpatrick  & Lockhart LLP to the inclusion of such opinion in this
Form 8-K is included in the opinion.

Item 7.     Financial Statements and Exhibits

Exhibit  5        Opinion Regarding Legality

Exhibit 23        Consent of Counsel (included in Exhibit 5)

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereto duly authorized.

                                       FEDERAL REALTY INVESTMENT TRUST

                                       /s/ Cecily A. Ward
                                       -----------------------------------------
                                       Cecily A. Ward
                                       Controller (Principal Accounting Officer)


Date:    March 10, 1998






                                  EXHIBIT INDEX

ITEM NO.

       5         Opinion Regarding Legality
      23         Consent of Counsel (included in the opinion)