Douglas Emmett (NYSE:DEI) Sets New 52-Week High – Here’s What Happened

Douglas Emmett, Inc. (NYSE:DEI) shares reached a new 52-week high on Monday . The company traded as high as $19.69 and last traded at $19.56, with a volume of 23827 shares traded. The stock had previously closed at $19.32.

Wall Street Analyst Weigh In

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

Douglas Emmett Stock Performance

The company has a 50-day moving average of $18.06 and a 200-day moving average of $15.76. The company has a market cap of $3.28 billion, a PE ratio of -193.20 and a beta of 1.10. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 1.51.

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

Douglas Emmett Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 3.88%. Douglas Emmett’s payout ratio is currently -760.00%.

Hedge Funds Weigh In On Douglas Emmett

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Douglas Emmett by 0.7% during the third quarter. Geode Capital Management LLC now owns 4,171,839 shares of the real estate investment trust’s stock worth $73,312,000 after purchasing an additional 26,961 shares during the period. Barclays PLC raised its holdings in Douglas Emmett by 3.8% during the 3rd quarter. Barclays PLC now owns 293,446 shares of the real estate investment trust’s stock valued at $5,155,000 after acquiring an additional 10,653 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Douglas Emmett by 0.7% in the third quarter. Public Employees Retirement System of Ohio now owns 243,939 shares of the real estate investment trust’s stock worth $4,286,000 after acquiring an additional 1,794 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Douglas Emmett by 0.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 211,400 shares of the real estate investment trust’s stock worth $3,714,000 after acquiring an additional 1,300 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Douglas Emmett in the third quarter valued at $428,000. 97.37% of the stock is owned by institutional investors.

About Douglas Emmett

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.