Credit Suisse Downgrades Federal Realty Investment Trust (FRT) to Neutral
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Credit Suisse downgraded Federal Realty Investment Trust (NYSE: FRT) from Outperform to Neutral with a price target of $170.00 (from $168.00).
Analyst Ian Weissman commented, "We are increasing our TP to $170, which is a blend of our $159 Forward NAV + 10% premium to account for portfolio quality (75%) and our $158 DCF (25%)—implying a 4.6% total return. However, FRT trades at a 5% premium to NAV, or a 4.4% implied cap rate. While we expect the platform to continue achieving strong growth, we believe that the growth is priced in at these levels."
Shares of Federal Realty Investment Trust closed at $165.48 yesterday.
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Create E-mail Alert Related CategoriesAnalyst EPS Change, Analyst EPS View, Analyst PT Change, Downgrades
Related EntitiesCredit Suisse, Ian Weissman
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