Douglas Emmett (NYSE:DEI) Trading Down 4.1% After Analyst Downgrade

Douglas Emmett, Inc. (NYSE:DEI) shares were down 4.1% during mid-day trading on Monday after Piper Sandler lowered their price target on the stock from $15.00 to $13.00. Piper Sandler currently has a neutral rating on the stock. Douglas Emmett traded as low as $10.76 and last traded at $10.84. Approximately 116,270 shares changed hands during trading, a decline of 96% from the average daily volume of 2,750,844 shares. The stock had previously closed at $11.30.

A number of other equities research analysts have also recently commented on DEI. Bank of America cut shares of Douglas Emmett from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $12.00 to $10.00 in a research note on Tuesday, August 8th. Evercore ISI dropped their price objective on shares of Douglas Emmett from $15.00 to $13.00 in a research note on Monday, October 9th. Raymond James dropped their price objective on shares of Douglas Emmett from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Wedbush started coverage on shares of Douglas Emmett in a research note on Tuesday, October 3rd. They set a “neutral” rating and a $13.00 price objective on the stock. Finally, KeyCorp started coverage on shares of Douglas Emmett in a research note on Monday, September 11th. They set a “sector weight” rating on the stock. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.91.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Natixis Advisors L.P. purchased a new position in Douglas Emmett in the 3rd quarter valued at $276,000. Mariner LLC raised its holdings in shares of Douglas Emmett by 13.3% during the 3rd quarter. Mariner LLC now owns 22,934 shares of the real estate investment trust’s stock worth $293,000 after acquiring an additional 2,686 shares during the period. LPL Financial LLC raised its holdings in shares of Douglas Emmett by 31.6% during the 3rd quarter. LPL Financial LLC now owns 28,307 shares of the real estate investment trust’s stock worth $361,000 after acquiring an additional 6,793 shares during the period. Lasalle Investment Management Securities LLC purchased a new position in shares of Douglas Emmett during the 3rd quarter worth $13,648,000. Finally, Invesco Ltd. raised its holdings in shares of Douglas Emmett by 5.1% during the 3rd quarter. Invesco Ltd. now owns 523,560 shares of the real estate investment trust’s stock worth $6,681,000 after acquiring an additional 25,610 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Douglas Emmett Stock Performance

The company has a current ratio of 3.86, a quick ratio of 3.86 and a debt-to-equity ratio of 1.38. The firm has a fifty day moving average price of $12.39 and a 200 day moving average price of $12.64. The firm has a market cap of $1.81 billion, a PE ratio of 90.67 and a beta of 1.03.

Douglas Emmett Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th were issued a dividend of $0.19 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.76 annualized dividend and a dividend yield of 7.02%. Douglas Emmett’s dividend payout ratio is presently 633.33%.

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.