Douglas Emmett, Inc. (NYSE:DEI) Sees Significant Growth in Short Interest

Douglas Emmett, Inc. (NYSE:DEI) was the recipient of 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 shares of the stock are short sold. Based on an average daily volume of 1,900,000 shares, the days-to-cover ratio is presently 10.9 days.

Wall Street Analysts Forecast Growth

DEI has been the subject of several research analyst reports. Jefferies Financial Group upgraded Douglas Emmett from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $10.00 to $15.00 in a research report on Tuesday, January 2nd. Piper Sandler cut their price objective on Douglas Emmett from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Douglas Emmett presently has an average rating of “Hold” and an average target price of $13.67.

Douglas Emmett Trading Up 0.9 %

Shares of Douglas Emmett stock traded up $0.12 during trading on Wednesday, reaching $12.88. 1,362,736 shares of the company were exchanged, compared to its average volume of 1,911,578. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 1.44. Douglas Emmett has a twelve month low of $10.09 and a twelve month high of $16.12. The business has a 50-day moving average price of $13.40 and a 200-day moving average price of $13.22. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -49.08 and a beta of 1.07.

Douglas Emmett Dividend Announcement

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

Institutional Trading of Douglas Emmett

A number of institutional investors have recently modified their holdings of DEI. Norges Bank bought a new stake in shares of Douglas Emmett in the fourth quarter valued at about $114,497,000. Price T Rowe Associates Inc. MD boosted its position in Douglas Emmett by 91.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,155,765 shares of the real estate investment trust’s stock valued at $88,232,000 after purchasing an additional 3,411,463 shares during the last quarter. Rush Island Management LP boosted its position in Douglas Emmett by 271.4% during the third quarter. Rush Island Management LP now owns 4,152,516 shares of the real estate investment trust’s stock valued at $52,986,000 after purchasing an additional 3,034,375 shares during the last quarter. Millennium Management LLC boosted its position in Douglas Emmett by 149.3% during the fourth quarter. Millennium Management LLC now owns 3,987,871 shares of the real estate investment trust’s stock valued at $62,530,000 after purchasing an additional 2,388,516 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Douglas Emmett by 26.8% during the third quarter. Wellington Management Group LLP now owns 9,201,972 shares of the real estate investment trust’s stock valued at $117,417,000 after purchasing an additional 1,947,720 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors.

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.