Douglas Emmett, Inc. (DEI) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Douglas Emmett, Inc. (NYSE:DEI) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

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. “

Other analysts have also issued reports about the stock. Wells Fargo & Company set a $40.00 price target on shares of Douglas Emmett and gave the stock a buy rating in a research report on Wednesday, November 30th. Barclays PLC dropped their price target on shares of Douglas Emmett from $35.00 to $32.00 and set an underweight rating on the stock in a research report on Monday, January 23rd. Finally, J P Morgan Chase & Co lowered shares of Douglas Emmett from an overweight rating to a neutral rating and set a $38.00 price target on the stock. in a research report on Friday, December 16th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $37.38.

Analyst Recommendations for Douglas Emmett (NYSE:DEI)

Shares of Douglas Emmett (NYSE:DEI) opened at 38.94 on Tuesday. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 70.29 and a beta of 0.76. The stock’s 50 day moving average is $37.30 and its 200 day moving average is $36.82. Douglas Emmett has a 12 month low of $25.04 and a 12 month high of $39.25.

Douglas Emmett (NYSE:DEI) last posted its quarterly earnings results on Tuesday, February 7th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.36. Douglas Emmett had a net margin of 11.50% and a return on equity of 3.03%. The firm had revenue of $194.64 million for the quarter, compared to analyst estimates of $192.10 million. During the same period in the prior year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. Equities research analysts forecast that Douglas Emmett will post $0.50 earnings per share for the current fiscal year.

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In related news, Chairman Dan A. Emmett sold 140,000 shares of the company’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $35.59, for a total value of $4,982,600.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Dan A. Emmett sold 100,000 shares of the company’s stock in a transaction dated Thursday, January 19th. The shares were sold at an average price of $37.16, for a total transaction of $3,716,000.00. The disclosure for this sale can be found here. Insiders sold 357,288 shares of company stock worth $13,026,527 over the last 90 days. 23.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. TLP Group LLC acquired a new position in Douglas Emmett during the third quarter valued at approximately $102,000. Riverhead Capital Management LLC increased its position in Douglas Emmett by 9.5% in the third quarter. Riverhead Capital Management LLC now owns 3,000 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 261 shares during the period. Elkfork Partners LLC acquired a new position in Douglas Emmett during the fourth quarter valued at approximately $219,000. Sumitomo Mitsui Asset Management Company LTD acquired a new position in Douglas Emmett during the third quarter valued at approximately $239,000. Finally, Invictus RG increased its position in Douglas Emmett by 32.7% in the second quarter. Invictus RG now owns 6,642 shares of the real estate investment trust’s stock valued at $236,000 after buying an additional 1,636 shares during the period. Institutional investors and hedge funds own 99.06% of the company’s stock.

Douglas Emmett Company Profile

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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