Federal Realty rises as Evercore ISI upgrades to 'outperform'

Federal Realty Investment Trust

27/11/2023 18:23

** Shares of retail real estate investment trust Federal
Realty Investment Trust  FRT.N  rise 2.06% to $94.01
    ** Evercore ISI upgrades FRT to "outperform" from "in line"
on co's good risk/reward profile moving into 2024
    ** Also raises ptice target to $108 from $104, representing
a 17% upside to the stock's last close
    ** "Given the greater exposure to higher income demographic
markets, the customers within FRT’s trade area should be less
impacted from the inflationary environment and potential
slowdown in the economy" - brokerage
    ** Nine of 17 brokerages rate the stock "buy" or higher, and
eight "hold"; their median PT is $108
    ** Up to Friday's close, stock had fallen 7.2% this year

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))