Douglas Emmett, Inc. (NYSE:DEI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, October 16th.
According to Zacks, “DOUGLAS EMMETT INC is a fully integrated, self-administered and self-managed real estate investment trust and one of the largest owners and operators of high-quality office and multifamily properties located in premier submarkets in California and Hawaii. The Company’s properties are concentrated in ten submarkets Brentwood, Olympic Corridor, Century City, Santa Monica, Beverly Hills, Westwood, Sherman Oaks/Encino, Warner Center/Woodland Hills, Burbank and Honolulu. The Company focuses on owning and acquiring a substantial share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive housing and key lifestyle amenities. “
A number of other research analysts have also weighed in on DEI. BidaskClub downgraded Douglas Emmett from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. BMO Capital Markets reiterated a “hold” rating and issued a $39.00 price target on shares of Douglas Emmett in a report on Tuesday, July 4th. Barclays PLC lowered their price target on Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Tuesday, July 18th. Stifel Nicolaus upgraded Douglas Emmett from a “hold” rating to a “buy” rating and increased their price target for the company from $38.00 to $42.00 in a report on Wednesday, August 2nd. They noted that the move was a valuation call. Finally, Janney Montgomery Scott initiated coverage on Douglas Emmett in a report on Friday, September 8th. They issued a “neutral” rating for the company. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $39.78.
Douglas Emmett (NYSE DEI) traded up 1.20% during midday trading on Monday, reaching $39.74. The company had a trading volume of 574,128 shares. The company has a market capitalization of $6.47 billion, a P/E ratio of 67.93 and a beta of 0.70. The firm has a 50-day moving average of $39.58 and a 200 day moving average of $38.65. Douglas Emmett has a 1-year low of $33.78 and a 1-year high of $41.12.
Douglas Emmett (NYSE:DEI) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share (EPS) 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 company had revenue of $199.60 million during the quarter, compared to analysts’ expectations of $198.60 million. During the same period in the previous year, the company posted $0.46 EPS. Douglas Emmett’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts forecast that Douglas Emmett will post $0.56 EPS for the current year.
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In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $37.96, for a total value of $3,796,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 17.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of DEI. PNC Financial Services Group Inc. increased its stake in shares of Douglas Emmett by 9.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 299 shares during the period. Virtu KCG Holdings LLC acquired a new position in Douglas Emmett in the second quarter worth approximately $206,000. Riverhead Capital Management LLC grew its position in Douglas Emmett by 68.1% in the second quarter. Riverhead Capital Management LLC now owns 6,220 shares of the real estate investment trust’s stock worth $238,000 after buying an additional 2,520 shares during the last quarter. TLP Group LLC acquired a new position in Douglas Emmett in the second quarter worth approximately $248,000. Finally, Fox Run Management L.L.C. acquired a new position in Douglas Emmett in the second quarter worth approximately $260,000. Institutional investors and hedge funds own 96.04% of the company’s stock.
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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