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

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 to investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a $21.00 price target on the real estate investment trust’s stock, up from their prior price target of $16.00. Scotiabank’s price objective indicates a potential upside of 14.25% from the stock’s previous close.

DEI has been the subject of a number of other research reports. Evercore ISI increased their target price 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. Piper Sandler raised 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. JPMorgan Chase & Co. upped 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. Citigroup raised their price objective on Douglas Emmett from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Wells Fargo & Company upped 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. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $17.43.

Douglas Emmett Stock Down 0.5 %

Shares of DEI opened at $18.38 on Thursday. Douglas Emmett has a fifty-two week low of $11.08 and a fifty-two week high of $19.59. The company’s fifty day moving average is $17.74 and its two-hundred day moving average is $15.52. The firm has a market cap of $3.08 billion, a PE ratio of -183.90 and a beta of 1.10. The company has a quick ratio of 5.11, a current ratio of 4.09 and a debt-to-equity ratio of 1.51.

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

Hedge Funds Weigh In On Douglas Emmett

Institutional investors have recently made changes to their positions in the business. Inspire Investing LLC increased its stake in shares of Douglas Emmett by 3.4% in the second quarter. Inspire Investing LLC now owns 26,491 shares of the real estate investment trust’s stock valued at $353,000 after purchasing an additional 883 shares during the period. Arizona State Retirement System grew its holdings in Douglas Emmett by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 46,850 shares of the real estate investment trust’s stock worth $624,000 after buying an additional 1,027 shares in the last quarter. HighTower Advisors LLC increased its position in Douglas Emmett by 9.6% in the 3rd quarter. HighTower Advisors LLC now owns 13,335 shares of the real estate investment trust’s stock valued at $234,000 after acquiring an additional 1,171 shares during the period. GAMMA Investing LLC increased its position in 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 valued at $67,000 after acquiring an additional 1,175 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in Douglas Emmett by 0.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 211,400 shares of the real estate investment trust’s stock valued at $3,714,000 after acquiring an additional 1,300 shares in the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

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.