Douglas Emmett (NYSE:DEI) Upgraded to “Sector Outperform” at Scotiabank

Douglas Emmett (NYSE:DEI) was upgraded by investment analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research note issued on Thursday,Briefing.com Automated Import reports. The firm currently has a $21.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $16.00. Scotiabank’s price target would suggest a potential upside of 16.15% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Citigroup raised their price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company boosted their price objective on shares of Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Piper Sandler increased their target price on shares of Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Evercore ISI boosted their price target on Douglas Emmett from $16.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price objective on Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.43.

Douglas Emmett Stock Performance

Shares of DEI opened at $18.08 on Thursday. The company has a market capitalization of $3.03 billion, a PE ratio of -180.80 and a beta of 1.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.09 and a quick ratio of 5.11. Douglas Emmett has a one year low of $11.08 and a one year high of $19.59. The company’s fifty day moving average price is $17.64 and its 200 day moving average price is $15.49.

Douglas Emmett (NYSE:DEI) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.03 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 business had revenue of $250.75 million during the quarter, compared to the consensus estimate of $242.75 million. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, analysts expect that Douglas Emmett will post 1.7 earnings per share for the current year.

Institutional Investors Weigh In On Douglas Emmett

Large investors have recently modified their holdings of the stock. Wolverine Asset Management LLC acquired a new stake in Douglas Emmett in the 2nd quarter valued at $32,000. Venturi Wealth Management LLC bought a new position in shares of Douglas Emmett during the third quarter valued at $48,000. Quarry LP lifted its holdings in shares of Douglas Emmett by 155.0% during the second quarter. Quarry LP now owns 4,121 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 2,505 shares during the period. Blue Trust Inc. boosted its stake in shares of Douglas Emmett by 1,081.5% in the 3rd quarter. Blue Trust Inc. now owns 3,710 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 3,396 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Douglas Emmett by 44.6% in the 3rd quarter. GAMMA Investing LLC now owns 3,811 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 1,175 shares during the last quarter. 97.37% of the stock is currently 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.