Raymond James Lowers Douglas Emmett (NYSE:DEI) Price Target to $28.00

Douglas Emmett (NYSE:DEIGet Rating) had its price target decreased by equities researchers at Raymond James from $38.00 to $28.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Raymond James’ price target indicates a potential upside of 27.04% from the company’s current price.

DEI has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price objective on shares of Douglas Emmett from $38.00 to $32.00 in a research note on Tuesday, June 7th. Wells Fargo & Company reduced their price objective on shares of Douglas Emmett from $38.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. Credit Suisse Group initiated coverage on shares of Douglas Emmett in a research note on Wednesday, June 22nd. They set an “outperform” rating and a $27.00 price objective for the company. Piper Sandler reduced their price target on shares of Douglas Emmett to $30.00 in a research report on Monday, July 4th. Finally, Jefferies Financial Group reduced their price target on shares of Douglas Emmett from $31.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, June 30th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Douglas Emmett currently has an average rating of “Moderate Buy” and an average price target of $28.86.

Douglas Emmett Stock Performance

NYSE:DEI opened at $22.04 on Thursday. Douglas Emmett has a twelve month low of $21.35 and a twelve month high of $36.97. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 1.23. The company has a 50-day moving average of $23.50 and a 200-day moving average of $28.51. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 44.98, a price-to-earnings-growth ratio of 2.13 and a beta of 0.92.

Douglas Emmett (NYSE:DEIGet Rating) last posted its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. Douglas Emmett had a net margin of 9.78% and a return on equity of 2.14%. The company had revenue of $247.00 million during the quarter, compared to analyst estimates of $245.29 million. During the same quarter last year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts forecast that Douglas Emmett will post 2.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Douglas Emmett

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DEI. Allspring Global Investments Holdings LLC acquired a new position in Douglas Emmett during the fourth quarter valued at approximately $619,000. Commonwealth Equity Services LLC acquired a new position in Douglas Emmett during the fourth quarter valued at approximately $1,548,000. Illinois Municipal Retirement Fund grew its holdings in Douglas Emmett by 46.3% during the fourth quarter. Illinois Municipal Retirement Fund now owns 23,815 shares of the real estate investment trust’s stock valued at $798,000 after purchasing an additional 7,542 shares during the last quarter. Yousif Capital Management LLC acquired a new position in Douglas Emmett during the fourth quarter valued at approximately $3,083,000. Finally, Qube Research & Technologies Ltd grew its stake in shares of Douglas Emmett by 532.2% in the fourth quarter. Qube Research & Technologies Ltd now owns 146,054 shares of the real estate investment trust’s stock worth $4,893,000 after acquiring an additional 122,951 shares during the last quarter. Institutional investors and hedge funds own 97.71% of the company’s stock.

About Douglas Emmett

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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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Analyst Recommendations for Douglas Emmett (NYSE:DEI)

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