Douglas Emmett (NYSE:DEI) Stock Rating Upgraded by Zacks Investment Research

Douglas Emmett (NYSE:DEI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, Zacks.com reports. The brokerage presently has a $40.00 price objective on the real estate investment trust’s stock. Zacks Investment Research’s target price would suggest a potential upside of 9.65% from the stock’s current price.

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. “

Separately, Wells Fargo & Company raised Douglas Emmett from an “equal weight” rating to an “overweight” rating and set a $38.00 price objective on the stock in a report on Tuesday, December 14th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $37.80.

Shares of DEI stock traded up $0.56 during mid-day trading on Friday, hitting $36.48. 1,026,794 shares of the stock were exchanged, compared to its average volume of 1,066,019. The stock’s fifty day simple moving average is $34.26 and its two-hundred day simple moving average is $33.59. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 104.23, a P/E/G ratio of 3.47 and a beta of 0.83. Douglas Emmett has a 12-month low of $26.45 and a 12-month high of $36.97. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.98 and a current ratio of 2.98.

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Douglas Emmett (NYSE:DEI) last released its quarterly earnings results on Tuesday, November 2nd. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 business posted $0.40 EPS. On average, research analysts expect that Douglas Emmett will post 1.84 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of DEI. Dark Forest Capital Management LP acquired a new stake in Douglas Emmett during the second quarter worth about $37,000. AGF Investments Inc. bought a new position in Douglas Emmett in the 3rd quarter worth about $183,000. CIBC Asset Management Inc bought a new position in Douglas Emmett in the 3rd quarter worth about $202,000. Inspire Investing LLC bought a new position in Douglas Emmett in the 3rd quarter worth about $227,000. Finally, Van ECK Associates Corp grew its position in Douglas Emmett by 15.6% in the 3rd quarter. Van ECK Associates Corp now owns 7,807 shares of the real estate investment trust’s stock worth $247,000 after purchasing an additional 1,055 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

About Douglas Emmett

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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Analyst Recommendations for Douglas Emmett (NYSE:DEI)

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