BMO Capital Markets Upgrades Douglas Emmett (NYSE:DEI) to “Market Perform”

Douglas Emmett (NYSE:DEI) was upgraded by investment analysts at BMO Capital Markets from an “underperform” rating to a “market perform” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has a $17.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 8.21% from the stock’s previous close.

DEI has been the subject of several other reports. Scotiabank decreased their price objective on Douglas Emmett from $21.00 to $19.00 and set a “sector outperform” rating for the company in a report on Monday. Piper Sandler decreased their price objective on Douglas Emmett from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, May 23rd. Wells Fargo & Company decreased their price objective on Douglas Emmett from $20.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Finally, Wall Street Zen upgraded Douglas Emmett from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.78.

Douglas Emmett Stock Down 1.4%

Shares of DEI opened at $15.71 on Wednesday. The firm has a market capitalization of $2.63 billion, a P/E ratio of 49.10 and a beta of 1.23. Douglas Emmett has a 12-month low of $12.39 and a 12-month high of $20.50. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 1.54. The firm has a fifty day moving average price of $14.93 and a 200-day moving average price of $15.73.

Douglas Emmett (NYSE:DEI) last issued its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The firm had revenue of $251.54 million during the quarter, compared to analyst estimates of $246.49 million. Douglas Emmett had a net margin of 5.48% and a return on equity of 1.48%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 earnings per share. Equities research analysts expect that Douglas Emmett will post 1.45 earnings per share for the current year.

Institutional Investors Weigh In On Douglas Emmett

Large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Douglas Emmett in the first quarter valued at approximately $30,000. Tower Research Capital LLC TRC boosted its position in Douglas Emmett by 203.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,927 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 1,964 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Douglas Emmett in the 4th quarter worth approximately $56,000. Brooklyn Investment Group boosted its position in Douglas Emmett by 9,036.1% in the 1st quarter. Brooklyn Investment Group now owns 3,289 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 3,253 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Douglas Emmett in the 1st quarter worth approximately $76,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

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.