Wells Fargo & Company Cuts Douglas Emmett (NYSE:DEI) Price Target to $16.00

Douglas Emmett (NYSE:DEI) had its target price reduced by Wells Fargo & Company from $20.00 to $16.00 in a report issued on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the real estate investment trust’s stock.

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group started coverage on shares of Douglas Emmett in a report on Monday, March 17th. They set a “hold” rating and a $16.00 target price on the stock. StockNews.com upgraded shares of Douglas Emmett from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.38.

Douglas Emmett Stock Down 4.1%

Shares of NYSE DEI opened at $14.14 on Monday. The company has a quick ratio of 4.09, a current ratio of 4.32 and a debt-to-equity ratio of 1.50. Douglas Emmett has a 52 week low of $12.39 and a 52 week high of $20.50. The firm’s fifty day moving average is $14.68 and its 200 day moving average is $16.84. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 108.74 and a beta of 1.21.

Douglas Emmett (NYSE:DEI) last released its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. The business had revenue of $251.54 million for the quarter, compared to analysts’ expectations of $246.49 million. Douglas Emmett had a net margin of 2.38% and a return on equity of 0.63%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 earnings per share. On average, equities research analysts expect that Douglas Emmett will post 1.45 earnings per share for the current year.

Douglas Emmett Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 5.38%. The ex-dividend date was Monday, March 31st. Douglas Emmett’s payout ratio is currently 237.50%.

Institutional Investors Weigh In On Douglas Emmett

Several hedge funds and other institutional investors have recently made changes to their positions in DEI. Northwestern Mutual Wealth Management Co. purchased a new stake in Douglas Emmett in the 1st quarter worth approximately $30,000. Brooklyn Investment Group boosted its stake in Douglas Emmett by 9,036.1% in the 1st quarter. Brooklyn Investment Group now owns 3,289 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 3,253 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Douglas Emmett by 203.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,927 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 1,964 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Douglas Emmett during the 4th quarter valued at approximately $56,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Douglas Emmett during the 1st quarter valued at approximately $76,000. Hedge funds and other institutional investors 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.