KeyCorp Weighs in on Douglas Emmett, Inc.’s Q3 2023 Earnings (NYSE:DEI)

Douglas Emmett, Inc. (NYSE:DEI) – Equities research analysts at KeyCorp issued their Q3 2023 earnings estimates for Douglas Emmett in a research note issued on Monday, September 11th. KeyCorp analyst U. Rana expects that the real estate investment trust will earn $0.44 per share for the quarter. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Douglas Emmett’s current full-year earnings is $1.82 per share. KeyCorp also issued estimates for Douglas Emmett’s Q4 2023 earnings at $0.44 EPS, FY2023 earnings at $1.82 EPS, Q1 2024 earnings at $0.44 EPS, Q2 2024 earnings at $0.44 EPS, Q3 2024 earnings at $0.43 EPS, Q4 2024 earnings at $0.43 EPS and FY2024 earnings at $1.74 EPS.

Several other equities analysts have also commented on DEI. Piper Sandler lowered shares of Douglas Emmett from an “overweight” rating to a “neutral” rating and set a $15.00 price target for the company. in a research report on Tuesday, September 5th. Raymond James dropped their price target on shares of Douglas Emmett from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. StockNews.com initiated coverage on shares of Douglas Emmett in a research report on Thursday, August 17th. They set a “sell” rating for the company. Bank of America downgraded shares of Douglas Emmett from a “neutral” rating to an “underperform” rating and cut their target price for the company from $12.00 to $10.00 in a research note on Tuesday, August 8th. Finally, Evercore ISI raised their target price on shares of Douglas Emmett from $14.00 to $15.00 and gave the company an “in-line” rating in a research note on Wednesday, August 16th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.40.

Douglas Emmett Stock Performance

Shares of DEI opened at $12.95 on Wednesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.67 and a current ratio of 2.67. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 39.24 and a beta of 1.00. The company’s 50 day simple moving average is $13.69 and its 200 day simple moving average is $12.77. Douglas Emmett has a 1 year low of $10.09 and a 1 year high of $21.36.

Douglas Emmett Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 29th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 5.87%. The ex-dividend date of this dividend is Thursday, September 28th. Douglas Emmett’s dividend payout ratio (DPR) is 230.30%.

Institutional Investors Weigh In On Douglas Emmett

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DEI. Signaturefd LLC grew its holdings in Douglas Emmett by 136.5% during the 1st quarter. Signaturefd LLC now owns 28,256 shares of the real estate investment trust’s stock worth $348,000 after acquiring an additional 16,310 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Douglas Emmett by 3.7% during the first quarter. Nomura Asset Management Co. Ltd. now owns 187,300 shares of the real estate investment trust’s stock valued at $2,309,000 after acquiring an additional 6,660 shares during the period. Dupont Capital Management Corp acquired a new stake in shares of Douglas Emmett during the first quarter valued at approximately $209,000. State of Alaska Department of Revenue raised its holdings in shares of Douglas Emmett by 2.1% during the first quarter. State of Alaska Department of Revenue now owns 112,231 shares of the real estate investment trust’s stock valued at $1,383,000 after acquiring an additional 2,345 shares during the period. Finally, Ontario Teachers Pension Plan Board grew its position in Douglas Emmett by 4.6% during the first quarter. Ontario Teachers Pension Plan Board now owns 171,482 shares of the real estate investment trust’s stock valued at $2,114,000 after purchasing an additional 7,537 shares in the last quarter. Hedge funds and other institutional investors own 97.37% of the company’s stock.

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.