Douglas Emmett (NYSE:DEI) Sets New 1-Year Low at $15.90

Douglas Emmett, Inc. (NYSE:DEIGet Rating)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $15.90 and last traded at $15.99, with a volume of 6194 shares traded. The stock had previously closed at $16.46.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company decreased their price objective on Douglas Emmett from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, October 18th. Piper Sandler downgraded Douglas Emmett from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $30.00 to $19.00 in a report on Friday, October 7th. StockNews.com started coverage on Douglas Emmett in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Raymond James decreased their price target on Douglas Emmett from $28.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday, October 18th. Finally, Credit Suisse Group decreased their price target on Douglas Emmett to $22.00 in a research note on Thursday, October 20th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.71.

Douglas Emmett Stock Performance

The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 1.54 and a beta of 0.90. The stock has a 50-day moving average price of $17.87 and a 200-day moving average price of $21.71. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.54 and a quick ratio of 2.54.

Douglas Emmett Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 18th. Stockholders of record on Friday, September 30th were given a $0.28 dividend. The ex-dividend date was Thursday, September 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.76%. Douglas Emmett’s payout ratio is 215.39%.

Insider Activity

In other Douglas Emmett news, Director Shirley Wang acquired 284,000 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was bought at an average cost of $21.17 per share, with a total value of $6,012,280.00. Following the completion of the transaction, the director now directly owns 284,000 shares in the company, valued at approximately $6,012,280. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director William E. Simon, Jr. purchased 13,200 shares of the company’s stock in a transaction that occurred on Wednesday, September 28th. The stock was acquired at an average cost of $18.73 per share, with a total value of $247,236.00. Following the acquisition, the director now owns 81,000 shares in the company, valued at approximately $1,517,130. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shirley Wang purchased 284,000 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were purchased at an average cost of $21.17 per share, with a total value of $6,012,280.00. Following the completion of the acquisition, the director now owns 284,000 shares in the company, valued at approximately $6,012,280. The disclosure for this purchase can be found here. Insiders acquired a total of 345,950 shares of company stock valued at $7,257,916 over the last three months. Insiders own 13.40% of the company’s stock.

Institutional Trading of Douglas Emmett

Several hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its holdings in Douglas Emmett by 1.4% during the 2nd quarter. Federated Hermes Inc. now owns 37,589 shares of the real estate investment trust’s stock worth $841,000 after purchasing an additional 521 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Douglas Emmett by 1.2% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 51,216 shares of the real estate investment trust’s stock worth $918,000 after purchasing an additional 600 shares during the last quarter. Cibc World Markets Corp lifted its holdings in Douglas Emmett by 0.7% during the 1st quarter. Cibc World Markets Corp now owns 88,337 shares of the real estate investment trust’s stock worth $2,952,000 after purchasing an additional 610 shares during the last quarter. Centersquare Investment Management LLC raised its holdings in Douglas Emmett by 0.3% in the 1st quarter. Centersquare Investment Management LLC now owns 218,255 shares of the real estate investment trust’s stock valued at $7,294,000 after acquiring an additional 635 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Douglas Emmett by 24.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,294 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 645 shares in the last quarter. 93.57% of the stock is owned by institutional investors and hedge funds.

Douglas Emmett Company Profile

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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.

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