Piper Sandler analyst Alexander Goldfarb downgraded Douglas Emmett to Neutral from Overweight with an unchanged price target of $15. The analyst cites greater earnings headwinds than anticipated for the downgrade. The firm sees a “tough” earnings outlook for 2024 and 2025 driven by $2.5B of swaps burning off, Barrington redevelopment, and the planned move-out of Warner Brothers at the end of 2024.
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Read More on DEI:
- Douglas Emmett price target raised to $15 from $14 at Evercore ISI
- Douglas Emmett downgraded to Underperform from Neutral at BofA
- Douglas Emmett lowers FY23 FFO view to $1.81-$1.85 from $1.87-$1.93
- Douglas Emmett reports Q2 adjusted FFO 48c, consensus 47c
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