Raymond James downgraded Federal Realty Investment Trust to Outperform from Strong Buy with a price target of $104, down from $115. While Federal Realty is expected to generate the highest funds from operations per share growth within the group, its current multiple already reflects the outsized growth expectations, the analyst tells investors in a research note. As such, the firm sees limited multiple expansion in the near-term.
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Read More on FRT:
- Federal Realty price target lowered to $108 from $110 at Truist
- Federal Realty price target lowered to $124 from $125 at BofA
- Federal Realty price target raised to $103 from $93 at Wells Fargo
- Federal Realty raises quarterly cash dividend to $1.09 per share
- Federal Realty raises 2023 FFO to $6.46-$6.58 from $6.38-$6.58, consensus $6.50
