The favia is not abnormal to be unpuffed but at that state maybe a day or two. If longer than that it may not be happy.
Not sure if I understand your perimeter numbers. Salinity 0.27? Do you mean 1.027? If so it is just a bit high. Should be 1.024-1.026. Your mag is high on its own but especially when is balance with alk and calcium. Those two are more in normal range. Mag is generally kept about 3x the calcium level. Two important numbers are missing ph and phosphates.
The salinty and mag are high but if you acclimated the frag correctly, i acclimate 2-3 hours, those may not be your issue. In the picture you have it near a war coral, which is favia cousin and looks fine. The newer favia may need time to adjust to your water. The greater your water differs from water where it was obtained the longer the coral needs to adjust.
Try moving it to a lower light area and see if it responds after a few days. Your light may be fine but still may be higher than where it has been living.