Douglas Emmett, Inc. (DEI) Raised to Sell at BidaskClub
BidaskClub upgraded shares of Douglas Emmett, Inc. (NYSE:DEI) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.
Several other equities analysts have also issued reports on the company. Zacks Investment Research upgraded Douglas Emmett from a hold rating to a buy rating and set a $43.00 price objective for the company in a research report on Tuesday, July 18th. DA Davidson lowered Douglas Emmett from a buy rating to a neutral rating and decreased their price objective for the company from $45.00 to $43.00 in a research report on Thursday, May 18th. Barclays PLC decreased their price objective on Douglas Emmett from $36.00 to $35.00 and set an underweight rating for the company in a research report on Tuesday, July 18th. BMO Capital Markets reiterated a hold rating and issued a $39.00 price objective on shares of Douglas Emmett in a research report on Tuesday, July 4th. Finally, Stifel Nicolaus upgraded Douglas Emmett from a hold rating to a buy rating and boosted their target price for the company from $38.00 to $42.00 in a research note on Wednesday, August 2nd. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $39.56.
Shares of Douglas Emmett (NYSE:DEI) opened at 38.09 on Friday. The company has a 50-day moving average of $37.93 and a 200-day moving average of $38.50. Douglas Emmett has a 12-month low of $33.78 and a 12-month high of $40.79. The stock has a market capitalization of $6.20 billion, a P/E ratio of 65.11 and a beta of 0.69.
Douglas Emmett (NYSE:DEI) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Douglas Emmett had a net margin of 12.00% and a return on equity of 2.95%. The business had revenue of $199.60 million during the quarter, compared to analyst estimates of $198.60 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. Douglas Emmett’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities analysts expect that Douglas Emmett will post $0.55 earnings per share for the current fiscal year.
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In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $37.96, for a total value of $3,796,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 300,000 shares of company stock worth $11,490,000 in the last 90 days. Company insiders own 17.80% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Douglas Emmett by 0.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 7,581 shares of the real estate investment trust’s stock worth $290,000 after buying an additional 27 shares in the last quarter. Bollard Group LLC boosted its stake in shares of Douglas Emmett by 0.6% in the second quarter. Bollard Group LLC now owns 15,880 shares of the real estate investment trust’s stock worth $607,000 after buying an additional 92 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Douglas Emmett by 0.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 34,892 shares of the real estate investment trust’s stock worth $1,333,000 after buying an additional 130 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Douglas Emmett by 0.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,433 shares of the real estate investment trust’s stock worth $819,000 after buying an additional 188 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Douglas Emmett by 1.0% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 25,064 shares of the real estate investment trust’s stock worth $962,000 after buying an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 96.16% of the company’s stock.
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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