Douglas Emmett (NYSE:DEI) Stock Price Crosses Above Fifty Day Moving Average After Earnings Miss

Douglas Emmett, Inc. (NYSE:DEI)’s share price passed above its 50-day moving average during trading on Wednesday following a stronger than expected earnings report. 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.

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 during the quarter, compared to the consensus estimate of $256.76 million. Douglas Emmett had a negative net margin of 2.04% and a negative return on equity of 0.60%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 EPS.

Douglas Emmett Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.76 annualized dividend and a yield of 7.2%. Douglas Emmett’s dividend payout ratio (DPR) is presently -506.67%.

Analyst Upgrades and Downgrades

DEI has been the topic of a number of research reports. Weiss Ratings lowered shares of Douglas Emmett from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Wall Street Zen upgraded Douglas Emmett from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Piper Sandler reduced their price target on Douglas Emmett from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Cantor Fitzgerald raised 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. Finally, JPMorgan Chase & Co. increased their price objective on Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, September 9th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Douglas Emmett has an average rating of “Hold” and a consensus target price of $13.14.

Institutional Investors Weigh In On Douglas Emmett

Institutional investors and hedge funds have recently modified their holdings of the company. Nissay Asset Management Corp Japan grew its holdings in Douglas Emmett by 4.0% during the second quarter. Nissay Asset Management Corp Japan now owns 26,804 shares of the real estate investment trust’s stock worth $316,000 after purchasing an additional 1,019 shares during the period. GAMMA Investing LLC increased its position in Douglas Emmett by 19.5% during the second quarter. GAMMA Investing LLC now owns 11,735 shares of the real estate investment trust’s stock worth $138,000 after buying an additional 1,912 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Douglas Emmett by 164.8% in the third quarter. Farther Finance Advisors LLC now owns 4,256 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 2,649 shares during the period. Amundi raised its stake in Douglas Emmett by 2.4% in the first quarter. Amundi now owns 117,918 shares of the real estate investment trust’s stock valued at $1,111,000 after buying an additional 2,754 shares during the period. Finally, Corient Private Wealth LP raised its stake in Douglas Emmett by 12.5% in the second quarter. Corient Private Wealth LP now owns 26,453 shares of the real estate investment trust’s stock valued at $312,000 after buying an additional 2,943 shares during the period. 97.37% of the stock is owned by institutional investors.

Douglas Emmett Stock Performance

The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -81.73 and a beta of 1.18. The stock has a 50-day moving average price of $10.27 and a 200-day moving average price of $10.87. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.60 and a quick ratio of 2.60.

Douglas Emmett Company Profile

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.