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Federal Realty downgraded to Neutral from Overweight at Piper Sandler
The Fly

Federal Realty downgraded to Neutral from Overweight at Piper Sandler

Piper Sandler analyst Alexander Goldfarb downgraded Federal Realty Investment Trust (FRT) to Neutral from Overweight with a price target of $112, down from $115. The analyst cites anticipated higher refinancing expense for the downgrade. Further, Federal Realty’s growth is less than peers despite trading at a higher multiple, Goldfarb tells investors in a research note. The analyst says Federal Realty "has earned its premium," but he sees better value in peers Brixmor (BRX) and Kite Realty Group (KRG).

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