Zacks Investment Research Downgrades Douglas Emmett Inc. (DEI) to Hold
Douglas Emmett Inc. (NYSE:DEI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “DOUGLAS EMMETT INC is a fully integrated, self-administered and self-managed real estate investment trust and one of the largest owners and operators of high-quality office and multifamily properties located in premier submarkets in California and Hawaii. The Company’s properties are concentrated in ten submarkets Brentwood, Olympic Corridor, Century City, Santa Monica, Beverly Hills, Westwood, Sherman Oaks/Encino, Warner Center/Woodland Hills, Burbank and Honolulu. The Company focuses on owning and acquiring a substantial share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive housing and key lifestyle amenities. “
A number of other equities analysts have also recently weighed in on DEI. Mizuho cut Douglas Emmett from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Thursday, August 4th. DA Davidson increased their price target on Douglas Emmett from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. BTIG Research started coverage on Douglas Emmett in a report on Thursday, August 25th. They set a “neutral” rating for the company. Barclays PLC increased their price target on Douglas Emmett from $33.00 to $35.00 and gave the stock an “underweight” rating in a report on Monday, August 29th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $38.00 price target on shares of Douglas Emmett in a report on Friday, November 11th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Douglas Emmett presently has an average rating of “Hold” and an average price target of $35.79.
Douglas Emmett (NYSE:DEI) opened at 35.87 on Tuesday. Douglas Emmett has a one year low of $24.73 and a one year high of $38.71. The firm has a 50-day moving average of $35.70 and a 200-day moving average of $35.74. The company has a market capitalization of $5.44 billion, a P/E ratio of 68.85 and a beta of 0.86.
Douglas Emmett (NYSE:DEI) last released its quarterly earnings results on Tuesday, November 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The business earned $192.12 million during the quarter, compared to analysts’ expectations of $104.86 million. Douglas Emmett had a return on equity of 3.04% and a net margin of 11.27%. The company’s revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 EPS. On average, analysts anticipate that Douglas Emmett will post $1.80 earnings per share for the current year.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 140,000 shares of the stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $36.48, for a total value of $5,107,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 23.00% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of DEI. Legal & General Group Plc raised its stake in Douglas Emmett by 3.0% in the first quarter. Legal & General Group Plc now owns 304,440 shares of the real estate investment trust’s stock worth $9,167,000 after buying an additional 8,769 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Douglas Emmett during the first quarter valued at $226,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Douglas Emmett by 3.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 134,453 shares of the real estate investment trust’s stock valued at $4,048,000 after buying an additional 4,048 shares during the period. Arizona State Retirement System raised its stake in shares of Douglas Emmett by 4.3% in the first quarter. Arizona State Retirement System now owns 72,936 shares of the real estate investment trust’s stock valued at $2,196,000 after buying an additional 3,000 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of Douglas Emmett during the first quarter valued at $725,000. 99.18% of the stock is currently owned by institutional investors.
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Douglas Emmett Company Profile
Douglas Emmett, Inc is a self-administered and self-managed real estate investment trust. The Company is owner and operator of office and multifamily properties located in submarkets in California and Hawaii. The Company operates in two segments: the acquisition, development, ownership and management of office real estate, and the acquisition, development, ownership and management of multifamily real estate.
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