Piper Sandler Downgrades Douglas Emmett Inc. (DEI) to Neutral, 'earnings headwinds bigger than we thought'

Piper Sandler analyst Alexander Goldfarb downgraded Douglas Emmett Inc. (NYSE: DEI) from Overweight to Neutral with a price target of $15.00.

The analyst comments "DEI's earnings headwinds bigger than we thought. Our downgrade of DEI to Neutral from OW reflects the tough earnings outlook for 2024 and 2025 driven by $2.5b of swaps burning off, Barrington redevelopment (fire safety upgrade), and the planned move-out of Warner Brothers at the end of 2024. We continue to like DEI's Westside LA portfolio and multifamily opportunity, especially in Hawaii, but it's hard for us to maintain an OW given the current forecasted decline in earnings."

For an analyst ratings summary and ratings history on Douglas Emmett Inc. click here. For more ratings news on Douglas Emmett Inc. click here.

Shares of Douglas Emmett Inc. closed at $14.03 yesterday.

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