Barclays Maintains an 'Equalweight' Douglas Emmett (DEI); Refi Tailwind Done; Fundamentals Slow
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Price: $11.79 -0.59%
Rating Summary:
6 Buy, 19 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 19 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' Douglas Emmett (NYSE: DEI), lowers price target from $22 to $20.
Barclays analyst says, "The year-over-year SSNOI decline eased somewhat, but suburban office fundamentals remain challenging without a clear near-term catalyst. Meanwhile, the company completed its refinancing plan with better results than expected. While this is good news, future results will no longer benefit from very low floating interest rates. Therefore, we project below-average near-term earnings growth and believe the stock's current valuation is fair on a relative basis (although we believe there is upside on an absolute basis); we maintain our EW rating on the shares."
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 $17.28 yesterday.
Barclays analyst says, "The year-over-year SSNOI decline eased somewhat, but suburban office fundamentals remain challenging without a clear near-term catalyst. Meanwhile, the company completed its refinancing plan with better results than expected. While this is good news, future results will no longer benefit from very low floating interest rates. Therefore, we project below-average near-term earnings growth and believe the stock's current valuation is fair on a relative basis (although we believe there is upside on an absolute basis); we maintain our EW rating on the shares."
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 $17.28 yesterday.
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