Douglas Emmett, Inc. (DEI) Coverage Initiated at Janney Montgomery Scott
Equities research analysts at Janney Montgomery Scott initiated coverage on shares of Douglas Emmett, Inc. (NYSE:DEI) in a research report issued to clients and investors on Friday. The brokerage set a “neutral” rating on the real estate investment trust’s stock.
Several other equities analysts also recently commented on DEI. BidaskClub downgraded Douglas Emmett from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded Douglas Emmett from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Stifel Nicolaus raised Douglas Emmett from a “hold” rating to a “buy” rating and increased their price target for the stock from $38.00 to $42.00 in a research report on Tuesday, August 8th. BMO Capital Markets reissued a “hold” rating and set a $39.00 price target on shares of Douglas Emmett in a research report on Tuesday, July 4th. Finally, Barclays PLC dropped their price target on Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 18th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $39.56.
Shares of Douglas Emmett (DEI) traded down 0.13% on Friday, hitting $38.67. 788,551 shares of the stock traded hands. Douglas Emmett has a 52-week low of $33.78 and a 52-week high of $40.79. The firm has a market cap of $6.30 billion, a PE ratio of 66.10 and a beta of 0.69. The firm has a 50 day moving average price of $38.18 and a 200 day moving average price of $38.48.
Douglas Emmett (NYSE:DEI) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The business had revenue of $199.60 million during the quarter, compared to the consensus estimate of $198.60 million. Douglas Emmett had a net margin of 12.00% and a return on equity of 2.95%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $0.46 EPS. On average, equities analysts forecast that Douglas Emmett will post $0.55 EPS for the current year.
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In related news, Chairman Dan A. Emmett sold 100,000 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $37.97, for a total transaction of $3,797,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 300,000 shares of company stock worth $11,490,000. 17.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Douglas Emmett by 0.7% in the second quarter. Vanguard Group Inc. now owns 23,050,527 shares of the real estate investment trust’s stock valued at $880,761,000 after buying an additional 152,639 shares during the last quarter. BlackRock Inc. raised its stake in Douglas Emmett by 3.6% in the second quarter. BlackRock Inc. now owns 16,639,474 shares of the real estate investment trust’s stock valued at $635,797,000 after buying an additional 576,163 shares during the last quarter. FMR LLC raised its stake in Douglas Emmett by 9.8% in the second quarter. FMR LLC now owns 11,749,721 shares of the real estate investment trust’s stock valued at $448,956,000 after buying an additional 1,049,842 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Douglas Emmett by 12.8% in the second quarter. Bank of New York Mellon Corp now owns 7,582,021 shares of the real estate investment trust’s stock valued at $289,711,000 after buying an additional 863,062 shares during the last quarter. Finally, State Street Corp raised its stake in Douglas Emmett by 1.9% in the second quarter. State Street Corp now owns 6,359,006 shares of the real estate investment trust’s stock valued at $242,980,000 after buying an additional 119,090 shares during the last quarter. Institutional investors own 96.16% of the company’s stock.
About Douglas Emmett
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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