Douglas Emmett (NYSE:DEI) Sets New 12-Month High on Analyst Upgrade

Douglas Emmett, Inc. (NYSE:DEI)’s stock price reached a new 52-week high on Friday after Citigroup raised their price target on the stock from $14.00 to $16.00. Citigroup currently has a neutral rating on the stock. Douglas Emmett traded as high as $16.65 and last traded at $16.53, with a volume of 55033 shares. The stock had previously closed at $16.35.

DEI has been the topic of a number of other reports. Scotiabank raised their price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. JPMorgan Chase & Co. raised their price objective on shares of Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Wells Fargo & Company raised their price objective on shares of Douglas Emmett from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com upgraded shares of Douglas Emmett from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Finally, Evercore ISI raised their price objective on shares of Douglas Emmett from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.88.

Institutional Trading of Douglas Emmett

Several institutional investors and hedge funds have recently modified their holdings of the business. Inspire Investing LLC increased its position in Douglas Emmett by 3.4% during the second quarter. Inspire Investing LLC now owns 26,491 shares of the real estate investment trust’s stock worth $353,000 after purchasing an additional 883 shares during the last quarter. Arizona State Retirement System grew its stake in Douglas Emmett by 2.2% during the second quarter. Arizona State Retirement System now owns 46,850 shares of the real estate investment trust’s stock worth $624,000 after buying an additional 1,027 shares during the period. AQR Capital Management LLC grew its stake in Douglas Emmett by 3.9% during the second quarter. AQR Capital Management LLC now owns 36,432 shares of the real estate investment trust’s stock worth $479,000 after buying an additional 1,377 shares during the period. Aspire Private Capital LLC grew its stake in Douglas Emmett by 20.0% during the second quarter. Aspire Private Capital LLC now owns 9,537 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 1,592 shares during the period. Finally, Louisiana State Employees Retirement System grew its stake in Douglas Emmett by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 84,200 shares of the real estate investment trust’s stock worth $1,121,000 after buying an additional 1,600 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Douglas Emmett Trading Up 2.8 %

The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 1.47. The firm’s 50 day simple moving average is $15.25 and its 200-day simple moving average is $14.13. The company has a market capitalization of $2.81 billion, a PE ratio of -54.19 and a beta of 1.10.

Douglas Emmett (NYSE:DEI) last released its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.37). The business had revenue of $245.80 million for the quarter, compared to analysts’ expectations of $246.62 million. Douglas Emmett had a negative return on equity of 0.88% and a negative net margin of 3.55%. Douglas Emmett’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 earnings per share. As a group, equities research analysts anticipate that Douglas Emmett, Inc. will post 1.67 EPS for the current year.

Douglas Emmett Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be paid a $0.19 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 4.52%. Douglas Emmett’s dividend payout ratio (DPR) is presently -245.16%.

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.