Douglas Emmett, Inc. (NYSE:DEI) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 4,280,000 shares, a growth of 19.9% from the August 31st total of 3,570,000 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,250,000 shares, the days-to-cover ratio is presently 3.4 days.
Several analysts have issued reports on DEI shares. Citigroup reduced their price target on shares of Douglas Emmett from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, August 24th. Zacks Investment Research downgraded shares of Douglas Emmett from a “hold” rating to a “sell” rating in a research note on Monday, August 17th. Raymond James reduced their price objective on shares of Douglas Emmett from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 15th. Wells Fargo & Company reduced their price objective on shares of Douglas Emmett from $40.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 23rd. Finally, ValuEngine downgraded shares of Douglas Emmett from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $36.83.
Shares of Douglas Emmett stock traded up $0.71 during trading hours on Friday, hitting $26.43. The company’s stock had a trading volume of 1,487,344 shares, compared to its average volume of 1,383,511. Douglas Emmett has a 1-year low of $23.16 and a 1-year high of $45.59. The business has a fifty day moving average of $27.05 and a 200 day moving average of $29.09. The company has a market capitalization of $4.64 billion, a PE ratio of 14.13, a P/E/G ratio of 2.80 and a beta of 0.62. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.15.
Douglas Emmett (NYSE:DEI) last released its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.50). The business had revenue of $207.80 million during the quarter, compared to analyst estimates of $236.74 million. Douglas Emmett had a return on equity of 7.99% and a net margin of 35.06%. Douglas Emmett’s revenue was down 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. On average, sell-side analysts anticipate that Douglas Emmett will post 1.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Tuesday, September 29th. Douglas Emmett’s payout ratio is 53.33%.
In other Douglas Emmett news, insider Jordan L. Kaplan purchased 3,251 shares of Douglas Emmett stock in a transaction on Friday, September 25th. The shares were bought at an average price of $24.24 per share, with a total value of $78,804.24. Following the completion of the acquisition, the insider now directly owns 2,735,841 shares of the company’s stock, valued at $66,316,785.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jordan L. Kaplan purchased 39,300 shares of Douglas Emmett stock in a transaction on Monday, September 28th. The stock was acquired at an average cost of $25.38 per share, for a total transaction of $997,434.00. Following the acquisition, the insider now directly owns 2,735,841 shares of the company’s stock, valued at $69,435,644.58. The disclosure for this purchase can be found here. Corporate insiders own 15.90% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DEI. FMR LLC grew its holdings in Douglas Emmett by 64.2% during the 2nd quarter. FMR LLC now owns 9,090,612 shares of the real estate investment trust’s stock valued at $278,718,000 after purchasing an additional 3,555,837 shares in the last quarter. Lasalle Investment Management Securities LLC grew its holdings in Douglas Emmett by 2,395.9% during the 2nd quarter. Lasalle Investment Management Securities LLC now owns 2,183,544 shares of the real estate investment trust’s stock valued at $66,947,000 after purchasing an additional 2,096,059 shares in the last quarter. Brookfield Asset Management Inc. acquired a new stake in Douglas Emmett during the 2nd quarter valued at $47,958,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Douglas Emmett by 448.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,863,419 shares of the real estate investment trust’s stock valued at $57,132,000 after purchasing an additional 1,523,704 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its holdings in Douglas Emmett by 571.4% during the 1st quarter. Centersquare Investment Management LLC now owns 1,612,059 shares of the real estate investment trust’s stock valued at $49,184,000 after purchasing an additional 1,371,939 shares in the last quarter. 93.56% of the stock is owned by institutional investors and hedge funds.
Douglas Emmett Company Profile
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.
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