Douglas Emmett, Inc. (NYSE:DEI) Sees Significant Growth in Short Interest

by · The Markets Daily

Douglas Emmett, Inc. (NYSE:DEI – Get Free Report) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 20,690,000 shares, an increase of 5.9% from the September 15th total of 19,540,000 shares. Currently, 12.9% of the shares of the company are short sold. Based on an average trading volume of 1,670,000 shares, the days-to-cover ratio is currently 12.4 days.

Douglas Emmett Price Performance

DEI traded up $0.36 during trading on Thursday, reaching $19.00. 1,510,389 shares of the company were exchanged, compared to its average volume of 1,664,217. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 1.47. The company has a market cap of $3.18 billion, a price-to-earnings ratio of -61.27 and a beta of 1.11. Douglas Emmett has a 12-month low of $10.76 and a 12-month high of $19.00. The company’s 50-day moving average is $16.53 and its two-hundred day moving average is $14.81.

Douglas Emmett (NYSE:DEI – Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.37). The firm had revenue of $245.80 million during the quarter, compared to analysts’ expectations of $246.62 million. Douglas Emmett had a negative return on equity of 0.88% and a negative net margin of 3.55%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 earnings per share. Research analysts forecast that Douglas Emmett will post 1.67 earnings per share for the current fiscal year.

Douglas Emmett Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders 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 annualized dividend and a dividend yield of 4.00%. Douglas Emmett’s payout ratio is currently -245.16%.

Analyst Ratings Changes

Several brokerages have recently issued reports on DEI. Piper Sandler raised their price target on shares of 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 their target price on Douglas Emmett from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Evercore ISI upped their price target on Douglas Emmett from $15.00 to $16.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price objective on Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Finally, Citigroup boosted their price objective 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Douglas Emmett presently has a consensus rating of “Hold” and a consensus target price of $16.29.

Read Our Latest Stock Report on Douglas Emmett

Institutional Investors Weigh In On Douglas Emmett

Institutional investors and hedge funds have recently made changes to their positions in the business. Wolverine Asset Management LLC bought a new position in Douglas Emmett in the 2nd quarter worth about $32,000. GAMMA Investing LLC increased its position in shares of Douglas Emmett by 44.6% in 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 during the last quarter. Quarry LP increased 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 worth $55,000 after purchasing an additional 2,505 shares during the last quarter. Aspire Private Capital LLC raised its stake in Douglas Emmett by 20.0% in the second quarter. Aspire Private Capital LLC now owns 9,537 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 1,592 shares in the last quarter. Finally, Xponance Inc. bought a new stake in Douglas Emmett during the second quarter valued at approximately $137,000. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Douglas Emmett Company Profile

(Get Free Report)

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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