Truist analyst Ki Bin Kim downgraded Federal Realty (FRT) to Hold from Buy with a price target of $105, down from $114, due to near-term uncertainty weighing on the Washington D.C. market stemming from President Trump and DOGE’s efforts to reduce the size of the federal government and spending. 25% of Federal Realty’s assets are located in the D.C. area, notes the analyst, who also cites a preference for less expensive retail REITs.
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