Douglas Emmett (NYSE:DEI) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Douglas Emmett (NYSE:DEI) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

Other research analysts have also recently issued research reports about the company. Scotiabank cut their target price on 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. Cantor Fitzgerald increased their price target on Douglas Emmett from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Piper Sandler dropped their price objective on Douglas Emmett from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, October 12th. JPMorgan Chase & Co. lifted their price objective on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, September 9th. Finally, Weiss Ratings lowered shares of Douglas Emmett from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.14.

Douglas Emmett Stock Up 2.2%

Shares of NYSE DEI opened at $10.39 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.01 and a quick ratio of 2.60. The company has a 50-day moving average price of $10.18 and a 200-day moving average price of $10.86. The stock has a market capitalization of $1.74 billion, a P/E ratio of -79.96 and a beta of 1.18. Douglas Emmett has a 1 year low of $9.04 and a 1 year high of $12.97.

Douglas Emmett (NYSE:DEI) last posted its earnings results on Tuesday, November 3rd. The real estate investment trust reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). Douglas Emmett had a negative return on equity of 0.60% and a negative net margin of 2.04%. The business had revenue of $260.86 million during the quarter, compared to analyst estimates of $256.76 million. During the same quarter in the prior year, the company earned $0.34 EPS. The company’s revenue was up 4.0% on a year-over-year basis. On average, equities research analysts forecast that Douglas Emmett will post 1.41 EPS for the current fiscal year.

Douglas Emmett Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date was Wednesday, September 30th. Douglas Emmett’s dividend payout ratio (DPR) is -584.62%.

Institutional Trading of Douglas Emmett

Hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Douglas Emmett in the 2nd quarter valued at about $2,254,000. Bank of America Corp DE purchased a new position in shares of Douglas Emmett during the second quarter worth about $9,789,000. Readystate Asset Management LP purchased a new position in shares of Douglas Emmett during the second quarter worth about $1,161,000. Quantinno Capital Management LP grew its holdings in shares of Douglas Emmett by 52.4% during 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 in the last quarter. Finally, BlackRock Inc. bought a new position in shares of Douglas Emmett in the second quarter worth approximately $287,803,000. Institutional investors own 97.37% of the company’s stock.

Douglas Emmett Company Profile

Douglas Emmett, Inc is a real estate investment trust (REIT) that owns, operates and acquires office and multifamily properties. Its portfolio is concentrated in established neighborhoods in Los Angeles and Honolulu, with properties serving businesses and residents in those markets.

The company focuses on office buildings and apartment communities in areas including West Los Angeles and Honolulu. Its business includes managing and leasing its properties, as well as pursuing acquisitions and other opportunities to grow and maintain its portfolio.

Douglas Emmett became a publicly traded REIT in 2006.