Shares of Douglas Emmett, Inc. (NYSE:DEI – Get Free Report) traded down 5.8% on Friday after Piper Sandler lowered their price target on the stock from $17.00 to $15.00. Piper Sandler currently has a neutral rating on the stock. Douglas Emmett traded as low as $13.40 and last traded at $13.41. 862,914 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 2,018,743 shares. The stock had previously closed at $14.24.
Separately, Jefferies Financial Group raised Douglas Emmett from an “underperform” rating to a “hold” rating and raised their price objective for the company from $10.00 to $15.00 in a research report on Tuesday, January 2nd. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.63.
Hedge Funds Weigh In On Douglas Emmett
A number of hedge funds have recently added to or reduced their stakes in DEI. Quantbot Technologies LP bought a new position in shares of Douglas Emmett in the 1st quarter valued at $40,000. GAMMA Investing LLC bought a new stake in Douglas Emmett during the 4th quarter worth $43,000. Frazier Financial Advisors LLC bought a new stake in Douglas Emmett during the 4th quarter worth $46,000. Advisory Services Network LLC lifted its holdings in Douglas Emmett by 94.7% during the 1st quarter. Advisory Services Network LLC now owns 3,695 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 1,797 shares during the period. Finally, Quarry LP acquired a new position in Douglas Emmett during the 4th quarter worth about $57,000. Institutional investors own 97.37% of the company’s stock.
Douglas Emmett Price Performance
The business has a 50 day moving average price of $13.59 and a 200-day moving average price of $13.19. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.91 and a current ratio of 4.91. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -51.46 and a beta of 1.06.
Douglas Emmett Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date is Wednesday, March 27th. Douglas Emmett’s dividend payout ratio is currently -292.31%.
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.