Douglas Emmett (DEI) was Downgraded by Mizuho to ” Neutral” and the brokerage firm has set the Price Target at $37. Earlier the firm had a rating of “Buy ” on the company shares. Mizuho advised their investors in a research report released on Aug 4, 2016.
Many Wall Street Analysts have commented on Douglas Emmett. Robert W. Baird Initiated Douglas Emmett on Jun 30, 2016 to “Outperform”, Price Target of the shares are set at $39.
On the company’s financial health, Douglas Emmett reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.45. The company had revenue of $187.22 million for the quarter, compared to analysts expectations of $181.73 million. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.
Douglas Emmett closed down -0.45 points or -1.18% at $37.53 with 4,73,592 shares getting traded on Tusday. Post opening the session at $37.83, the shares hit an intraday low of $37.45 and an intraday high of $37.935 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jul 25, 2016, Dan A Emmett (Chairman of the Board) sold 140,000 shares at $36.72 per share price.
Douglas Emmett Inc. is a self-administered and self-managed Real Estate Investment Trust (REIT). The Company is owner and operator of office and multifamily properties located in submarkets in California and Hawaii. The Company operates in two segments: Office Properties and Multifamily Properties. The Office Properties segment products include rental of office space and other tenant services including parking and storage space rental. The Multifamily Properties segment products include rental of apartments and other tenant services including parking and storage space rental. The Company owned a consolidated portfolio of approximately 53 office properties and approximately 10 multifamily properties. Its properties are located in the Brentwood Olympic Corridor Century City Beverly Hills Santa Monica Westwood Sherman Oaks/Encino Warner Center/Woodland Hills and Burbank submarkets of Los Angeles County California and in Honolulu Hawaii.