Douglas Emmett (NYSE:DEI) Upgraded to “Sector Outperform” at Scotiabank

Scotiabank upgraded shares of Douglas Emmett (NYSE:DEI) from a sector perform rating to a sector outperform rating in a research note published on Thursday, Marketbeat.com reports. Scotiabank currently has $21.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $16.00.

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

Douglas Emmett Trading Down 0.5 %

Douglas Emmett stock traded down $0.09 during mid-day trading on Thursday, reaching $18.39. The company had a trading volume of 1,241,135 shares, compared to its average volume of 1,657,246. Douglas Emmett has a fifty-two week low of $11.08 and a fifty-two week high of $19.59. The company has a debt-to-equity ratio of 1.51, a quick ratio of 5.11 and a current ratio of 4.09. The business has a fifty day simple moving average of $17.68 and a 200 day simple moving average of $15.50.

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

Douglas Emmett Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Monday, September 30th. Douglas Emmett’s dividend payout ratio is presently -760.00%.

Hedge Funds Weigh In On Douglas Emmett

A number of hedge funds have recently bought and sold shares of the company. Stifel Financial Corp raised its stake in Douglas Emmett by 43.4% during the third quarter. Stifel Financial Corp now owns 17,783 shares of the real estate investment trust’s stock worth $312,000 after buying an additional 5,380 shares during the last quarter. Quantinno Capital Management LP increased its stake in Douglas Emmett by 22.0% in the third quarter. Quantinno Capital Management LP now owns 69,731 shares of the real estate investment trust’s stock valued at $1,225,000 after purchasing an additional 12,587 shares in the last quarter. NFJ Investment Group LLC bought a new stake in Douglas Emmett in the third quarter valued at $6,210,000. HighTower Advisors LLC increased its stake in Douglas Emmett by 9.6% in the third quarter. HighTower Advisors LLC now owns 13,335 shares of the real estate investment trust’s stock valued at $234,000 after purchasing an additional 1,171 shares in the last quarter. Finally, Holocene Advisors LP increased its stake in Douglas Emmett by 18.4% in the third quarter. Holocene Advisors LP now owns 199,607 shares of the real estate investment trust’s stock valued at $3,507,000 after purchasing an additional 30,951 shares in the last quarter. 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.