Deutsche Bank analyst Omotayo Okusanya upgraded Federal Realty Investment Trust to Buy from Hold with a price target of $110, up from $109. The analyst believes recent office lease announcements should alleviate investor concern around the office component of Federal Realty’s mixed use properties, and support multiple expansion given its current “discounted valuation versus history.” Further, management has struck a more aggressive tone on external growth which could drive further earnings upside given the comapny’s cost of capital advantage versus peers, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FRT:
- Federal Realty Stock (NYSE:FRT): This Dividend King Is Now Attractive
- Federal Realty price target raised to $124 from $118 at BofA
- Federal Realty files automatic mixed securities shelf
- Wells Fargo upgrades Federal Realty to Overweight on outsized growth in 2024/25
- Federal Realty upgraded to Overweight from Equal Weight at Wells Fargo