Douglas Emmett (NYSE:DEI) Raised to Outperform at Wedbush

Douglas Emmett (NYSE:DEI) was upgraded by stock analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The brokerage currently has a $21.00 price target on the real estate investment trust’s stock, up from their previous price target of $19.00. Wedbush’s target price indicates a potential upside of 13.15% from the company’s previous close.

Several other brokerages also recently issued reports on DEI. Scotiabank upgraded shares of Douglas Emmett from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $16.00 to $21.00 in a research note on Thursday, November 14th. Evercore ISI raised their price target on shares of Douglas Emmett from $16.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Wells Fargo & Company lifted their target price on Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. Finally, Citigroup upped their price target on Douglas Emmett from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Douglas Emmett currently has an average rating of “Hold” and a consensus price target of $17.88.

Douglas Emmett Price Performance

Shares of NYSE:DEI opened at $18.56 on Thursday. The stock has a market capitalization of $3.11 billion, a P/E ratio of -185.60 and a beta of 1.11. The business has a 50-day moving average of $18.87 and a two-hundred day moving average of $16.81. Douglas Emmett has a fifty-two week low of $12.35 and a fifty-two week high of $20.50. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.09 and a quick ratio of 4.09.

Douglas Emmett (NYSE:DEI) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.38). Douglas Emmett had a negative return on equity of 0.43% and a negative net margin of 1.68%. The company had revenue of $250.75 million for the quarter, compared to the consensus estimate of $242.75 million. During the same period in the previous year, the company earned $0.45 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts predict that Douglas Emmett will post 1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Douglas Emmett

Several institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in Douglas Emmett by 4,395.5% in the third quarter. Victory Capital Management Inc. now owns 1,578,205 shares of the real estate investment trust’s stock worth $27,729,000 after purchasing an additional 1,543,099 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Douglas Emmett by 379.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,085,427 shares of the real estate investment trust’s stock worth $19,071,000 after buying an additional 858,857 shares in the last quarter. FMR LLC grew its holdings in Douglas Emmett by 8.5% during the 3rd quarter. FMR LLC now owns 4,883,814 shares of the real estate investment trust’s stock worth $85,809,000 after acquiring an additional 384,371 shares during the last quarter. NFJ Investment Group LLC acquired a new position in shares of Douglas Emmett during the third quarter worth approximately $6,210,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Douglas Emmett by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,495,263 shares of the real estate investment trust’s stock valued at $33,212,000 after purchasing an additional 186,385 shares during the last quarter. 97.37% of the stock is owned by 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.