Douglas Emmett, Inc. (NYSE:DEI) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 1,699,500 shares, an increase of 20.3% from the June 30th total of 1,412,600 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily volume of 788,500 shares, the short-interest ratio is presently 2.2 days.
Separately, Zacks Investment Research upgraded Douglas Emmett from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $41.43.
NYSE:DEI traded up $0.36 during midday trading on Thursday, reaching $41.14. The company had a trading volume of 64,032 shares, compared to its average volume of 728,307. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 3.33 and a beta of 0.70. The business’s fifty day simple moving average is $40.50. Douglas Emmett has a 12-month low of $32.32 and a 12-month high of $42.41. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.74 and a quick ratio of 2.00.
Douglas Emmett (NYSE:DEI) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.01. The firm had revenue of $230.50 million during the quarter, compared to analyst estimates of $226.45 million. Douglas Emmett had a return on equity of 3.05% and a net margin of 13.54%. Douglas Emmett’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $0.51 earnings per share. As a group, equities research analysts predict that Douglas Emmett will post 2.11 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in DEI. Daiwa SB Investments Ltd. boosted its holdings in Douglas Emmett by 311.5% in the first quarter. Daiwa SB Investments Ltd. now owns 1,070 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 810 shares during the period. NEXT Financial Group Inc boosted its holdings in Douglas Emmett by 76.3% in the second quarter. NEXT Financial Group Inc now owns 1,733 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 750 shares during the period. Altshuler Shaham Ltd boosted its holdings in Douglas Emmett by 102.2% in the second quarter. Altshuler Shaham Ltd now owns 2,218 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 1,121 shares during the period. Exane Derivatives purchased a new position in Douglas Emmett in the second quarter valued at $194,000. Finally, Great Lakes Advisors LLC purchased a new position in Douglas Emmett in the second quarter valued at $201,000. Hedge funds and other institutional investors own 92.52% of the company’s stock.
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.
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