As previously reported, Scotiabank upgraded Douglas Emmett (DEI) to Outperform from Sector Perform with a price target of $21, up from $16, to reflect increased confidence that office occupancy bottoms in Q4 and grows in 2025 and 2026. The firm was “encouraged” by the improvement in Q3 leasing metrics and sees benefits from the company’s higher-than-West Coast peers retention ratio, paired with a more manageable upcoming lease expiration profile, the analyst tells investors.
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