Credit Suisse Downgrades Federal Realty Investment Trust (FRT) to Neutral

August 5, 2016 1:34 PM EDT
Get Alerts FRT Hot Sheet
Price: $139.25 -1.61%

Rating Summary:
    7 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 6 | Down: 10 | New: 6
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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."

For an analyst ratings summary and ratings history on Federal Realty Investment Trust click here. For more ratings news on Federal Realty Investment Trust click here.

Shares of Federal Realty Investment Trust closed at $165.48 yesterday.

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