Douglas Emmett (NYSE:DEI) Sees Strong Trading Volume

Douglas Emmett, Inc. (NYSE:DEI – Get Rating) saw unusually-high trading volume on Friday . Approximately 24,011 shares were traded during mid-day trading, a decline of 98% from the previous session’s volume of 1,110,420 shares.The stock last traded at $22.59 and had previously closed at $22.40.

Analysts Set New Price Targets

DEI has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their price objective on shares of Douglas Emmett from $38.00 to $32.00 in a research note on Tuesday, June 7th. Jefferies Financial Group lowered their price objective on shares of Douglas Emmett from $31.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, June 30th. Evercore ISI set a $33.00 target price on shares of Douglas Emmett in a report on Monday, June 20th. Wells Fargo & Company reduced their target price on shares of Douglas Emmett from $38.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, July 1st. Finally, Piper Sandler reduced their target price on shares of Douglas Emmett to $30.00 in a report on Monday, July 4th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.71.

Douglas Emmett Trading Up 0.4 %

The company has a debt-to-equity ratio of 1.22, a current ratio of 2.99 and a quick ratio of 2.99. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 51.09, a P/E/G ratio of 2.09 and a beta of 0.92. The company’s fifty day moving average price is $24.49 and its 200-day moving average price is $29.35.

Douglas Emmett (NYSE:DEI – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.36). Douglas Emmett had a net margin of 9.09% and a return on equity of 1.97%. The company had revenue of $238.88 million for the quarter, compared to analyst estimates of $240.76 million. During the same quarter last year, the company earned $0.44 EPS. The business’s revenue was up 10.4% compared to the same quarter last year. On average, research analysts expect that Douglas Emmett, Inc. will post 2.04 EPS for the current fiscal year.

Douglas Emmett Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, June 29th. This represents a $1.12 annualized dividend and a dividend yield of 4.98%. Douglas Emmett’s dividend payout ratio (DPR) is currently 254.55%.

Hedge Funds Weigh In On Douglas Emmett

Hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp boosted its position in Douglas Emmett by 82.4% in the fourth quarter. Fifth Third Bancorp now owns 748 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 338 shares during the last quarter. MCF Advisors LLC purchased a new stake in Douglas Emmett in the first quarter valued at approximately $30,000. Allworth Financial LP boosted its position in Douglas Emmett by 132.3% in the fourth quarter. Allworth Financial LP now owns 950 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 541 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Douglas Emmett in the first quarter valued at approximately $40,000. Finally, Lazard Asset Management LLC purchased a new stake in Douglas Emmett in the fourth quarter valued at approximately $72,000. Institutional investors and hedge funds own 97.71% of the company’s stock.

About Douglas Emmett

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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.