Stifel Downgrades Federal Realty Investment Trust (FRT) to Hold While Raising PT
- Wall Street ends mixed despite bumper big-bank earnings
- Coinbase (COIN) Soars 52% in Public Debut
- Thermo Fisher Scientific (TMO) Nears Deal to Buy PPD, Inc. (PPD) for More Than $15 Billion -DJ
- JPMorgan (JPM) Reports a Q1 Beat on Revenue and Profit Fueled by Release of $5.2 Billion Reserved for Bad Loans; Shares Slightly Down
- Dell Technologies (DELL) Announces Planned VMware (VMW) Spin-Off
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Stifel analyst Simon Yarmak downgraded Federal Realty Investment Trust (NYSE: FRT) from Buy to Hold but raised the price target to $95.00 (from $89.00) after shares surged 12.5% YTD, outperforming the RMS (+5.2%).
The analyst stated "We feel the recent move higher, which has resulted in shares trading at an implied 5.15% cap rate, leaves limited upside from current levels. Additionally, shares are trading at 20.8x 2021E FFO, which is ~6.0x above the group, higher than the average premium of ~5.0x the company has garnered over the last few years. Lastly, while some believe the reopening trade has further room to run, we believe the sector has gotten ahead of itself, and don't believe additional momentum on the reopening front will provide much upside".
Shares of Federal Realty Investment Trust closed at $93.02 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Starts Elanco Animal Health (ELAN) at Buy
- Outokumpu OYJ (OUT1V:FH) (OUTFF) PT Raised to EUR3.60 at Jefferies
- United Microelectronics Corp (2303:TT) (UMC) PT Raised to TWD67 at Credit Suisse
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!