Douglas Emmett price target lowered to $14 from $15 at Scotiabank

Scotiabank lowered the firm’s price target on Douglas Emmett to $14 from $15 and keeps a Sector Perform rating on the shares. The firm believes that at a macro level, Real Estate Investment Trusts, REITs, continue to flash mixed-valuation signals, with REITs cheap compared to the S&P 500, but historically pricey compared to bond yields, the analyst tells investors.