Douglas Emmett, Inc. (NYSE:DEI) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Douglas Emmett, Inc. (NYSE:DEI) from a buy rating to a hold rating in a research note issued to investors on Friday.
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 equities research analysts also recently weighed in on the company. Stifel Nicolaus raised Douglas Emmett from a hold rating to a buy rating and increased their price target for the stock from $38.00 to $42.00 in a research report on Wednesday, August 2nd. They noted that the move was a valuation call. Barclays PLC cut their price target on Douglas Emmett from $36.00 to $35.00 and set an underweight rating on the stock in a research report on Tuesday, July 18th. BMO Capital Markets reaffirmed a hold rating and set a $39.00 price target on shares of Douglas Emmett in a research report on Tuesday, July 4th. BidaskClub lowered shares of Douglas Emmett from a hold rating to a sell rating in a research note on Saturday, June 24th. Finally, DA Davidson lowered shares of Douglas Emmett from a buy rating to a neutral rating and lowered their target price for the stock from $45.00 to $43.00 in a research note on Thursday, May 18th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $39.56.
Douglas Emmett (DEI) opened at 38.39 on Friday. Douglas Emmett has a 52-week low of $33.78 and a 52-week high of $40.79. The stock has a market capitalization of $5.98 billion, a P/E ratio of 65.62 and a beta of 0.69. The company’s 50-day moving average price is $38.21 and its 200 day moving average price is $38.47.
Douglas Emmett (NYSE:DEI) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by $0.01. The company had revenue of $199.60 million for the quarter, compared to analyst estimates of $198.60 million. Douglas Emmett had a return on equity of 2.95% and a net margin of 12.00%. Douglas Emmett’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 earnings per share. On average, equities research analysts predict that Douglas Emmett will post $0.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Wednesday, June 28th. Douglas Emmett’s payout ratio is currently 155.93%.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $37.97, for a total value of $3,797,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 300,000 shares of company stock worth $11,487,000. Corporate insiders own 17.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of DEI. American Century Companies Inc. acquired a new position in shares of Douglas Emmett during the second quarter valued at approximately $25,319,000. GAM Holding AG boosted its position in shares of Douglas Emmett by 6.9% in the second quarter. GAM Holding AG now owns 12,492 shares of the real estate investment trust’s stock valued at $477,000 after buying an additional 804 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Douglas Emmett during the second quarter valued at approximately $17,506,000. AEW Capital Management L P boosted its position in shares of Douglas Emmett by 0.9% in the second quarter. AEW Capital Management L P now owns 1,264,261 shares of the real estate investment trust’s stock valued at $48,307,000 after buying an additional 11,700 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Douglas Emmett by 25.9% in the second quarter. BNP Paribas Arbitrage SA now owns 103,558 shares of the real estate investment trust’s stock valued at $3,957,000 after buying an additional 21,296 shares in the last quarter. 97.43% of the stock is owned by institutional investors.
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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