Douglas Emmett (NYSE:DEI) Stock Moved Down to Sell by Wall Street Zen

Key Points

• Wall Street Zen downgraded Douglas Emmett from “hold” to “sell.” Despite the move, analysts’ overall consensus remains “hold,” with an average price target of $13.14.
• The REIT reported quarterly EPS of a loss of $0.05, missing the $0.33 consensus estimate, while revenue rose 4% year over year to $260.86 million and topped estimates.
• Shares opened at $10.18, near their 52-week low of $9.04; institutional investors own 97.37% of the stock.

Douglas Emmett (NYSE:DEI - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

DEI has been the subject of several other reports. Scotiabank decreased their price target on shares of Douglas Emmett from $13.00 to $12.00 and set a "sector perform" rating for the company in a research note on Thursday, September 17th. Piper Sandler reduced their price target on Douglas Emmett from $14.00 to $11.00 and set a "neutral" rating on the stock in a report on Monday, October 12th. Weiss Ratings cut shares of Douglas Emmett from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, October 8th. JPMorgan Chase & Co. lifted their target price on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 9th. Finally, Cantor Fitzgerald upped their price objective on Douglas Emmett from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $13.14.

Douglas Emmett Stock Performance

Shares of DEI stock opened at $10.18 on Friday. The company has a market cap of $1.70 billion, a P/E ratio of 7.08 and a beta of 1.18. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 1.63. The business has a 50 day moving average of $10.21 and a two-hundred day moving average of $10.86. Douglas Emmett has a 52 week low of $9.04 and a 52 week high of $12.97.

Douglas Emmett (NYSE:DEI - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.38). Douglas Emmett had a negative net margin of 2.27% and a negative return on equity of 0.66%. The firm had revenue of $260.86 million for the quarter, compared to the consensus estimate of $256.76 million. During the same quarter last year, the company earned $0.34 earnings per share. The firm's revenue was up 4.0% on a year-over-year basis. As a group, analysts anticipate that Douglas Emmett will post 1.41 EPS for the current year.

Institutional Investors Weigh In On Douglas Emmett

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Douglas Emmett during the second quarter worth $287,803,000. Legal & General Group Plc acquired a new position in Douglas Emmett during the second quarter valued at $27,572,000. Hsbc Holdings PLC bought a new position in shares of Douglas Emmett in the 2nd quarter valued at approximately $26,308,000. Bank of New York Mellon Corp bought a new stake in Douglas Emmett in the 2nd quarter valued at $18,002,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Douglas Emmett by 42.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,248,144 shares of the real estate investment trust's stock valued at $30,598,000 after purchasing an additional 962,787 shares in the last quarter. 97.37% of the stock is owned by institutional investors.

Douglas Emmett Company Profile

Douglas Emmett, Inc NYSE: DEI is a self-administered and self-managed real estate investment trust (REIT) that owns, acquires, develops, redevelops and manages office and multifamily apartment properties. The company focuses on high-quality assets in supply-constrained markets with strong employment and housing demand.

Douglas Emmett's portfolio is concentrated in Southern California and Honolulu. Its office properties are primarily located in prominent Los Angeles submarkets, including Century City, Brentwood, Westwood, Santa Monica, Warner Center and the Wilshire Corridor.

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