Douglas Emmett (DEI) Price Target Raised to $39.00 at Citigroup

Douglas Emmett (NYSE:DEI) had its price target increased by Citigroup from $38.00 to $39.00 in a research report sent to investors on Wednesday. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

Several other brokerages also recently issued reports on DEI. Stifel Nicolaus lifted their target price on Douglas Emmett from $42.00 to $43.00 and gave the company a buy rating in a research note on Thursday, August 2nd. Barclays reissued a sell rating and set a $37.00 target price on shares of Douglas Emmett in a research note on Tuesday, April 17th. Zacks Investment Research downgraded Douglas Emmett from a buy rating to a hold rating in a research note on Wednesday, July 25th. Finally, Mizuho upgraded Douglas Emmett from a neutral rating to a buy rating and raised their price target for the company from $39.00 to $44.00 in a report on Monday, June 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $41.33.

DEI traded down $0.41 on Wednesday, hitting $38.83. 573,316 shares of the company’s stock traded hands, compared to its average volume of 756,296. The company has a market capitalization of $6.67 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 2.90 and a beta of 0.65. Douglas Emmett has a one year low of $34.72 and a one year high of $41.59. The company has a current ratio of 2.30, a quick ratio of 2.17 and a debt-to-equity ratio of 1.04.

Douglas Emmett (NYSE:DEI) last issued its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.31). The business had revenue of $219.47 million for the quarter, compared to the consensus estimate of $215.12 million. Douglas Emmett had a net margin of 13.94% and a return on equity of 2.96%. equities research analysts predict that Douglas Emmett will post 2.01 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 13th. Shareholders of record on Friday, June 29th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Thursday, June 28th. Douglas Emmett’s dividend payout ratio is presently 52.63%.

In other news, Director William E. Simon, Jr. purchased 7,700 shares of the business’s stock in a transaction on Friday, June 1st. The stock was acquired at an average price of $38.55 per share, for a total transaction of $296,835.00. Following the acquisition, the director now directly owns 9,700 shares of the company’s stock, valued at approximately $373,935. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 17.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Massey Quick Simon & CO. LLC purchased a new position in shares of Douglas Emmett in the 1st quarter worth approximately $147,000. Cadence Capital Management LLC purchased a new position in shares of Douglas Emmett in the 2nd quarter worth approximately $250,000. CIBC Asset Management Inc purchased a new position in shares of Douglas Emmett in the 2nd quarter worth approximately $254,000. Koch Industries Inc. purchased a new position in shares of Douglas Emmett in the 1st quarter worth approximately $278,000. Finally, TLP Group LLC boosted its holdings in shares of Douglas Emmett by 38,558.3% in the 1st quarter. TLP Group LLC now owns 9,278 shares of the real estate investment trust’s stock worth $341,000 after purchasing an additional 9,254 shares during the period. Institutional investors and hedge funds own 95.28% of the company’s stock.

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.

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