Wells Fargo raised the firm’s price target on Federal Realty to $103 from $93 and keeps an Equal Weight rating on the shares. The company exceeded consensus in Q2 and raised its 2023 FFO/share guidance by ~1% at the midpoint, with its new midpoint implying ~3.2% year-over-year growth, the analyst tells investors in a research note.
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Read More on FRT:
- 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
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- Federal Realty Investment Trust Announces Second Quarter 2023 Operating Results
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