Douglas Emmett (NYSE:DEI) Stock Rating Upgraded by Scotiabank

Scotiabank upgraded shares of Douglas Emmett (NYSE:DEI) from a sector perform rating to a sector outperform rating in a research report sent to investors on Thursday, MarketBeat.com reports. They currently have $21.00 price target on the real estate investment trust’s stock, up from their prior price target of $16.00.

DEI has been the subject of several other research reports. Evercore ISI upped their price target on Douglas Emmett from $16.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Citigroup upped their price target on Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company upped their price target on Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. increased their target price on Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. 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 note on Monday, August 12th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.43.

Douglas Emmett Stock Down 0.5 %

NYSE:DEI opened at $18.39 on Thursday. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of -183.90 and a beta of 1.10. Douglas Emmett has a 1-year low of $11.08 and a 1-year high of $19.59. The company has a current ratio of 4.09, a quick ratio of 5.11 and a debt-to-equity ratio of 1.51. The business’s fifty day moving average price is $17.79 and its 200 day moving average price is $15.57.

Douglas Emmett (NYSE:DEI) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.38). The business had revenue of $250.75 million for the quarter, compared to analyst estimates of $242.75 million. Douglas Emmett had a negative net margin of 1.68% and a negative return on equity of 0.43%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, sell-side analysts forecast that Douglas Emmett will post 1.7 earnings per share for the current fiscal year.

Douglas Emmett Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 4.13%. Douglas Emmett’s dividend payout ratio (DPR) is -760.00%.

Hedge Funds Weigh In On Douglas Emmett

Hedge funds have recently modified their holdings of the stock. Wolverine Asset Management LLC acquired a new position in shares of Douglas Emmett in the 2nd quarter worth approximately $32,000. Venturi Wealth Management LLC bought a new position in Douglas Emmett in the 3rd quarter valued at $48,000. Quarry LP boosted its position in Douglas Emmett by 155.0% in the 2nd quarter. Quarry LP now owns 4,121 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 2,505 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Douglas Emmett by 1,081.5% in the 3rd quarter. Blue Trust Inc. now owns 3,710 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 3,396 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of 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 worth $67,000 after purchasing an additional 1,175 shares during the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

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.