Stifel Upgrades DCT Industrial Trust And Douglas Emmett

John Guinee of Stifel upgraded shares of

to Buy from Hold with a $38 price target. At the same time, the analyst also upgraded shares of

to Hold from Sell. Guinee upgraded DCT Industrial Trust as he believes a dividend increase in 2015 is likely. The analyst also notes the company has a “prudent, but largely speculative” development pipeline at rates that are accretive to FFO and NAV. In addition, the company also has a “clean” balance sheet, led by a “solid” management team. Guinee upgraded Douglas Emmet as a positive catalyst may come in the form of “very aggressive” pricing of West Los Angeles office assets. The analyst notes that if the expected sale of the six million square foot $3.0 billion

portfolio sells to a firm besides Douglas Emmet, the company may “win by losing.” Alternatively, if Douglas Emmett prevails, it may “lose by winning.”