Douglas Emmett, Inc. (NYSE:DEI) Sees Significant Growth in Short Interest

Douglas Emmett, Inc. (NYSE:DEI) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 20,690,000 shares, an increase of 5.9% from the September 15th total of 19,540,000 shares. Currently, 12.9% of the shares of the company are short sold. Based on an average trading volume of 1,670,000 shares, the days-to-cover ratio is currently 12.4 days.

Douglas Emmett Price Performance

DEI traded up $0.36 during trading on Thursday, reaching $19.00. 1,510,389 shares of the company were exchanged, compared to its average volume of 1,664,217. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 1.47. The company has a market cap of $3.18 billion, a price-to-earnings ratio of -61.27 and a beta of 1.11. Douglas Emmett has a 12-month low of $10.76 and a 12-month high of $19.00. The company’s 50-day moving average is $16.53 and its two-hundred day moving average is $14.81.

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

Douglas Emmett Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were issued a $0.19 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 4.00%. Douglas Emmett’s payout ratio is currently -245.16%.

Analyst Ratings Changes

Several brokerages have recently issued reports on DEI. Piper Sandler raised their price target on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Scotiabank raised their target price on Douglas Emmett from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Evercore ISI upped their price target on Douglas Emmett from $15.00 to $16.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price objective on Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Finally, Citigroup boosted their price objective on Douglas Emmett from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Douglas Emmett presently has a consensus rating of “Hold” and a consensus target price of $16.29.

Institutional Investors Weigh In On Douglas Emmett

Institutional investors and hedge funds have recently made changes to their positions in the business. Wolverine Asset Management LLC bought a new position in Douglas Emmett in the 2nd quarter worth about $32,000. GAMMA Investing LLC increased 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 last quarter. Quarry LP increased its position in shares of Douglas Emmett by 155.0% in the second quarter. Quarry LP now owns 4,121 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 2,505 shares during the last quarter. Aspire Private Capital LLC raised its stake in 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 valued at $127,000 after purchasing an additional 1,592 shares in the last quarter. Finally, Xponance Inc. bought a new stake in Douglas Emmett during the second quarter valued at approximately $137,000. 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.