Douglas Emmett (NYSE:DEI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.
According to Zacks, “Douglas Emmett, Inc. is a fully integrated, self-administered and self-managed real estate investment trust (REIT), and one of the largest owners and operators of high-quality office and multifamily properties located in the premier coastal submarkets of Los Angeles and Honolulu. Douglas Emmett 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 brokerages have also recently commented on DEI. Piper Sandler increased their target price on Douglas Emmett from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, September 1st. Wells Fargo & Company raised Douglas Emmett from an “equal weight” rating to an “overweight” rating and set a $38.00 target price for the company in a report on Tuesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Douglas Emmett has an average rating of “Buy” and a consensus price target of $37.60.
DEI stock traded up $0.22 during mid-day trading on Friday, reaching $33.01. 2,596,229 shares of the company’s stock were exchanged, compared to its average volume of 1,180,693. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 94.32, a price-to-earnings-growth ratio of 3.46 and a beta of 0.83. The stock’s 50 day moving average is $33.90 and its 200 day moving average is $33.78. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.98 and a quick ratio of 2.98. Douglas Emmett has a 12-month low of $26.45 and a 12-month high of $36.97.
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Douglas Emmett (NYSE:DEI) last issued its quarterly earnings results on Tuesday, November 2nd. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.35). Douglas Emmett had a return on equity of 1.60% and a net margin of 7.11%. During the same period in the previous year, the company posted $0.40 EPS. On average, research analysts forecast that Douglas Emmett will post 1.84 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Douglas Emmett by 18.2% in the second quarter. FMR LLC now owns 15,371,048 shares of the real estate investment trust’s stock valued at $516,776,000 after buying an additional 2,371,107 shares in the last quarter. Brookfield Asset Management Inc. raised its stake in Douglas Emmett by 81.1% in the second quarter. Brookfield Asset Management Inc. now owns 2,521,836 shares of the real estate investment trust’s stock valued at $84,784,000 after buying an additional 1,129,401 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Douglas Emmett by 55.5% in the second quarter. Westfield Capital Management Co. LP now owns 2,973,432 shares of the real estate investment trust’s stock valued at $99,967,000 after buying an additional 1,060,645 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Douglas Emmett by 23.3% in the second quarter. JPMorgan Chase & Co. now owns 5,578,940 shares of the real estate investment trust’s stock valued at $187,564,000 after buying an additional 1,054,833 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Douglas Emmett by 8.3% during the third quarter. Wellington Management Group LLP now owns 7,797,639 shares of the real estate investment trust’s stock worth $246,484,000 after purchasing an additional 600,353 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.
Douglas Emmett Company Profile
Douglas Emmett, Inc is a real estate investment trust, which engages in the acquisition, development, ownership, and management of real estate properties. It operates through the following segments: Office, and Multifamily. The Office segment comprises rental of office space and other tenant services, including parking and storage space rental.
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