Douglas Emmett, Inc. (NYSE:DEI - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as $17.75 and last traded at $17.68, with a volume of 315706 shares. The stock had previously closed at $17.33.
DEI has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of Douglas Emmett from $15.00 to $17.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 11th. Evercore ISI boosted their price target on Douglas Emmett from $15.00 to $16.00 and gave the company an "in-line" rating in a report on Wednesday, August 28th. 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. Citigroup lifted their price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, September 12th. Finally, Scotiabank lifted their price target on Douglas Emmett from $14.00 to $16.00 and gave the stock a "sector perform" rating in a report on Monday, August 26th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $15.88.
View Our Latest Analysis on Douglas Emmett
The firm's fifty day simple moving average is $15.73 and its 200 day simple moving average is $14.34. The stock has a market capitalization of $2.94 billion, a P/E ratio of -55.90 and a beta of 1.10. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.11 and a current ratio of 5.11.
Douglas Emmett (NYSE:DEI - Get Free Report) 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 the consensus estimate of $0.43 by ($0.37). Douglas Emmett had a negative return on equity of 0.88% and a negative net margin of 3.55%. The company had revenue of $245.80 million for the quarter, compared to analyst estimates of $246.62 million. During the same quarter last year, the company posted $0.48 earnings per share. The firm's quarterly revenue was down 3.0% on a year-over-year basis. As a group, equities research analysts forecast that Douglas Emmett, Inc. will post 1.67 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Monday, September 30th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 annualized dividend and a yield of 4.32%. Douglas Emmett's payout ratio is -245.16%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Douglas Emmett during the fourth quarter worth about $26,467,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Douglas Emmett by 0.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 188,400 shares of the real estate investment trust's stock valued at $2,732,000 after purchasing an additional 1,700 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Douglas Emmett by 8.0% in the fourth quarter. Hsbc Holdings PLC now owns 3,375,431 shares of the real estate investment trust's stock worth $49,403,000 after acquiring an additional 249,482 shares during the last quarter. Evoke Wealth LLC purchased a new position in shares of Douglas Emmett in the fourth quarter worth $1,095,000. Finally, Heitman Real Estate Securities LLC raised its position in Douglas Emmett by 5.6% in the 4th quarter. Heitman Real Estate Securities LLC now owns 95,480 shares of the real estate investment trust's stock worth $1,384,000 after buying an additional 5,053 shares during the last quarter. 97.37% of the stock is owned by institutional investors.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Douglas Emmett, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Douglas Emmett wasn't on the list.
While Douglas Emmett currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.