Douglas Emmett, Inc. (NYSE:DEI) Short Interest Down 8.8% in November

Douglas Emmett, Inc. (NYSE:DEI) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 17,300,000 shares, a drop of 8.8% from the October 31st total of 18,960,000 shares. Currently, 10.8% of the company’s stock are sold short. Based on an average daily trading volume, of 1,520,000 shares, the days-to-cover ratio is currently 11.4 days.

Wall Street Analysts Forecast Growth

DEI has been the topic of several research reports. Scotiabank raised shares of Douglas Emmett from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $16.00 to $21.00 in a research note on Thursday, November 14th. JPMorgan Chase & Co. raised their price target on Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Evercore ISI upped their price target on shares of Douglas Emmett from $16.00 to $19.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their price objective on shares of Douglas Emmett from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, September 11th. Finally, Piper Sandler lifted their target price on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Douglas Emmett has an average rating of “Hold” and a consensus price target of $17.43.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DEI. Massachusetts Financial Services Co. MA increased its position in Douglas Emmett by 2.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,090,198 shares of the real estate investment trust’s stock worth $107,681,000 after buying an additional 165,425 shares in the last quarter. Bamco Inc. NY boosted its position in shares of Douglas Emmett by 0.3% in the third quarter. Bamco Inc. NY now owns 6,389,444 shares of the real estate investment trust’s stock worth $112,263,000 after purchasing an additional 20,000 shares during the period. FMR LLC raised its position in shares of Douglas Emmett by 8.5% during the 3rd quarter. FMR LLC now owns 4,883,814 shares of the real estate investment trust’s stock valued at $85,809,000 after purchasing an additional 384,371 shares during the period. Geode Capital Management LLC lifted its stake in shares of Douglas Emmett by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,171,839 shares of the real estate investment trust’s stock valued at $73,312,000 after buying an additional 26,961 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Douglas Emmett by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,797,822 shares of the real estate investment trust’s stock worth $66,728,000 after buying an additional 127,274 shares during the period. Institutional investors own 97.37% of the company’s stock.

Douglas Emmett Price Performance

NYSE:DEI traded down $0.10 during mid-day trading on Tuesday, reaching $19.15. The company’s stock had a trading volume of 697,539 shares, compared to its average volume of 1,440,787. The firm’s fifty day moving average price is $18.34 and its two-hundred day moving average price is $15.97. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.09 and a quick ratio of 4.09. Douglas Emmett has a 12-month low of $12.35 and a 12-month high of $19.80.

Douglas Emmett (NYSE:DEI) last issued its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.38). Douglas Emmett had a negative net margin of 1.68% and a negative return on equity of 0.43%. The company had revenue of $250.75 million for the quarter, compared to the consensus estimate of $242.75 million. During the same quarter last year, the company earned $0.45 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, research analysts expect that Douglas Emmett will post 1.7 earnings per share for the current fiscal year.

Douglas Emmett Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Monday, September 30th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Monday, September 30th. Douglas Emmett’s payout ratio is currently -760.00%.

About Douglas Emmett

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.