Douglas Emmett (NYSE:DEI) Sets New 1-Year High – Still a Buy?

Douglas Emmett, Inc. (NYSE:DEI)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock 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.

Analyst Ratings Changes

A number of equities research analysts have weighed in on DEI shares. Piper Sandler raised their price target on Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Evercore ISI boosted their target price 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. Citigroup increased their price target 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. JPMorgan Chase & Co. boosted their price objective on shares of Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Finally, Scotiabank raised shares of Douglas Emmett from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $16.00 to $21.00 in a report on Thursday, November 14th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $17.43.

Douglas Emmett Stock Performance

The business’s fifty day simple moving average is $18.06 and its 200-day simple moving average is $15.76. The firm has a market cap of $3.28 billion, a P/E ratio of -193.20 and a beta of 1.10. The company has a current ratio of 4.09, a quick ratio of 4.09 and a debt-to-equity ratio of 1.51.

Douglas Emmett (NYSE:DEI) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 1.68% and a negative return on equity of 0.43%. Douglas Emmett’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, sell-side analysts expect 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. Investors of record on Monday, September 30th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Monday, September 30th. Douglas Emmett’s dividend payout ratio is currently -760.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DEI. Manning & Napier Advisors LLC purchased a new stake in shares of Douglas Emmett during the second quarter valued at $3,825,000. Swedbank AB purchased a new stake in shares of Douglas Emmett in the 1st quarter worth $661,000. Caxton Associates LP bought a new position in shares of Douglas Emmett in the first quarter worth about $974,000. SG Americas Securities LLC boosted its position in shares of Douglas Emmett by 623.3% in the second quarter. SG Americas Securities LLC now owns 157,156 shares of the real estate investment trust’s stock worth $2,092,000 after purchasing an additional 135,428 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Douglas Emmett by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 91,554 shares of the real estate investment trust’s stock worth $1,219,000 after buying an additional 3,183 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

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.