Douglas Emmett, Inc. (NYSE:DEI) has been assigned a consensus rating of “Hold” from the thirteen research firms that are covering the stock. Three investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $36.65.
Several equities analysts recently weighed in on the company. Wells Fargo & Company lowered Douglas Emmett from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 13th. Stifel Nicolaus upgraded Douglas Emmett from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $30.00 to $38.00 in a research note on Wednesday, February 8th. Zacks Investment Research lowered Douglas Emmett from a “buy” rating to a “hold” rating in a research note on Thursday, December 8th. Mizuho boosted their price objective on Douglas Emmett from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Barclays PLC dropped their price target on Douglas Emmett from $35.00 to $32.00 and set an “underweight” rating for the company in a research report on Monday, January 23rd.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 140,000 shares of the firm’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $35.59, for a total transaction of $4,982,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Dan A. Emmett sold 100,000 shares of the firm’s stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $37.16, for a total value 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 in the last three months. 23.00% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in DEI. American International Group Inc. increased its stake in shares of Douglas Emmett by 1.9% in the third quarter. American International Group Inc. now owns 277,177 shares of the real estate investment trust’s stock valued at $10,153,000 after buying an additional 5,160 shares during the period. BlackRock Advisors LLC increased its stake in shares of Douglas Emmett by 7.8% in the second quarter. BlackRock Advisors LLC now owns 77,515 shares of the real estate investment trust’s stock worth $2,753,000 after buying an additional 5,602 shares during the last quarter. Sei Investments Co. increased its stake in shares of Douglas Emmett by 8.5% in the third quarter. Sei Investments Co. now owns 525,949 shares of the real estate investment trust’s stock worth $19,265,000 after buying an additional 41,084 shares during the last quarter. Duff & Phelps Investment Management Co. increased its stake in shares of Douglas Emmett by 28.3% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,659,594 shares of the real estate investment trust’s stock worth $60,791,000 after buying an additional 366,223 shares during the last quarter. Finally, BlackRock Group LTD increased its stake in shares of Douglas Emmett by 10.7% in the third quarter. BlackRock Group LTD now owns 1,018,676 shares of the real estate investment trust’s stock worth $37,315,000 after buying an additional 98,406 shares during the last quarter. Institutional investors and hedge funds own 99.06% of the company’s stock.
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Shares of Douglas Emmett (NYSE:DEI) opened at 38.94 on Monday. Douglas Emmett has a 12 month low of $24.73 and a 12 month high of $39.25. The company has a market cap of $5.90 billion, a P/E ratio of 70.29 and a beta of 0.76. The stock’s 50 day moving average price is $37.30 and its 200-day moving average price is $36.82.
Douglas Emmett (NYSE:DEI) last announced its quarterly earnings results on Tuesday, February 7th. The real estate investment trust reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.36. Douglas Emmett had a return on equity of 3.03% and a net margin of 11.50%. The firm earned $194.64 million during the quarter, compared to analyst estimates of $192.10 million. During the same quarter in the previous year, the business earned $0.41 EPS. Douglas Emmett’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities research analysts expect that Douglas Emmett will post $0.50 earnings per share for the current year.
About Douglas Emmett
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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