Douglas Emmett, Inc. (NYSE:DEI) Short Interest Update

Douglas Emmett, Inc. (NYSE:DEI) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 20,620,000 shares, an increase of 8.1% from the March 15th total of 19,080,000 shares. Approximately 12.8% of the company’s stock are sold short. Based on an average daily volume of 1,900,000 shares, the days-to-cover ratio is currently 10.9 days.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DEI. Jefferies Financial Group upgraded shares of Douglas Emmett from an “underperform” rating to a “hold” rating and raised their target price for the company from $10.00 to $15.00 in a research note on Tuesday, January 2nd. Piper Sandler lowered their target price on shares of Douglas Emmett from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Douglas Emmett has a consensus rating of “Hold” and an average target price of $13.67.

Douglas Emmett Price Performance

Shares of NYSE:DEI traded up $0.12 during midday trading on Wednesday, reaching $12.88. 1,362,736 shares of the company’s stock were exchanged, compared to its average volume of 1,911,586. The company’s 50 day simple moving average is $13.40 and its two-hundred day simple moving average is $13.22. The firm has a market capitalization of $2.16 billion, a PE ratio of -49.54 and a beta of 1.07. Douglas Emmett has a 12 month low of $10.09 and a 12 month high of $16.12. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.91 and a current ratio of 4.91.

Douglas Emmett Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Thursday, March 28th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 5.90%. The ex-dividend date of this dividend was Wednesday, March 27th. Douglas Emmett’s dividend payout ratio is currently -292.31%.

Institutional Investors Weigh In On Douglas Emmett

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DEI. Vanguard Group Inc. grew its position in shares of Douglas Emmett by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 26,187,297 shares of the real estate investment trust’s stock worth $379,716,000 after buying an additional 229,301 shares during the period. BlackRock Inc. grew its position in shares of Douglas Emmett by 3.8% during the 1st quarter. BlackRock Inc. now owns 21,032,102 shares of the real estate investment trust’s stock worth $259,326,000 after buying an additional 772,207 shares during the period. State Street Corp grew its position in shares of Douglas Emmett by 15.9% during the 2nd quarter. State Street Corp now owns 11,186,067 shares of the real estate investment trust’s stock worth $142,686,000 after buying an additional 1,537,089 shares during the period. Wellington Management Group LLP grew its position in shares of Douglas Emmett by 1.7% during the 4th quarter. Wellington Management Group LLP now owns 9,358,733 shares of the real estate investment trust’s stock worth $135,702,000 after buying an additional 156,761 shares during the period. Finally, Norges Bank acquired a new stake in shares of Douglas Emmett during the 4th quarter worth approximately $114,497,000. Institutional investors and hedge funds own 97.37% of the company’s stock.

Douglas Emmett Company Profile

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.