Before Thursday’s opening bell, a number of big-name, dividend stocks were the subject of analyst moves. Below, we highlight the most important analyst commentary for investors.

1. Washington Federal Downgraded by Macquarie

Macquarie downgraded Washington Federal (WAFD ) from Neutral to Underperform with a price target of $18.00. Shares of Washington Federal closed at $24.07 yesterday. The company pays an annual dividend of $0.52 (paid quarterly).

2. BofA/Merrill Lynch Downgrades Lexington Realty Trust

BofA/Merrill Lynch downgraded Lexington Realty Trust (LXP ) from Buy to Neutral with a price target of $9.75. Shares of Lexington Realty Trust closed at $9.09 yesterday. LXP pays an annual dividend of $0.68 (paid quarterly).

3. BofA/Merrill Lynch Upgrades AT&T

BofA/Merrill Lynch upgraded AT&T (T ) from Neutral to Buy with a price target of $40 (from $35). Shares of AT&T closed at $35.78 yesterday. The company pays an annual dividend of $1.88 (paid quarterly).

4. Goldman Sachs Upgrades Royal Caribbean Cruises

Goldman Sachs upgraded Royal Caribbean Cruises (RCL ) from Neutral to Buy with a price target of $91.00 (from $79.00). Shares of Royal Caribbean Cruises closed at $80.50 yesterday. RCL has an annual payout of $1.20 paid quarterly.