Federal Realty price target lowered to $119 from $127 at Barclays

Barclays analyst Anthony Powell lowered the firm’s price target on Federal Realty (FRT) to $119 from $127 and keeps an Overweight rating on the shares. The firm is updating its estimates and reiterates a positive view on shopping center REITs following what it calls “positive updates” from members of the group at ICSC and NAREIT events, the analyst tells investors. In addition, the recent Cava Group (CAVA) IPO implies that financing continues to flow to QSR and casual dining, which has been a growth category for the group, the analyst says.