TheStreet Upgrades Douglas Emmett, Inc. (DEI) to B-
Douglas Emmett, Inc. (NYSE:DEI) was upgraded by equities research analysts at TheStreet from a “c+” rating to a “b-” rating in a report issued on Wednesday.
Other research analysts have also issued reports about the stock. Stifel Nicolaus restated a “buy” rating and issued a $42.00 price objective on shares of Douglas Emmett in a report on Thursday, September 21st. Zacks Investment Research upgraded shares of Douglas Emmett from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Tuesday, July 18th. KeyCorp restated a “hold” rating on shares of Douglas Emmett in a report on Sunday, September 24th. Mizuho restated a “hold” rating and issued a $41.00 price objective on shares of Douglas Emmett in a report on Friday, October 27th. Finally, Janney Montgomery Scott initiated coverage on shares of Douglas Emmett in a report on Friday, September 8th. They issued a “neutral” rating for the company. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $40.60.
Douglas Emmett (DEI) opened at $40.68 on Wednesday. Douglas Emmett has a 1-year low of $34.89 and a 1-year high of $41.12. The company has a market cap of $6,821.70, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 3.30 and a beta of 0.72.
Douglas Emmett (NYSE:DEI) last issued its quarterly earnings data on Tuesday, November 7th. The real estate investment trust reported $0.48 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. Douglas Emmett had a net margin of 11.29% and a return on equity of 2.58%. The business had revenue of $208.75 million during the quarter, compared to analyst estimates of $203.99 million. During the same period in the prior year, the business earned $0.47 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. equities analysts forecast that Douglas Emmett will post 1.9 EPS for the current year.
In related news, Chairman Dan A. Emmett sold 100,000 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $38.99, for a total value of $3,899,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 17.80% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake in shares of Douglas Emmett by 9.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the real estate investment trust’s stock worth $139,000 after acquiring an additional 299 shares in the last quarter. 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 valued at $160,000 after purchasing an additional 3,328 shares during the last quarter. Virtu KCG Holdings LLC purchased a new stake in Douglas Emmett during the 2nd quarter valued at about $206,000. CIBC Asset Management Inc purchased a new stake in Douglas Emmett during the 3rd quarter valued at about $206,000. Finally, Timber Hill LLC purchased a new stake in Douglas Emmett during the 3rd quarter valued at about $206,000. Institutional investors own 95.88% of the company’s stock.
About Douglas Emmett
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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