Federal Realty Receives a Buy from Boenning & Scattergood

Boenning & Scattergood analyst Floris van Dijkum maintained a Buy rating on Federal Realty (NYSE: FRT) today and set a price target of $140. The company’s shares closed yesterday at $117.78.

van Dijkum noted:

“We are adjusting earnings for FRT, lowering our 2018 outlook by a penny. Based on our updated NAV estimate and yesterday’s closing price, FRT shares trade at a 16% discount to NAV, in-line with its historical relative NAV valuation. We believe that the company’s strong SS NOI and earnings growth momentum, combined with a strong balance sheet, warrant a premium valuation compared to sector peers. We maintain our Outperform rating on FRT shares and believe they will continue to outperform the under-pressure strip sector.”

According to TipRanks.com, Dijkum is a 3-star analyst with an average return of 1.7% and a 53.9% success rate. Dijkum covers the Financial sector, focusing on stocks such as Pennsylvania Real Estate ate Investment, Retail Properties of America Inc, and General Growth Properties Inc.

Currently, the analyst consensus on Federal Realty is Moderate Buy and the average price target is $130.29, representing a 10.6% upside.

In a report issued on May 2, BMO Capital also assigned a Buy rating to the stock with a $142 price target.

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Federal Realty’s market cap is currently $8.62B and has a P/E ratio of 40.88. The company has a Price to Book ratio of 4.12.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock.

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Federal Realty Investment Trust is an equity real estate investment trust, which engages in the ownership, management, acquisition and redevelopment of high quality retail focus properties. The company was founded by Samuel J. Gorlitz in 1962 and is headquartered in Rockville, MD.