Douglas Emmett (NYSE:DEI) Upgraded at Scotiabank

Douglas Emmett (NYSE:DEI) was upgraded by stock analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research note issued on Thursday, MarketBeat reports. The firm currently has a $21.00 target price on the real estate investment trust’s stock, up from their prior target price of $16.00. Scotiabank’s target price suggests a potential upside of 14.25% from the stock’s previous close.

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

Douglas Emmett Price Performance

Shares of NYSE:DEI opened at $18.38 on Thursday. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of -183.90 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 12 month low of $11.08 and a 12 month high of $19.59. The stock’s 50 day moving average price is $17.74 and its 200 day moving average price is $15.52.

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

Institutional Trading of Douglas Emmett

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

Douglas Emmett Company Profile

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.