Douglas Emmett, Inc. (DEI) Upgraded to “Buy” at Zacks Investment Research
Douglas Emmett, Inc. (NYSE:DEI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $43.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.36% from the company’s current price.
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. “
DEI has been the subject of several other research reports. BMO Capital Markets reiterated a “hold” rating and set a $39.00 target price on shares of Douglas Emmett in a research report on Tuesday, July 4th. J P Morgan Chase & Co increased their target price on Douglas Emmett from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, April 3rd. BidaskClub cut Douglas Emmett from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. DA Davidson cut Douglas Emmett from a “buy” rating to a “neutral” rating and cut their target price for the stock from $45.00 to $43.00 in a research report on Thursday, May 18th. Finally, Barclays PLC increased their target price on Douglas Emmett from $35.00 to $36.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 19th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $39.11.
Shares of Douglas Emmett (DEI) traded down 1.16% on Tuesday, hitting $37.60. The stock had a trading volume of 548,208 shares. The stock has a market capitalization of $5.81 billion, a P/E ratio of 65.39 and a beta of 0.69. Douglas Emmett has a 52 week low of $33.78 and a 52 week high of $40.79. The firm has a 50-day moving average price of $38.47 and a 200-day moving average price of $38.27.
Douglas Emmett (NYSE:DEI) last released its earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. Douglas Emmett had a return on equity of 3.06% and a net margin of 11.97%. The firm had revenue of $170.35 million during the quarter, compared to analysts’ expectations of $191.93 million. Equities analysts expect that Douglas Emmett will post $0.54 earnings per share for the current fiscal year.
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In other news, Chairman Dan A. Emmett sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $37.93, for a total value of $3,793,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 300,000 shares of company stock valued at $11,609,000 over the last ninety days. Corporate insiders own 23.00% of the company’s stock.
Several large investors have recently bought and sold shares of DEI. PNC Financial Services Group Inc. raised its stake in Douglas Emmett by 9.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 299 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in Douglas Emmett during the fourth quarter valued at about $149,000. Tyers Asset Management LLC raised its stake in Douglas Emmett by 23.5% in the first quarter. Tyers Asset Management LLC now owns 5,376 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 1,024 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in Douglas Emmett during the fourth quarter valued at about $204,000. Finally, Clinton Group Inc. bought a new stake in Douglas Emmett during the first quarter valued at about $222,000. 97.15% of the stock is owned by institutional investors and hedge funds.
Douglas Emmett Company Profile
Douglas Emmett, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is owner and operator of office and multifamily properties located in submarkets in Los Angeles and Honolulu. The Company operates through two segments: the acquisition, development, ownership and management of office real estate (Office Segment), and the acquisition, development, ownership and management of multifamily real estate (Multifamily Segment).
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