BMO Capital analyst John Kim lowered the firm’s price target on Douglas Emmett to $12 from $13 and keeps an Underperform rating on the shares after meeting with management. The firm believes the stock is "inexpensive" and risks of default are "low," but has reduced its 2024 occupancy assumptions and 2024 estimates, noting that 36% of Douglas Emmett’s office leases are expiring in 2023-24.
Published first on TheFly
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Read More on DEI:
- Douglas Emmett price target lowered to $16 from $17 at Evercore ISI
- Douglas Emmett price target lowered to $13 from $18 at Piper Sandler
- Douglas Emmett downgraded to Underperform from Market Perform at BMO Capital
- Douglas Emmett sees FY23 FFO $1.87-$1.93, consensus $1.97
- Douglas Emmett reports Q4 FFO 51c, consensus 52c
