Scotiabank Upgrades Douglas Emmett (NYSE:DEI) to Sector Outperform

Scotiabank upgraded shares of Douglas Emmett (NYSE:DEI) from a sector perform rating to a sector outperform rating in a report published on Thursday morning, MarketBeat.com reports. They currently have $21.00 target price on the real estate investment trust’s stock, up from their prior target price of $16.00.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company boosted their target price on shares of Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. upped their target price on shares of Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Evercore ISI raised their price target on shares of Douglas Emmett from $16.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Citigroup boosted their price target on shares of Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, Piper Sandler increased their price objective on shares of Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Douglas Emmett presently has a consensus rating of “Hold” and an average price target of $17.43.

Douglas Emmett Stock Performance

DEI traded down $0.09 during midday trading on Thursday, hitting $18.39. The company had a trading volume of 1,241,135 shares, compared to its average volume of 1,657,246. The company has a current ratio of 4.09, a quick ratio of 5.11 and a debt-to-equity ratio of 1.51. The stock’s 50 day moving average price is $17.68 and its 200 day moving average price is $15.50. Douglas Emmett has a 52 week low of $11.08 and a 52 week high of $19.59.

Douglas Emmett (NYSE:DEI) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $0.03 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.38). The business had revenue of $250.75 million for the quarter, compared to the consensus estimate of $242.75 million. Douglas Emmett had a negative return on equity of 0.43% and a negative net margin of 1.68%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 earnings per share. As a group, analysts predict that Douglas Emmett will post 1.7 EPS for the current year.

Douglas Emmett Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Monday, September 30th. Douglas Emmett’s payout ratio is -760.00%.

Institutional Investors Weigh In On Douglas Emmett

A number of hedge funds have recently made changes to their positions in the business. Manning & Napier Advisors LLC bought a new stake in Douglas Emmett in the 2nd quarter valued at about $3,825,000. Centersquare Investment Management LLC raised its stake in Douglas Emmett by 20.8% in the 1st quarter. Centersquare Investment Management LLC now owns 4,363,009 shares of the real estate investment trust’s stock valued at $59,817,000 after acquiring an additional 751,419 shares during the period. Swedbank AB bought a new stake in Douglas Emmett in the 1st quarter valued at about $661,000. Caxton Associates LP bought a new stake in Douglas Emmett during the 1st quarter valued at $974,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Douglas Emmett by 57.7% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 175,000 shares of the real estate investment trust’s stock worth $2,427,000 after acquiring an additional 64,000 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors.

Douglas Emmett Company Profile

Douglas Emmett, Inc (DEI) is a fully integrated, self-administered and self-managed real estate investment trust (REIT), and one of the largest owners and operators of high-quality office and multifamily properties located in the premier coastal submarkets of Los Angeles and Honolulu. Douglas Emmett focuses on owning and acquiring a substantial share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive housing and key lifestyle amenities.