Shares of Douglas Emmett Inc. (NYSE:DEI) traded today at $35.72, eclipsing its 52-week high. So far today approximately 725,000 shares have been exchanged, as compared to an average 30-day volume of 1.4 million shares.
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.
Douglas Emmett Inc. share prices have moved between a 52-week high of $35.72 and a 52-week low of $22.88 and are now trading 56% above that low price at $35.69 per share.
Douglas Emmett Inc. (NYSE:DEI) has potential upside of 43.4% based on a current price of $35.69 and analysts’ consensus price target of $51.16.
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