Douglas Emmett (NYSE:DEI) Reaches New 52-Week High – Time to Buy?

Shares of Douglas Emmett, Inc. (NYSE:DEI) hit a new 52-week high on Wednesday . The company traded as high as $19.47 and last traded at $19.15, with a volume of 48747 shares. The stock had previously closed at $18.48.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Douglas Emmett from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. raised their price target on shares of Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Scotiabank boosted their price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Piper Sandler raised their target price on Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, Citigroup boosted their price target 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $16.71.

Douglas Emmett Price Performance

The firm has a market cap of $3.22 billion, a PE ratio of -192.25 and a beta of 1.10. The stock has a 50 day simple moving average of $17.46 and a two-hundred day simple moving average of $15.34. 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) last posted its 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). The company had revenue of $250.75 million for the quarter, compared to analyst estimates of $242.75 million. Douglas Emmett had a negative return on equity of 0.42% and a negative net margin of 1.68%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $0.45 earnings per share. Sell-side analysts expect that Douglas Emmett, Inc. will post 1.68 earnings per share for the current year.

Douglas Emmett Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders 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 dividend on an annualized basis and a yield of 3.95%. Douglas Emmett’s payout ratio is -760.00%.

Institutional Investors Weigh In On Douglas Emmett

Institutional investors have recently modified their holdings of the business. Wolverine Asset Management LLC purchased a new position in Douglas Emmett during the second quarter worth approximately $32,000. Venturi Wealth Management LLC acquired a new position in Douglas Emmett during the third quarter worth $48,000. Quarry LP grew 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 valued at $55,000 after purchasing an additional 2,505 shares during the period. Blue Trust Inc. grew its position 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 valued at $65,000 after purchasing an additional 3,396 shares during the period. Finally, GAMMA Investing LLC increased its stake 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 worth $67,000 after purchasing an additional 1,175 shares in the last quarter. 97.37% of the stock is currently 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.