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

Douglas Emmett, Inc. (NYSE:DEI) shares hit a new 52-week high on Monday . The company traded as high as $18.03 and last traded at $18.02, with a volume of 560103 shares changing hands. The stock had previously closed at $17.64.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their price target on 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. boosted their price target 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. Scotiabank increased their price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Citigroup boosted their price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Piper Sandler increased their target price on Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.29.

Douglas Emmett Price Performance

The firm has a market capitalization of $3.12 billion, a PE ratio of -60.71 and a beta of 1.11. The firm’s fifty day moving average price is $16.39 and its 200 day moving average price is $14.75. The company has a current ratio of 5.11, a quick ratio of 5.11 and a debt-to-equity ratio of 1.47.

Douglas Emmett (NYSE:DEI) last issued 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 company had revenue of $245.80 million during the quarter, compared to analyst estimates of $246.62 million. Douglas Emmett had a negative net margin of 3.55% and a negative return on equity of 0.88%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. As a group, equities analysts forecast that Douglas Emmett, Inc. will post 1.67 earnings per share for the current year.

Douglas Emmett Announces Dividend

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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Monday, September 30th. Douglas Emmett’s payout ratio is currently -245.16%.

Institutional Trading of Douglas Emmett

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Swedbank AB grew its position in shares of Douglas Emmett by 23.0% in the third quarter. Swedbank AB now owns 45,255 shares of the real estate investment trust’s stock valued at $795,000 after purchasing an additional 8,468 shares during the period. GAMMA Investing LLC lifted its stake in Douglas Emmett by 44.6% in the 3rd quarter. GAMMA Investing LLC now owns 3,811 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 1,175 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Douglas Emmett by 105.3% in the 3rd quarter. SG Americas Securities LLC now owns 322,585 shares of the real estate investment trust’s stock worth $5,668,000 after buying an additional 165,429 shares during the last quarter. Quarry LP increased its stake in Douglas Emmett by 155.0% during the 2nd quarter. Quarry LP now owns 4,121 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 2,505 shares in the last quarter. Finally, Algert Global LLC raised its holdings in shares of Douglas Emmett by 48.0% during the second quarter. Algert Global LLC now owns 51,916 shares of the real estate investment trust’s stock valued at $691,000 after acquiring an additional 16,846 shares during the last quarter. 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.