Douglas Emmett, Inc. (NYSE:DEI - Get Free Report)'s share price passed above its 50-day moving average during trading on Wednesday after the company announced better than expected quarterly earnings. The stock has a 50-day moving average of $10.27 and traded as high as $10.68. Douglas Emmett shares last traded at $10.6250, with a volume of 3,180,771 shares changing hands.
The real estate investment trust reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.38). The company had revenue of $260.86 million for the quarter, compared to analysts' expectations of $256.76 million. Douglas Emmett had a negative net margin of 2.04% and a negative return on equity of 0.60%. The business's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share.
Douglas Emmett Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 7.2%. The ex-dividend date was Wednesday, September 30th. Douglas Emmett's payout ratio is currently -506.67%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Piper Sandler cut their price target on Douglas Emmett from $14.00 to $11.00 and set a "neutral" rating for the company in a research note on Monday, October 12th. Cantor Fitzgerald boosted their price target on Douglas Emmett from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Wall Street Zen upgraded Douglas Emmett from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. JPMorgan Chase & Co. increased their price objective on Douglas Emmett from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Wednesday, September 9th. Finally, Scotiabank cut their price objective on shares of Douglas Emmett from $13.00 to $12.00 and set a "sector perform" rating on the stock in a research report on Thursday, September 17th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $13.14.
Get Our Latest Stock Analysis on DEI
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new position in Douglas Emmett during the 2nd quarter worth $2,254,000. Bank of America Corp DE acquired a new stake in Douglas Emmett in the second quarter worth about $9,789,000. Readystate Asset Management LP acquired a new stake in Douglas Emmett in the second quarter worth about $1,161,000. Quantinno Capital Management LP increased its position in Douglas Emmett by 52.4% in the first quarter. Quantinno Capital Management LP now owns 377,327 shares of the real estate investment trust's stock worth $3,554,000 after purchasing an additional 129,785 shares during the period. Finally, BlackRock Inc. acquired a new stake in Douglas Emmett in the second quarter worth about $287,803,000. 97.37% of the stock is owned by institutional investors.
Douglas Emmett Price Performance
The stock has a market capitalization of $1.78 billion, a P/E ratio of -81.73 and a beta of 1.18. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 1.63. The company has a fifty day simple moving average of $10.27 and a two-hundred day simple moving average of $10.87.
About Douglas Emmett
(
Get Free Report)
Douglas Emmett, Inc NYSE: DEI is a self-administered and self-managed real estate investment trust (REIT) that owns, acquires, develops, redevelops and manages office and multifamily apartment properties. The company focuses on high-quality assets in supply-constrained markets with strong employment and housing demand.
Douglas Emmett's portfolio is concentrated in Southern California and Honolulu. Its office properties are primarily located in prominent Los Angeles submarkets, including Century City, Brentwood, Westwood, Santa Monica, Warner Center and the Wilshire Corridor.
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