Douglas Emmett (DEI) Upgraded to “Hold” at Zacks Investment Research
Douglas Emmett (NYSE:DEI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
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 equities analysts have also recently issued reports on DEI. Stifel Nicolaus reissued a “buy” rating and issued a $42.00 target price on shares of Douglas Emmett in a report on Thursday, September 21st. KeyCorp reissued a “hold” rating on shares of Douglas Emmett in a report on Sunday, September 24th. Mizuho reissued a “hold” rating and issued a $41.00 target price on shares of Douglas Emmett in a report on Friday, October 27th. Robert W. Baird increased their target price on Douglas Emmett from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. Finally, TheStreet raised Douglas Emmett from a “c+” rating to a “b-” rating in a report on Wednesday, November 15th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Douglas Emmett presently has an average rating of “Hold” and an average target price of $41.38.
Shares of Douglas Emmett (NYSE DEI) traded down $0.01 on Monday, hitting $39.77. The stock had a trading volume of 1,490,700 shares, compared to its average volume of 1,042,300. Douglas Emmett has a fifty-two week low of $35.98 and a fifty-two week high of $41.59. The firm has a market cap of $6,700.00, a PE ratio of 76.48, a PEG ratio of 3.10 and a beta of 0.71.
Douglas Emmett (NYSE:DEI) last issued its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.48. Douglas Emmett had a return on equity of 2.58% and a net margin of 11.29%. The business had revenue of $208.75 million during the quarter, compared to analysts’ expectations of $203.99 million. During the same period in the prior year, the firm posted $0.47 EPS. Douglas Emmett’s quarterly revenue was up 8.7% compared to the same quarter last year. equities analysts expect that Douglas Emmett will post 1.9 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. grew its position in Douglas Emmett by 451.6% during the 3rd quarter. Advisor Group Inc. now owns 4,065 shares of the real estate investment trust’s stock worth $160,000 after acquiring an additional 3,328 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Douglas Emmett by 14.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,120 shares of the real estate investment trust’s stock worth $158,000 after acquiring an additional 520 shares during the last quarter. CIBC Asset Management Inc bought a new stake in Douglas Emmett during the 3rd quarter worth approximately $206,000. Timber Hill LLC bought a new stake in Douglas Emmett during the 3rd quarter worth approximately $206,000. Finally, Virtu KCG Holdings LLC bought a new stake in Douglas Emmett during the 2nd quarter worth approximately $206,000. Institutional investors and hedge funds own 96.42% 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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