Jefferies has decided to maintain its Hold rating of Douglas Emmett (NYSE:DEI) and lower its price target from $31.00 to $24.00.
Shares of Douglas Emmett are trading down 1.04% over the last 24 hours, at $22.32 per share.
A move to $24.00 would account for a 7.5% increase from the current share price.
About Douglas Emmett
Douglas Emmett Inc is a real estate investment trust that acquires, develops, and manages office and multifamily properties in Los Angeles, California and Honolulu, Hawaii in the U.S. The company focuses on owning assets in communities with large supply constraints, such as the affluent neighborhoods of Los Angeles. The vast majority of Douglas Emmett's real estate portfolio is comprised of office buildings in Los Angeles. Most of these assets are located in the areas of Sherman Oaks, Woodland Hills, and Beverly Hills in terms of total square feet. Douglas Emmett derives nearly all of its income in the form of rental revenue from tenants. The vast majority of this also comes from its Los Angeles office buildings. The company's major tenants are legal, financial, and entertainment firms.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
