Wells Fargo & Company Cuts Douglas Emmett (NYSE:DEI) Price Target to $16.00

Douglas Emmett (NYSE:DEI – Get Rating) had its price target lowered by Wells Fargo & Company from $18.00 to $16.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

A number of other research analysts also recently weighed in on DEI. Jefferies Financial Group downgraded shares of Douglas Emmett from a hold rating to an underperform rating and decreased their target price for the company from $17.00 to $13.00 in a research report on Monday, January 2nd. Citigroup decreased their target price on shares of Douglas Emmett from $17.00 to $16.00 and set a neutral rating for the company in a research report on Monday, December 12th. BMO Capital Markets downgraded shares of Douglas Emmett from a market perform rating to an underperform rating and decreased their target price for the company from $21.00 to $13.00 in a research report on Friday, March 3rd. StockNews.com started coverage on shares of Douglas Emmett in a research note on Thursday. They issued a hold rating for the company. Finally, Credit Suisse Group cut shares of Douglas Emmett from an outperform rating to a neutral rating and set a $16.00 price target for the company. in a research note on Monday, January 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Douglas Emmett has a consensus rating of Hold and an average price target of $20.00.

Douglas Emmett Stock Down 4.1 %

Shares of DEI stock opened at $11.39 on Thursday. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 20.71 and a beta of 0.94. Douglas Emmett has a 12-month low of $11.14 and a 12-month high of $34.70. The firm has a fifty day moving average of $15.05 and a 200-day moving average of $16.57. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 1.21.

Douglas Emmett Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.67%. The ex-dividend date of this dividend is Thursday, March 30th. Douglas Emmett’s dividend payout ratio is presently 138.18%.

Institutional Trading of Douglas Emmett

A number of hedge funds have recently modified their holdings of DEI. HighTower Advisors LLC acquired a new stake in shares of Douglas Emmett during the 1st quarter worth about $210,000. PNC Financial Services Group Inc. lifted its stake in shares of Douglas Emmett by 16.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,420 shares of the real estate investment trust’s stock worth $248,000 after buying an additional 1,071 shares during the last quarter. Natixis Advisors L.P. acquired a new stake in shares of Douglas Emmett during the 1st quarter worth about $371,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Douglas Emmett by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 64,314 shares of the real estate investment trust’s stock worth $2,149,000 after buying an additional 6,132 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new stake in Douglas Emmett in the 1st quarter worth about $448,000. Institutional investors and hedge funds own 97.25% of the company’s stock.

Douglas Emmett Company Profile

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Douglas Emmett, Inc is a real estate investment trust, engages in the acquisition, development, ownership, and management of real estate properties. It operates through the following segments: Office, and Multifamily. The Office segment comprises rental of office space and other tenant services, including parking and storage space rental.