Wells Fargo & Co set a $37.00 price target on Douglas Emmett (NYSE:DEI) in a research note issued to investors on Wednesday, The Fly reports. The brokerage currently has a positive rating on the real estate investment trust’s stock.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Douglas Emmett from a hold rating to a buy rating and set a $42.00 price target on the stock in a research report on Wednesday, October 3rd. TheStreet cut shares of Douglas Emmett from a b- rating to a c+ rating in a research report on Monday, December 3rd. Scotiabank initiated coverage on shares of Douglas Emmett in a research report on Tuesday, October 16th. They set an outperform rating on the stock. Janney Montgomery Scott upgraded shares of Douglas Emmett from a neutral rating to a buy rating and set a $42.00 price objective on the stock in a report on Wednesday, December 19th. Finally, Sandler O’Neill upgraded shares of Douglas Emmett from a hold rating to a buy rating and set a $42.00 price objective on the stock in a report on Thursday, November 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $40.83.
Shares of DEI opened at $36.12 on Wednesday. Douglas Emmett has a 52-week low of $32.32 and a 52-week high of $40.86. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.96 and a current ratio of 1.96. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 2.59 and a beta of 0.65.
Douglas Emmett (NYSE:DEI) last announced its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.33). The firm had revenue of $223.30 million for the quarter, compared to analyst estimates of $222.50 million. Douglas Emmett had a net margin of 14.32% and a return on equity of 3.06%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 EPS. As a group, analysts forecast that Douglas Emmett will post 2.02 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st were paid a dividend of $0.26 per share. The ex-dividend date was Friday, December 28th. This is a positive change from Douglas Emmett’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 2.88%. Douglas Emmett’s dividend payout ratio is 54.74%.
In other Douglas Emmett news, Director William E. Simon, Jr. purchased 8,700 shares of the business’s stock in a transaction on Thursday, December 20th. The shares were bought at an average cost of $34.17 per share, for a total transaction of $297,279.00. Following the completion of the purchase, the director now directly owns 18,400 shares of the company’s stock, valued at $628,728. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.20% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of DEI. Renaissance Technologies LLC increased its stake in Douglas Emmett by 67.4% during the third quarter. Renaissance Technologies LLC now owns 3,524,900 shares of the real estate investment trust’s stock worth $132,959,000 after purchasing an additional 1,419,100 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Douglas Emmett by 15.6% during the third quarter. JPMorgan Chase & Co. now owns 4,221,607 shares of the real estate investment trust’s stock worth $159,239,000 after buying an additional 569,703 shares during the period. BlackRock Inc. increased its stake in shares of Douglas Emmett by 2.6% during the third quarter. BlackRock Inc. now owns 19,613,474 shares of the real estate investment trust’s stock worth $739,819,000 after buying an additional 504,234 shares during the period. Marshall Wace LLP purchased a new stake in shares of Douglas Emmett during the third quarter worth approximately $14,165,000. Finally, Thrivent Financial for Lutherans increased its stake in shares of Douglas Emmett by 78.5% during the third quarter. Thrivent Financial for Lutherans now owns 852,735 shares of the real estate investment trust’s stock worth $32,165,000 after buying an additional 374,985 shares during the period. Institutional investors own 92.34% of the company’s stock.
Douglas Emmett Company Profile
Douglas Emmett, Inc (DEI) is a fully integrated, self-administered and self-managed real estate investment trust (REIT), and one of the largest owners and operators of high-quality office and multifamily properties located in the premier coastal submarkets of Los Angeles and Honolulu. Douglas Emmett 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.
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