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

Douglas Emmett, Inc. (NYSE:DEI) saw a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 17,300,000 shares, a decrease of 8.8% from the October 31st total of 18,960,000 shares. Approximately 10.8% of the shares of the stock are short sold. Based on an average daily volume of 1,520,000 shares, the short-interest ratio is presently 11.4 days.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DEI shares. Citigroup upped their price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Wells Fargo & Company upped their target price on Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Piper Sandler upped 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. Scotiabank raised Douglas Emmett from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $16.00 to $21.00 in a research note on Thursday, November 14th. Finally, Evercore ISI upped their target price on Douglas Emmett from $16.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.43.

Douglas Emmett Price Performance

Shares of Douglas Emmett stock opened at $19.15 on Wednesday. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.21 billion, a PE ratio of -191.50 and a beta of 1.11. The business has a 50 day moving average of $18.37 and a 200 day moving average of $16.00. Douglas Emmett has a 52 week low of $12.35 and a 52 week high of $19.80.

Douglas Emmett (NYSE:DEI) last posted its quarterly earnings data 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 return on equity of 0.43% and a negative net margin of 1.68%. The firm had revenue of $250.75 million during the quarter, compared to the consensus estimate of $242.75 million. During the same quarter last year, the company posted $0.45 EPS. Douglas Emmett’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities research analysts forecast that Douglas Emmett will post 1.7 earnings per share for the current year.

Douglas Emmett Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Investors 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 annualized dividend and a dividend yield of 3.97%. Douglas Emmett’s dividend payout ratio (DPR) is presently -760.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DEI. Victory Capital Management Inc. lifted its stake in shares of Douglas Emmett by 4,395.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,578,205 shares of the real estate investment trust’s stock worth $27,729,000 after purchasing an additional 1,543,099 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Douglas Emmett by 379.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,085,427 shares of the real estate investment trust’s stock worth $19,071,000 after buying an additional 858,857 shares in the last quarter. FMR LLC increased its stake in Douglas Emmett by 8.5% in the 3rd quarter. FMR LLC now owns 4,883,814 shares of the real estate investment trust’s stock worth $85,809,000 after buying an additional 384,371 shares in the last quarter. NFJ Investment Group LLC purchased a new stake in Douglas Emmett in the 3rd quarter worth $6,210,000. Finally, Manning & Napier Advisors LLC purchased a new stake in Douglas Emmett in the 2nd quarter worth $3,825,000. 97.37% of the stock is owned by hedge funds and other institutional investors.

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.