Douglas Emmett (NYSE:DEI) Upgraded by Piper Sandler to “Overweight” Rating

Piper Sandler upgraded shares of Douglas Emmett (NYSE:DEI) from a neutral rating to an overweight rating in a research report report published on Monday morning, Marketbeat Ratings reports. Piper Sandler currently has $20.00 target price on the real estate investment trust’s stock.

Several other equities analysts have also issued reports on the company. Wedbush raised Douglas Emmett from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $19.00 to $21.00 in a research report on Thursday, January 2nd. Scotiabank upgraded Douglas Emmett from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $16.00 to $21.00 in a report on Thursday, November 14th. Evercore ISI boosted their price target on Douglas Emmett from $16.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group boosted their price target on Douglas Emmett from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.75.

Douglas Emmett Stock Performance

Shares of DEI stock opened at $16.74 on Monday. The stock has a fifty day moving average of $18.77 and a 200 day moving average of $17.06. Douglas Emmett has a 52 week low of $12.35 and a 52 week high of $20.50. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of -167.40 and a beta of 1.11. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 1.51.

Douglas Emmett (NYSE:DEI) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.38). The business had revenue of $250.75 million during the quarter, compared to analysts’ expectations of $242.75 million. Douglas Emmett had a negative return on equity of 0.43% and a negative net margin of 1.68%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. As a group, research analysts expect that Douglas Emmett will post 1.7 earnings per share for the current year.

Douglas Emmett Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.19 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.76 dividend on an annualized basis and a yield of 4.54%. Douglas Emmett’s dividend payout ratio is presently -760.00%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in shares of Douglas Emmett by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,171,839 shares of the real estate investment trust’s stock worth $73,312,000 after acquiring an additional 26,961 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Douglas Emmett by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 91,554 shares of the real estate investment trust’s stock worth $1,219,000 after acquiring an additional 3,183 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Douglas Emmett during the 3rd quarter worth approximately $650,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Douglas Emmett by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,797,822 shares of the real estate investment trust’s stock worth $66,728,000 after acquiring an additional 127,274 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Douglas Emmett by 43.0% during the 3rd quarter. Citigroup Inc. now owns 227,814 shares of the real estate investment trust’s stock worth $4,003,000 after acquiring an additional 68,507 shares in the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

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.