Douglas Emmett (DEI) Receives a Hold from Scotiabank

By Jason Carr

In a report released yesterday, Scotia Capital from Scotiabank maintained a Hold rating on Douglas Emmett (DEIResearch Report), with a price target of $31.00. The company’s shares closed last Tuesday at $24.00, close to its 52-week low of $23.16.

Currently, the analyst consensus on Douglas Emmett is a Moderate Buy with an average price target of $31.38, a 27.8% upside from current levels. In a report issued on October 16, Jefferies also maintained a Hold rating on the stock with a $27.00 price target.

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Based on Douglas Emmett’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $208 million and net profit of $2.03 million. In comparison, last year the company earned revenue of $231 million and had a net profit of $33.97 million.

Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of DEI in relation to earlier this year.

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Douglas Emmett, Inc. is a real estate investment trust, which engages in the acquisition, development, ownership, and management of real estate properties. It operates through the following segments: Office, and Multifamily. The Office segment comprises rental of office space and other tenant services, including parking and storage space rental. The Multifamily segment includes rental of apartments and other tenant services, including parking and storage space rental. The company was founded on June 28, 2005 and is headquartered in Santa Monica, CA.