Douglas Emmett Inc. (DEI) Reaches New 12-Month High at $38.46
Douglas Emmett Inc. (NYSE:DEI)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $38.46 and last traded at $37.74, with a volume of 236,502 shares. The stock had previously closed at $37.51.
DEI has been the topic of several recent research reports. Evercore ISI lowered Douglas Emmett from a “buy” rating to a “hold” rating and boosted their price target for the stock from $33.00 to $34.00 in a research report on Thursday, May 5th. Credit Suisse Group AG reissued a “sell” rating and set a $29.00 price target on shares of Douglas Emmett in a research report on Thursday, May 5th. Stifel Nicolaus boosted their price target on Douglas Emmett from $23.50 to $30.00 and gave the stock a “sell” rating in a research report on Friday, May 6th. BMO Capital Markets lowered Douglas Emmett from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $35.00 to $34.00 in a research report on Wednesday, June 1st. They noted that the move was a valuation call. Finally, Barclays PLC reissued an “underweight” rating and set a $31.00 price target on shares of Douglas Emmett in a research report on Tuesday, June 28th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $34.42.
The stock’s 50 day moving average is $37.22 and its 200-day moving average is $33.13. The stock has a market cap of $5.74 billion and a price-to-earnings ratio of 96.42.
Douglas Emmett (NYSE:DEI) last issued its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. During the same period in the previous year, the company earned $0.40 earnings per share. The firm earned $187.22 million during the quarter, compared to analyst estimates of $177.61 million. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities research analysts predict that Douglas Emmett Inc. will post $1.79 earnings per share for the current year.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 140,000 shares of the company’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $33.85, for a total value of $4,739,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Douglas Emmett, Inc is a self-administered and self-managed real estate investment trust. The Company is owner and operator of office and multifamily properties located in submarkets in California and Hawaii. The Company operates in two segments: the acquisition, development, ownership and management of office real estate, and the acquisition, development, ownership and management of multifamily real estate.
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