Douglas Emmett (NYSE:DEI) Reaches New 52-Week High – Still a Buy?

Douglas Emmett, Inc. (NYSE:DEI) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $18.03 and last traded at $18.02, with a volume of 560103 shares trading hands. The stock had previously closed at $17.64.

Wall Street Analyst Weigh In

DEI has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Scotiabank lifted their target price on shares of Douglas Emmett from $14.00 to $16.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Wells Fargo & Company lifted their target price 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. Citigroup lifted their target price 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. Finally, Evercore ISI lifted their target price on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.29.

Douglas Emmett Price Performance

The business’s 50 day moving average price is $16.26 and its 200 day moving average price is $14.69. The company has a debt-to-equity ratio of 1.47, a current ratio of 5.11 and a quick ratio of 5.11. The stock has a market capitalization of $3.02 billion, a P/E ratio of -56.90 and a beta of 1.11.

Douglas Emmett (NYSE:DEI) last announced its earnings results on Thursday, August 8th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.37). The business had revenue of $245.80 million for the quarter, compared to the consensus estimate of $246.62 million. Douglas Emmett had a negative net margin of 3.55% and a negative return on equity of 0.88%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 earnings per share. Sell-side analysts forecast that Douglas Emmett, Inc. will post 1.67 EPS for the current year.

Douglas Emmett Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Monday, September 30th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 4.22%. Douglas Emmett’s dividend payout ratio (DPR) is -245.16%.

Institutional Trading of Douglas Emmett

Several large investors have recently added to or reduced their stakes in the business. Inspire Investing LLC boosted its position in shares of Douglas Emmett by 3.4% in the second quarter. Inspire Investing LLC now owns 26,491 shares of the real estate investment trust’s stock worth $353,000 after purchasing an additional 883 shares during the period. Arizona State Retirement System boosted its position in shares of Douglas Emmett by 2.2% in the second quarter. Arizona State Retirement System now owns 46,850 shares of the real estate investment trust’s stock worth $624,000 after purchasing an additional 1,027 shares during the period. GAMMA Investing LLC boosted its position in shares of Douglas Emmett by 44.6% in the third quarter. GAMMA Investing LLC now owns 3,811 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 1,175 shares during the period. AQR Capital Management LLC boosted its position in shares of Douglas Emmett by 3.9% in the second quarter. AQR Capital Management LLC now owns 36,432 shares of the real estate investment trust’s stock worth $479,000 after purchasing an additional 1,377 shares during the period. Finally, Aspire Private Capital LLC boosted its position in shares of Douglas Emmett by 20.0% in the second quarter. Aspire Private Capital LLC now owns 9,537 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 1,592 shares during the period. 97.37% of the stock is currently owned by institutional investors.

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.