FBR Capital Maintains a 'Market Perform' on Douglas Emmett (DEI); Timing of Refinancing to Boost Near-Term FFO; Updating Estimates
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Price: $11.68 -1.77%
Rating Summary:
6 Buy, 19 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 19 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital maintains a 'Market Perform' on Douglas Emmett Inc. (NYSE: DEI), PT increased by $1 to $31.
FBR analys says, "We maintain our rating on shares of DEI and are raising our price target following the release of 1Q11 earnings results and a subsequent update of our earnings and valuation model. The company's firstquarter results were well ahead of FBR and Street expectations due to lower-thanexpected
interest expense. Douglas Emmett refinanced $876 million of debt in 1Q11, a lower volume than expected, leaving $800 million in unswapped term loans
floating at LIBOR +0.85%. This remaining unswappted term loans resulted in the company raising FY2011 FFO per share guidance to a range of $1.27 to $1.35 from the prior range of $1.23 to $1.31."
For more ratings news on Douglas Emmett Inc. click here and for the rating history of Douglas Emmett Inc. click here.
Shares of Douglas Emmett Inc. closed at $20.20 yesterday.
FBR analys says, "We maintain our rating on shares of DEI and are raising our price target following the release of 1Q11 earnings results and a subsequent update of our earnings and valuation model. The company's firstquarter results were well ahead of FBR and Street expectations due to lower-thanexpected
interest expense. Douglas Emmett refinanced $876 million of debt in 1Q11, a lower volume than expected, leaving $800 million in unswapped term loans
floating at LIBOR +0.85%. This remaining unswappted term loans resulted in the company raising FY2011 FFO per share guidance to a range of $1.27 to $1.35 from the prior range of $1.23 to $1.31."
For more ratings news on Douglas Emmett Inc. click here and for the rating history of Douglas Emmett Inc. click here.
Shares of Douglas Emmett Inc. closed at $20.20 yesterday.
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