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

Douglas Emmett, Inc. (NYSE:DEI) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $17.85 and last traded at $17.75, with a volume of 178234 shares trading hands. The stock had previously closed at $17.49.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DEI shares. Evercore ISI raised their price objective on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. upped their target price on shares of Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Piper Sandler upped their target price on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Wells Fargo & Company raised their price target on Douglas Emmett from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Finally, Citigroup boosted their target price on Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Douglas Emmett presently has an average rating of “Hold” and a consensus price target of $16.29.

Douglas Emmett Trading Up 1.5 %

The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.11 and a current ratio of 5.11. The company has a 50-day moving average price of $16.03 and a 200-day moving average price of $14.51. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -56.44 and a beta of 1.10.

Douglas Emmett (NYSE:DEI) last announced its earnings results on Thursday, August 8th. The real estate investment trust reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.37). Douglas Emmett had a negative net margin of 3.55% and a negative return on equity of 0.88%. The business had revenue of $245.80 million during the quarter, compared to analysts’ expectations of $246.62 million. During the same period in the previous year, the company posted $0.48 earnings per share. Douglas Emmett’s quarterly revenue was down 3.0% on a year-over-year basis. As a group, research analysts forecast that Douglas Emmett, Inc. will post 1.67 EPS for the current fiscal year.

Douglas Emmett Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.28%. Douglas Emmett’s dividend payout ratio (DPR) is -245.16%.

Hedge Funds Weigh In On Douglas Emmett

Several large investors have recently added to or reduced their stakes in DEI. Vanguard Group Inc. grew its position in shares of Douglas Emmett by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 26,187,297 shares of the real estate investment trust’s stock worth $379,716,000 after buying an additional 229,301 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Douglas Emmett during the second quarter valued at approximately $3,825,000. GSA Capital Partners LLP raised its position in Douglas Emmett by 356.7% during the first quarter. GSA Capital Partners LLP now owns 116,902 shares of the real estate investment trust’s stock valued at $1,621,000 after acquiring an additional 91,305 shares in the last quarter. Centersquare Investment Management LLC boosted its holdings in Douglas Emmett by 20.8% in the first quarter. Centersquare Investment Management LLC now owns 4,363,009 shares of the real estate investment trust’s stock worth $59,817,000 after purchasing an additional 751,419 shares in the last quarter. Finally, Swedbank AB bought a new stake in Douglas Emmett during the first quarter worth approximately $661,000. 97.37% of the stock is currently owned by hedge funds and other 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.