<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEET OF FEDERAL REALTY INVESTMENT TRUST AS OF SEPTEMBER
30, 1996 AND THE RELATED CONSOLIDATED STATEMENT OF OPERATIONS FOR THE NINE
MONTHS ENDED SEPTEMBER 30, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                           9,071
<SECURITIES>                                       595
<RECEIVABLES>                                   16,914
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0<F1>
<PP&E>                                       1,058,525
<DEPRECIATION>                               (215,267)
<TOTAL-ASSETS>                                 928,597
<CURRENT-LIABILITIES>                                0<F1>
<BONDS>                                        529,614
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       551,912
<OTHER-SE>                                   (201,824)
<TOTAL-LIABILITY-AND-EQUITY>                   928,597
<SALES>                                              0
<TOTAL-REVENUES>                               128,531
<CGS>                                                0
<TOTAL-COSTS>                                   42,621
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              33,559
<INCOME-PRETAX>                                 21,046
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    21,046
<EPS-PRIMARY>                                      .63
<EPS-DILUTED>                                        0
<FN> 
<F1> Current assets and current liabilities are not listed since Federal Realty 
     does not prepare a classified balance sheet.  
</FN>