Douglas Emmett, Inc. (NYSE:DEI) Sees Large Drop in Short Interest

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Douglas Emmett, Inc. (NYSE:DEI) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 2,050,000 shares, a drop of 12.4% from the September 30th total of 2,340,000 shares. Currently, 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 729,500 shares, the days-to-cover ratio is currently 2.8 days.

Shares of DEI traded up $0.24 during trading hours on Monday, reaching $44.12. The stock had a trading volume of 11,244 shares, compared to its average volume of 629,158. Douglas Emmett has a 12 month low of $32.32 and a 12 month high of $43.86. The firm has a 50-day simple moving average of $42.83 and a 200 day simple moving average of $41.55. The company has a current ratio of 2.38, a quick ratio of 3.74 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $7.69 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 3.31 and a beta of 0.65.

Douglas Emmett (NYSE:DEI) last issued its earnings results on Tuesday, November 5th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.38). Douglas Emmett had a return on equity of 2.83% and a net margin of 12.05%. The firm had revenue of $238.07 million during the quarter, compared to the consensus estimate of $237.69 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. Douglas Emmett’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities analysts forecast that Douglas Emmett will post 2.1 EPS for the current year.

Several analysts have recently commented on DEI shares. Raymond James raised their price objective on shares of Douglas Emmett from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. ValuEngine raised shares of Douglas Emmett from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Robert W. Baird set a $51.00 price objective on shares of Douglas Emmett and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Zacks Investment Research downgraded shares of Douglas Emmett from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Barclays reaffirmed a “hold” rating and set a $47.00 price objective on shares of Douglas Emmett in a research report on Sunday, October 13th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.14.

Several institutional investors and hedge funds have recently modified their holdings of the stock. First Trust Advisors LP lifted its stake in Douglas Emmett by 52.9% during the 2nd quarter. First Trust Advisors LP now owns 88,194 shares of the real estate investment trust’s stock valued at $3,514,000 after acquiring an additional 30,520 shares in the last quarter. Altshuler Shaham Ltd lifted its stake in Douglas Emmett by 102.2% during the 2nd quarter. Altshuler Shaham Ltd now owns 2,218 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 1,121 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Douglas Emmett by 17.3% during the 2nd quarter. Renaissance Technologies LLC now owns 4,798,800 shares of the real estate investment trust’s stock valued at $191,184,000 after acquiring an additional 706,200 shares in the last quarter. Janus Henderson Group PLC bought a new position in Douglas Emmett during the 2nd quarter valued at $959,000. Finally, Exane Derivatives bought a new position in Douglas Emmett during the 2nd quarter valued at $194,000. Institutional investors own 90.71% 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.

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