Douglas Emmett (NYSE:DEI) Stock Gets Downgrade from Wall Street Zen

Douglas Emmett (NYSE:DEI) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

Several other research analysts also recently weighed in on DEI. JPMorgan Chase & Co. boosted their target price on shares of Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, September 9th. Scotiabank decreased their price target on shares of Douglas Emmett from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 17th. Weiss Ratings downgraded shares of Douglas Emmett from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Piper Sandler cut their price objective on shares of Douglas Emmett from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Finally, Cantor Fitzgerald boosted their price objective on shares of Douglas Emmett from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.14.

Douglas Emmett Stock Performance

NYSE DEI opened at $10.18 on Friday. Douglas Emmett has a fifty-two week low of $9.04 and a fifty-two week high of $12.97. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -78.27 and a beta of 1.18. The business has a fifty day moving average of $10.21 and a 200-day moving average of $10.86. The company has a quick ratio of 2.60, a current ratio of 2.01 and a debt-to-equity ratio of 1.64.

Douglas Emmett (NYSE:DEI) last issued its quarterly earnings data on Tuesday, November 3rd. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.38). The company had revenue of $260.86 million during the quarter, compared to analysts’ expectations of $256.76 million. Douglas Emmett had a negative net margin of 2.04% and a negative return on equity of 0.60%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share. As a group, analysts predict that Douglas Emmett will post 1.41 earnings per share for the current fiscal year.

Institutional Trading of Douglas Emmett

Several institutional investors have recently made changes to their positions in DEI. Aberdeen Group plc increased its stake in Douglas Emmett by 6.1% during the third quarter. Aberdeen Group plc now owns 69,896 shares of the real estate investment trust’s stock worth $670,000 after acquiring an additional 4,003 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in shares of Douglas Emmett by 54.5% in the 3rd quarter. Maryland State Retirement & Pension System now owns 37,845 shares of the real estate investment trust’s stock valued at $363,000 after purchasing an additional 13,348 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Douglas Emmett by 11.2% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 92,554 shares of the real estate investment trust’s stock valued at $887,000 after purchasing an additional 9,355 shares in the last quarter. AlphaCore Capital LLC purchased a new stake in shares of Douglas Emmett during the 3rd quarter worth about $103,000. Finally, Fulcrum Asset Management LLP grew its holdings in shares of Douglas Emmett by 5,480.6% during the 3rd quarter. Fulcrum Asset Management LLP now owns 3,460 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 3,398 shares during the period. 97.37% of the stock is owned by hedge funds and other institutional investors.

About Douglas Emmett

Douglas Emmett, Inc (NYSE: DEI) is a self-administered and self-managed real estate investment trust (REIT) that owns, acquires, develops, redevelops and manages office and multifamily apartment properties. The company focuses on high-quality assets in supply-constrained markets with strong employment and housing demand.

Douglas Emmett’s portfolio is concentrated in Southern California and Honolulu. Its office properties are primarily located in prominent Los Angeles submarkets, including Century City, Brentwood, Westwood, Santa Monica, Warner Center and the Wilshire Corridor.