Douglas Emmett, Inc. (DEI) Upgraded to “Buy” by Stifel Nicolaus
Douglas Emmett, Inc. (NYSE:DEI) was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $42.00 price target on the real estate investment trust’s stock, up from their prior price target of $38.00. Stifel Nicolaus’ target price indicates a potential upside of 10.09% from the stock’s current price.
Other research analysts have also recently issued reports about the company. BidaskClub raised Douglas Emmett from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Zacks Investment Research raised Douglas Emmett from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, April 11th. Barclays PLC lowered their price objective 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. DA Davidson downgraded Douglas Emmett from a “buy” rating to a “neutral” rating and decreased their target price for the company from $45.00 to $43.00 in a research note on Thursday, May 18th. Finally, BMO Capital Markets reissued a “hold” rating and set a $39.00 target price on shares of Douglas Emmett in a research note on Tuesday, July 4th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $39.56.
Douglas Emmett (DEI) traded down 0.63% during mid-day trading on Tuesday, reaching $38.15. 534,304 shares of the company’s stock traded hands. The company has a 50 day moving average price of $38.14 and a 200-day moving average price of $38.47. The stock has a market cap of $5.95 billion, a P/E ratio of 65.21 and a beta of 0.69. Douglas Emmett has a 12 month low of $33.78 and a 12 month high of $40.79.
Douglas Emmett (NYSE:DEI) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $199.60 million for the quarter, compared to analysts’ expectations of $198.60 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts anticipate that Douglas Emmett will post $0.54 EPS for the current year.
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In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of Douglas Emmett 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 filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 300,000 shares of company stock worth $11,487,000 in the last three months. 17.80% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Meag Munich Ergo Kapitalanlagegesellschaft purchased a new stake in Douglas Emmett during the third quarter worth about $4,743,000. California Public Employees Retirement System increased its stake in Douglas Emmett by 1.0% in the fourth quarter. California Public Employees Retirement System now owns 346,445 shares of the real estate investment trust’s stock worth $10,802,000 after buying an additional 3,500 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Douglas Emmett by 19.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,748,280 shares of the real estate investment trust’s stock worth $148,051,000 after buying an additional 776,500 shares during the last quarter. Rhumbline Advisers increased its stake in Douglas Emmett by 2.1% in the fourth quarter. Rhumbline Advisers now owns 226,577 shares of the real estate investment trust’s stock worth $7,065,000 after buying an additional 4,584 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Douglas Emmett by 188.2% in the fourth quarter. First Trust Advisors LP now owns 145,774 shares of the real estate investment trust’s stock worth $4,545,000 after buying an additional 95,195 shares during the last quarter. 97.43% of the stock is currently 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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