Citigroup Increases Douglas Emmett (NYSE:DEI) Price Target to $16.00

Douglas Emmett (NYSE:DEI) had its price objective hoisted by Citigroup from $14.00 to $16.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

DEI has been the subject of a number of other research reports. Piper Sandler boosted their price target on Douglas Emmett from $15.00 to $16.00 and gave the stock a neutral rating in a research report on Monday, August 12th. Evercore ISI boosted their target price on Douglas Emmett from $15.00 to $16.00 and gave the stock an in-line rating in a report on Wednesday, August 28th. Wells Fargo & Company increased their price target on Douglas Emmett from $15.00 to $17.00 and gave the company an overweight rating in a report on Wednesday. Scotiabank boosted their price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the stock a sector perform rating in a research note on Monday, August 26th. Finally, StockNews.com upgraded shares of Douglas Emmett from a sell rating to a hold rating in a research note on Monday, May 20th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $15.88.

Douglas Emmett Stock Performance

DEI opened at $16.34 on Thursday. 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 has a market cap of $2.73 billion, a PE ratio of -52.71 and a beta of 1.10. The business has a fifty day simple moving average of $15.18 and a 200-day simple moving average of $14.10. Douglas Emmett has a fifty-two week low of $10.76 and a fifty-two week high of $16.57.

Douglas Emmett (NYSE:DEI) last issued its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 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 quarter in the prior year, the firm posted $0.48 EPS. As a group, equities analysts predict that Douglas Emmett will post 1.67 EPS for the current fiscal year.

Douglas Emmett Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 4.65%. Douglas Emmett’s payout ratio 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. increased its holdings in Douglas Emmett by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 26,187,297 shares of the real estate investment trust’s stock valued at $379,716,000 after buying an additional 229,301 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Douglas Emmett by 12.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,119,643 shares of the real estate investment trust’s stock worth $45,235,000 after acquiring an additional 349,034 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Douglas Emmett in the 2nd quarter valued at $3,825,000. GSA Capital Partners LLP increased its position in shares of Douglas Emmett by 356.7% during the 1st quarter. GSA Capital Partners LLP now owns 116,902 shares of the real estate investment trust’s stock worth $1,621,000 after purchasing an additional 91,305 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in Douglas Emmett by 20.8% during the 1st quarter. Centersquare Investment Management LLC now owns 4,363,009 shares of the real estate investment trust’s stock valued at $59,817,000 after purchasing an additional 751,419 shares in the last quarter. Institutional investors and hedge funds 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.