Douglas Emmett Inc. (NYSE:DEI) has received an average recommendation of “Hold” from the thirteen analysts that are currently covering the firm. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $35.15.
DEI has been the topic of a number of research analyst reports. BTIG Research assumed coverage on Douglas Emmett in a report on Thursday, August 25th. They set a “neutral” rating on the stock. Barclays PLC restated an “underweight” rating and issued a $33.00 target price (up previously from $31.00) on shares of Douglas Emmett in a research note on Tuesday, July 19th. BMO Capital Markets downgraded Douglas Emmett from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $35.00 to $34.00 in a research note on Wednesday, June 1st. They noted that the move was a valuation call. Mizuho downgraded Douglas Emmett from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Thursday, August 4th. Finally, Zacks Investment Research downgraded Douglas Emmett from a “buy” rating to a “hold” rating in a research note on Monday, August 8th.
Douglas Emmett (NYSE:DEI) traded up 0.56% during midday trading on Monday, reaching $37.99. The company’s stock had a trading volume of 179,271 shares. The stock has a 50 day moving average of $37.21 and a 200 day moving average of $34.20. Douglas Emmett has a 52 week low of $24.73 and a 52 week high of $38.71. The firm has a market capitalization of $5.74 billion, a PE ratio of 96.42 and a beta of 0.91.
Douglas Emmett (NYSE:DEI) last issued its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Douglas Emmett had a return on equity of 2.45% and a net margin of 8.88%. The business had revenue of $187.22 million for the quarter, compared to the consensus estimate of $177.61 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. Douglas Emmett’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities research analysts predict that Douglas Emmett will post $1.79 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.32%. Douglas Emmett’s dividend payout ratio is presently 225.65%.
In related news, Chairman Dan A. Emmett sold 140,000 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $36.99, for a total transaction of $5,178,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 23.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its position in Douglas Emmett by 0.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 7,400 shares of the real estate investment trust’s stock valued at $263,000 after buying an additional 47 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in Douglas Emmett by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 24,241 shares of the real estate investment trust’s stock valued at $861,000 after buying an additional 92 shares during the period. BlackRock Japan Co. Ltd boosted its position in Douglas Emmett by 1.3% in the first quarter. BlackRock Japan Co. Ltd now owns 7,430 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 93 shares during the period. Capstone Asset Management Co. boosted its position in Douglas Emmett by 1.1% in the second quarter. Capstone Asset Management Co. now owns 11,358 shares of the real estate investment trust’s stock valued at $403,000 after buying an additional 120 shares during the period. Finally, Bollard Group LLC boosted its position in Douglas Emmett by 0.6% in the second quarter. Bollard Group LLC now owns 25,859 shares of the real estate investment trust’s stock valued at $919,000 after buying an additional 163 shares during the period. 97.75% of the stock is owned by institutional investors and hedge funds.
Douglas Emmett Company Profile
Douglas Emmett, Inc is a self-administered and self-managed real estate investment trust. The Company is owner and operator of office and multifamily properties located in submarkets in California and Hawaii. The Company operates in two segments: the acquisition, development, ownership and management of office real estate, and the acquisition, development, ownership and management of multifamily real estate.
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