RBC Upgrades BXP, DRE, ARE to Outperform, Downgrades PDM, BDN to Sector Perform

RBC Capital's Dave Rodgers revised investment ratings on a number of stocks in the REIT space Tuesday morning:

• upgraded Boston Properties (NYSE: BXP) from Sector Perform to Outperform, price target raised from $113 to $121
  
• upgraded Duke Realty (NYSE: DRE) from Sector Perform to Outperform, price target maintained at $17
  
• upgraded Alexandria Real Estate (NYSE: ARE) from Sector Perform to Outperform, price target maintained at $88
  
• downgraded Piedmont Office Realty Trust (NYSE: PDM) from Outperform to Sector Perform, $23 price target maintained
  
• downgraded Brandywine (NYSE: BDN) from Outperform to Sector Perform, price target reduced from $14 to $13

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