Douglas Emmett (NYSE:DEI) Downgraded by Zacks Investment Research

Share on StockTwits

Zacks Investment Research lowered shares of Douglas Emmett (NYSE:DEI) from a hold rating to a sell rating in a report released on Monday, 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. “

Several other research analysts have also recently weighed in on DEI. Jefferies Financial Group cut Douglas Emmett from a buy rating to a hold rating and lowered their price objective for the stock from $34.00 to $32.00 in a research report on Wednesday, August 12th. Wells Fargo & Co lowered their price objective on Douglas Emmett from $45.00 to $40.00 and set an equal weight rating on the stock in a research report on Wednesday, June 10th. Citigroup increased their price objective on Douglas Emmett from $30.00 to $31.00 and gave the stock a neutral rating in a research report on Thursday, May 28th. Mizuho lowered their price objective on Douglas Emmett from $45.00 to $31.00 and set a neutral rating on the stock in a research report on Tuesday, April 28th. Finally, Raymond James lowered their price objective on Douglas Emmett from $40.00 to $38.00 and set an outperform rating on the stock in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $37.50.

DEI opened at $27.98 on Monday. Douglas Emmett has a 1-year low of $23.16 and a 1-year high of $45.59. The stock’s fifty day simple moving average is $29.52 and its 200 day simple moving average is $32.25. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.16. The stock has a market cap of $4.96 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.86 and a beta of 0.68.

Douglas Emmett (NYSE:DEI) last posted its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.50). Douglas Emmett had a net margin of 35.06% and a return on equity of 7.99%. The business had revenue of $207.80 million during the quarter, compared to the consensus estimate of $236.74 million. During the same quarter last year, the company posted $0.54 EPS. The firm’s revenue was down 9.9% on a year-over-year basis. Equities analysts forecast that Douglas Emmett will post 2.01 earnings per share for the current year.

In other news, Director Christopher H. Anderson purchased 40,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were purchased at an average cost of $30.32 per share, with a total value of $1,212,800.00. Following the completion of the purchase, the director now owns 2,341,660 shares of the company’s stock, valued at approximately $70,999,131.20. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 15.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. First Trust Advisors LP lifted its stake in shares of Douglas Emmett by 90.0% in the first quarter. First Trust Advisors LP now owns 57,674 shares of the real estate investment trust’s stock worth $2,331,000 after acquiring an additional 27,327 shares during the period. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Douglas Emmett by 32.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 143,553 shares of the real estate investment trust’s stock worth $5,802,000 after acquiring an additional 34,975 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Douglas Emmett by 11.9% in the first quarter. Nisa Investment Advisors LLC now owns 61,574 shares of the real estate investment trust’s stock worth $1,879,000 after acquiring an additional 6,544 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Douglas Emmett by 18.0% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,676 shares of the real estate investment trust’s stock worth $325,000 after acquiring an additional 1,631 shares during the period. Finally, Raymond James & Associates lifted its stake in shares of Douglas Emmett by 16.5% in the first quarter. Raymond James & Associates now owns 141,246 shares of the real estate investment trust’s stock worth $4,309,000 after acquiring an additional 20,006 shares during the period. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

About Douglas Emmett

Douglas Emmett, Inc (DEI) 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.

Featured Article: How can investors benefit from after-hours trading?

Get a free copy of the Zacks research report on Douglas Emmett (DEI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Douglas Emmett (NYSE:DEI)

Receive News & Ratings for Douglas Emmett Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Douglas Emmett and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply