Victory Capital Management Inc. continued to hold its stake in Douglas Emmett Inc. (NYSE:DEI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,025 shares of the real estate investment trust’s stock at the end of the second quarter. Victory Capital Management Inc.’s holdings in Douglas Emmett were worth $107,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the company. Invictus RG acquired a new stake in shares of Douglas Emmett during the first quarter valued at about $151,000. Bank of Montreal Can purchased a new position in Douglas Emmett during the second quarter valued at $190,000. 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 last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Douglas Emmett during the first quarter valued at $226,000. Finally, Oakbrook Investments LLC purchased a new position in Douglas Emmett during the second quarter valued at $250,000. 97.75% of the stock is owned by institutional investors and hedge funds.
Douglas Emmett Inc. (NYSE:DEI) traded up 0.11% during trading on Friday, hitting $35.27. The company had a trading volume of 33,125 shares. Douglas Emmett Inc. has a 52-week low of $24.73 and a 52-week high of $38.71. The firm’s 50 day moving average is $36.88 and its 200-day moving average is $34.68. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 89.52 and a beta of 0.93.
Douglas Emmett (NYSE:DEI) last posted its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. Douglas Emmett had a net margin of 8.88% and a return on equity of 2.45%. The firm earned $187.22 million during the quarter, compared to the consensus estimate of $177.61 million. During the same quarter last year, the firm earned $0.40 EPS. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities analysts forecast that Douglas Emmett Inc. will post $1.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.22 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.88 annualized dividend and a yield of 2.50%. Douglas Emmett’s dividend payout ratio (DPR) is presently 225.65%.
DEI has been the topic of a number of recent analyst reports. DA Davidson raised their price target on Douglas Emmett from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research upgraded Douglas Emmett from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday. BTIG Research began coverage on Douglas Emmett in a research report on Thursday, August 25th. They issued a “neutral” rating on the stock. Mizuho lowered Douglas Emmett from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Thursday, August 4th. Finally, Citigroup Inc. lifted their price target on Douglas Emmett from $30.50 to $35.50 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $35.29.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 140,000 shares of the business’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $35.75, for a total value of $5,005,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.00% of the stock is currently owned by corporate insiders.
About Douglas Emmett
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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