Robert W. Baird Boosts Douglas Emmett, Inc. (DEI) Price Target to $47.00
Douglas Emmett, Inc. (NYSE:DEI) had its price target raised by Robert W. Baird from $45.00 to $47.00 in a research report report published on Friday morning. Robert W. Baird currently has an outperform rating on the real estate investment trust’s stock.
DEI has been the subject of several other reports. Stifel Nicolaus reiterated a buy rating and issued a $42.00 target price on shares of Douglas Emmett in a report on Thursday, September 21st. Zacks Investment Research upgraded shares of Douglas Emmett from a hold rating to a buy rating and set a $43.00 target price for the company in a report on Tuesday, July 18th. Mizuho reiterated a hold rating and issued a $41.00 target price on shares of Douglas Emmett in a report on Friday, October 27th. KeyCorp reiterated a hold rating on shares of Douglas Emmett in a report on Sunday, September 24th. Finally, Barclays PLC decreased their target price on shares of Douglas Emmett from $36.00 to $35.00 and set an underweight rating for the company in a report on Tuesday, July 18th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $40.60.
Shares of Douglas Emmett (DEI) traded up $0.05 on Friday, hitting $40.13. 571,900 shares of the company’s stock traded hands, compared to its average volume of 747,638. Douglas Emmett has a one year low of $33.78 and a one year high of $41.12. The firm has a market capitalization of $6,803.05, a PE ratio of 21.23, a price-to-earnings-growth ratio of 3.22 and a beta of 0.72.
Douglas Emmett (NYSE:DEI) last announced its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.48 EPS for the quarter, hitting the consensus estimate of $0.48. Douglas Emmett had a net margin of 11.29% and a return on equity of 2.58%. The company had revenue of $208.75 million during the quarter, compared to analysts’ expectations of $203.99 million. During the same period last year, the company posted $0.47 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. equities research analysts forecast that Douglas Emmett will post 1.9 earnings per share for the current fiscal year.
In related news, Chairman Dan A. Emmett sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $38.99, for a total transaction of $3,899,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 17.80% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Douglas Emmett by 0.7% during 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 acquiring an additional 152,639 shares in the last quarter. BlackRock Inc. raised its position in Douglas Emmett by 3.6% during 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 acquiring an additional 576,163 shares in the last quarter. FMR LLC raised its position in Douglas Emmett by 9.8% during 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 acquiring an additional 1,049,842 shares in the last quarter. Bank of New York Mellon Corp raised its position in Douglas Emmett by 12.8% during 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 acquiring an additional 863,062 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Douglas Emmett by 4.0% during the third quarter. Daiwa Securities Group Inc. now owns 6,425,963 shares of the real estate investment trust’s stock valued at $253,311,000 after acquiring an additional 247,203 shares in the last quarter. 95.88% of the stock is currently owned by hedge funds and other institutional investors.
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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