Douglas Emmett’s (DEI) “Buy” Rating Reaffirmed at Stifel Nicolaus
Douglas Emmett, Inc. (NYSE:DEI)‘s stock had its “buy” rating reaffirmed by investment analysts at Stifel Nicolaus in a note issued to investors on Thursday. They presently have a $42.00 price objective on the real estate investment trust’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 8.14% from the company’s current price.
DEI has been the topic of a number of other reports. BidaskClub lowered shares of Douglas Emmett from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded Douglas Emmett from a “buy” rating to a “hold” rating in a report on Friday, August 4th. BMO Capital Markets reissued a “hold” rating and issued a $39.00 target price on shares of Douglas Emmett in a report on Tuesday, July 4th. Janney Montgomery Scott assumed coverage on Douglas Emmett in a report on Friday, September 8th. They issued a “neutral” rating for the company. Finally, Barclays PLC reduced their target price on Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Tuesday, July 18th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $39.56.
Douglas Emmett (DEI) traded up 0.44% during trading on Thursday, hitting $39.01. 264,503 shares of the company traded hands. The company’s 50-day moving average is $38.34 and its 200 day moving average is $38.38. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 66.68 and a beta of 0.69. Douglas Emmett has a 52-week low of $33.78 and a 52-week 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 analysts’ consensus estimates of $0.48 by ($0.01). Douglas Emmett had a net margin of 12.00% and a return on equity of 2.95%. The firm had revenue of $199.60 million during the quarter, compared to analysts’ expectations of $198.60 million. During the same quarter last year, the business earned $0.46 earnings per share. The business’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts anticipate that Douglas Emmett will post $0.55 earnings per share for the current year.
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In other news, Chairman Dan A. Emmett sold 100,000 shares of Douglas Emmett stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $37.96, for a total transaction of $3,796,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.80% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Douglas Emmett during the 2nd quarter worth $520,000. Public Employees Retirement System of Ohio raised its stake in shares of Douglas Emmett by 0.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 229,041 shares of the real estate investment trust’s stock worth $8,752,000 after buying an additional 1,241 shares during the last quarter. Koch Industries Inc. acquired a new position in shares of Douglas Emmett during the 2nd quarter worth $349,000. Ameritas Investment Partners Inc. raised its stake in shares of Douglas Emmett by 2.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 43,947 shares of the real estate investment trust’s stock worth $1,679,000 after buying an additional 1,074 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Douglas Emmett during the 2nd quarter worth $479,000. 96.08% of the stock is 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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