J.P. Morgan Overweight On Federal Realty Investment Trust

J.P. Morgan Chase & Co. is out with a research report on Federal Realty Investment Trust FRT with an Overweight rating and a $89 price target on shares. In a note to clients, J.P. Morgan Chase & Co. writes, "FRT increased its full year 2011 FFO/share guidance by $0.03 at the midpoint. Specifically, it raised the range to $3.99 - $4.04 from $3.95 - $4.02. The midpoint of the new guidance is $0.03 higher than our current 2011 FFO/share forecast. We will revisit our estimates shortly, but we believe Street estimates should have an upward bias." Shares of FRT lost 45 cents yesterday to close at $83.78.