Douglas Emmett (NYSE:DEI) Raised to “Sector Outperform” at Scotiabank

Scotiabank upgraded shares of Douglas Emmett (NYSE:DEI) from a sector perform rating to a sector outperform rating in a research report report published on Thursday, Marketbeat.com reports. The brokerage currently has $21.00 price target on the real estate investment trust’s stock, up from their prior price target of $16.00.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Wells Fargo & Company upped their target price on Douglas Emmett from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Evercore ISI increased their price objective on shares of Douglas Emmett from $16.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Citigroup increased their price target on Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Piper Sandler boosted their price objective on Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.43.

Douglas Emmett Price Performance

Shares of DEI stock opened at $18.39 on Thursday. Douglas Emmett has a fifty-two week low of $11.08 and a fifty-two week high of $19.59. The company has a debt-to-equity ratio of 1.51, a quick ratio of 5.11 and a current ratio of 4.09. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of -183.90 and a beta of 1.10. The stock’s 50-day simple moving average is $17.79 and its 200-day simple moving average is $15.56.

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

Douglas Emmett Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 4.13%. Douglas Emmett’s dividend payout ratio is currently -760.00%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. ProShare Advisors LLC increased its stake in Douglas Emmett by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 32,643 shares of the real estate investment trust’s stock worth $453,000 after buying an additional 2,234 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Douglas Emmett in the 1st quarter valued at $430,000. State Board of Administration of Florida Retirement System increased its stake in Douglas Emmett by 187.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 194,108 shares of the real estate investment trust’s stock worth $2,692,000 after purchasing an additional 126,618 shares during the period. Centersquare Investment Management LLC increased its stake in Douglas Emmett by 20.8% during the 1st quarter. Centersquare Investment Management LLC now owns 4,363,009 shares of the real estate investment trust’s stock worth $59,817,000 after buying an additional 751,419 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in shares of Douglas Emmett in the first quarter valued at $237,000. 97.37% of the stock is owned by institutional investors and hedge funds.

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.