Douglas Emmett, Inc. (NYSE:DEI) was upgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report issued on Tuesday, August 8th. The firm presently has a $42.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $38.00. Stifel Nicolaus’ target price would suggest a potential upside of 11.85% from the stock’s previous close.
A number of other analysts also recently issued reports on DEI. Zacks Investment Research downgraded Douglas Emmett from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. BidaskClub raised Douglas Emmett from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. BMO Capital Markets reaffirmed a “hold” rating and issued a $39.00 target price on shares of Douglas Emmett in a research note on Tuesday, July 4th. Barclays PLC cut their target price on Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating for the company in a research note on Tuesday, July 18th. Finally, DA Davidson downgraded Douglas Emmett from a “buy” rating to a “neutral” rating and cut their target price for the stock from $45.00 to $43.00 in a research note on Thursday, May 18th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Douglas Emmett presently has a consensus rating of “Hold” and a consensus target price of $39.56.
Shares of Douglas Emmett (NYSE DEI) traded down 0.84% during midday trading on Tuesday, reaching $37.55. 2,323,587 shares of the company traded hands. Douglas Emmett has a 1-year low of $33.78 and a 1-year high of $40.79. The firm has a market capitalization of $6.12 billion, a PE ratio of 64.19 and a beta of 0.69. The stock has a 50 day moving average price of $37.94 and a 200 day moving average price of $38.49.
Douglas Emmett (NYSE:DEI) last announced 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 in the previous year, the business posted $0.46 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts expect that Douglas Emmett will post $0.55 earnings per share for the current fiscal 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 dated Friday, June 16th. The stock was sold at an average price of $38.97, for a total value of $3,897,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 17.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC increased its position in Douglas Emmett by 372.6% in the first quarter. Citadel Advisors LLC now owns 29,869 shares of the real estate investment trust’s stock valued at $1,147,000 after buying an additional 23,549 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of Douglas Emmett by 3.1% in the first quarter. Capstone Asset Management Co. now owns 11,248 shares of the real estate investment trust’s stock valued at $432,000 after buying an additional 340 shares during the last quarter. Clinton Group Inc. bought a new position in shares of Douglas Emmett during the first quarter valued at about $222,000. Mutual of America Capital Management LLC boosted its position in shares of Douglas Emmett by 6.4% in the first quarter. Mutual of America Capital Management LLC now owns 117,069 shares of the real estate investment trust’s stock valued at $4,495,000 after buying an additional 7,005 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Douglas Emmett by 8.8% in the second quarter. State of Alaska Department of Revenue now owns 39,400 shares of the real estate investment trust’s stock valued at $1,504,000 after buying an additional 3,190 shares during the last quarter. 93.86% of the stock is owned by institutional investors.
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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