Douglas Emmett Inc. (DEI) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Douglas Emmett Inc. (NYSE:DEI) from a hold rating to a buy rating in a report released on Wednesday morning. The firm currently has $40.00 price target on the real estate investment trust’s stock.
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. “
Several other research firms have also issued reports on DEI. Barclays PLC boosted their target price on shares of Douglas Emmett from $33.00 to $35.00 and gave the company an underweight rating in a report on Monday, August 29th. BTIG Research began coverage on shares of Douglas Emmett in a report on Thursday, August 25th. They issued a neutral rating on the stock. DA Davidson boosted their target price on shares of Douglas Emmett from $43.00 to $45.00 and gave the company a buy rating in a report on Thursday, August 4th. Mizuho lowered shares of Douglas Emmett from a buy rating to a neutral rating and set a $37.00 target price on the stock. in a report on Thursday, August 4th. Finally, Citigroup Inc. boosted their target price on shares of Douglas Emmett from $30.50 to $35.50 and gave the company a neutral rating in a report on Thursday, July 7th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $35.29.
Douglas Emmett (NYSE:DEI) opened at 35.29 on Wednesday. The firm has a market capitalization of $5.33 billion, a P/E ratio of 89.57 and a beta of 0.93. The stock’s 50 day moving average is $36.83 and its 200-day moving average is $34.72. Douglas Emmett has a 1-year low of $24.73 and a 1-year high of $38.71.
Douglas Emmett (NYSE:DEI) last issued its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $187.22 million for the quarter, compared to analyst estimates of $177.61 million. Douglas Emmett had a net margin of 8.88% and a return on equity of 2.45%. Douglas Emmett’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 earnings per share. Analysts forecast that Douglas Emmett will post $1.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Wednesday, September 28th. Douglas Emmett’s payout ratio is presently 225.65%.
In other news, Chairman Dan A. Emmett sold 140,000 shares of the business’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $35.75, for a total transaction of $5,005,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 23.00% of the company’s stock.
Large investors have recently bought and sold shares of the company. Aperio Group LLC increased its stake in Douglas Emmett by 17.2% in the first quarter. Aperio Group LLC now owns 29,733 shares of the real estate investment trust’s stock valued at $895,000 after buying an additional 4,373 shares during the last quarter. Nisa Investment Advisors L.L.C. acquired a new stake in Douglas Emmett during the first quarter valued at approximately $542,000. Virginia Retirement System acquired a new stake in Douglas Emmett during the first quarter valued at approximately $1,253,000. Teachers Advisors Inc. increased its stake in Douglas Emmett by 5.5% in the first quarter. Teachers Advisors Inc. now owns 132,078 shares of the real estate investment trust’s stock valued at $3,977,000 after buying an additional 6,867 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Douglas Emmett by 739.2% in the first quarter. Prudential Financial Inc. now owns 725,723 shares of the real estate investment trust’s stock valued at $21,851,000 after buying an additional 639,240 shares during the last quarter. 97.75% 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. 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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