Evercore ISI Forecasts Strong Price Appreciation for Douglas Emmett (NYSE:DEI) Stock

Douglas Emmett (NYSE:DEI) had its price target lifted by Evercore ISI from $16.00 to $19.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Several other research firms have also issued reports on DEI. Citigroup upped their price target 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. Piper Sandler increased their target price on Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, August 12th. JPMorgan Chase & Co. lifted their price target on Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Scotiabank boosted their price objective on Douglas Emmett from $14.00 to $16.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, Wells Fargo & Company raised 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. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Douglas Emmett currently has a consensus rating of “Hold” and an average price target of $16.71.

Douglas Emmett Stock Performance

Shares of NYSE DEI opened at $19.15 on Thursday. The stock’s 50-day moving average is $17.53 and its 200 day moving average is $15.40. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -192.80 and a beta of 1.10. Douglas Emmett has a 1-year low of $10.76 and a 1-year high of $19.50. The company has a current ratio of 4.09, a quick ratio of 5.11 and a debt-to-equity ratio of 1.51.

Douglas Emmett (NYSE:DEI) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.03 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.38). Douglas Emmett had a negative return on equity of 0.43% and a negative net margin of 1.68%. The business had revenue of $250.75 million for the quarter, compared to analysts’ expectations of $242.75 million. During the same period last year, the business posted $0.45 earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Douglas Emmett will post 1.69 EPS for the current fiscal year.

Douglas Emmett Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.76 annualized dividend and a dividend yield of 3.97%. Douglas Emmett’s dividend payout ratio (DPR) is presently -760.00%.

Hedge Funds Weigh In On Douglas Emmett

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wolverine Asset Management LLC bought a new position in Douglas Emmett in the second quarter worth $32,000. Venturi Wealth Management LLC bought a new stake in Douglas Emmett in the third quarter worth $48,000. Blue Trust Inc. grew its stake in shares of Douglas Emmett by 1,081.5% in the third quarter. Blue Trust Inc. now owns 3,710 shares of the real estate investment trust’s stock worth $65,000 after acquiring an additional 3,396 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Douglas Emmett by 44.6% during the third quarter. GAMMA Investing LLC now owns 3,811 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 1,175 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its position in shares of Douglas Emmett by 62.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 3,856 shares of the real estate investment trust’s stock worth $68,000 after purchasing an additional 1,476 shares during the last quarter. 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.