Truist analyst Ki Bin Kim lowered the firm’s price target on Federal Realty to $108 from $110 and keeps a Hold rating on the shares. The analyst is adjusting the firm’s model after its recent meeting with the management. While the company remains bullish on prospects for office leasing at Santana West and 915 Meeting as tenant interest has been healthy, supported by flight to quality trends in office, Truist remains neutral on the stock due to valuation, the firm tells investors in a research note.
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