BofA Raises Target on Federal Realty Investment Trust (FRT) after Reviewing Market Conditions

With an annual dividend yield of 3.72% as of May 29, Federal Realty Investment Trust (NYSE:FRT) is included among the Dividend Aristocrats Ranked By Yield: Top 10 Stocks

BofA Raises Target on Federal Realty Investment Trust (FRT) after Reviewing Market Conditions

On May 29, BofA raised its price recommendation on Federal Realty Investment Trust (NYSE:FRT) to $128 from $125. It reiterated a Buy rating on the shares. The firm updated its cap rate assumptions following the International Council of Shopping Centers (ICSC) event in Las Vegas. According to the analyst, the changes were based on discussions with brokers during the conference.

Earlier, on May 26, Wells Fargo raised its price goal on Federal Realty to $129 from $120. It kept an Overweight rating on the stock. The firm said it remains positive on retail REIT fundamentals heading into upcoming meetings at Nareit in June. Wells Fargo also continues to see long-term tailwinds supporting the sector. At the same time, the firm noted that valuations have become less attractive after the group’s strong performance so far this year.

Federal Realty Investment Trust (NYSE:FRT) is an equity real estate investment trust (REIT). The trust focuses on owning, operating, and redeveloping retail-based properties, primarily in major coastal markets and selected underserved regions with strong economic and demographic fundamentals.

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