<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the 
Consolidated Balance Sheet of Federal Realty Investment Trust as of 
September 30, 1997 and the Related consolidated statement of operations for the
nine months ended September 30, 1997 and is qualified in its entirety by
reference to such financial statements. It has been amended for the restatement
of earnings per share calculated under SFAS 128.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               SEP-30-1997
<CASH>                                           4,687
<SECURITIES>                                         0
<RECEIVABLES>                                   15,923
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0<F1>
<PP&E>                                       1,299,321
<DEPRECIATION>                                (238,815)
<TOTAL-ASSETS>                               1,156,304
<CURRENT-LIABILITIES>                                0
<BONDS>                                        622,004
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       687,324
<OTHER-SE>                                    (223,019)
<TOTAL-LIABILITY-AND-EQUITY>                 1,156,304
<SALES>                                              0
<TOTAL-REVENUES>                               144,602
<CGS>                                                0
<TOTAL-COSTS>                                   45,598
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              35,952
<INCOME-PRETAX>                                 35,810
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    35,810
<EPS-PRIMARY>                                      .93
<EPS-DILUTED>                                      .92
        
<FN>
<F1>Current assets and current liabilities are not listed since Federal Realty 
does not prepare a classified balance sheet.
</FN>