Standard Life Investments LTD reduced its stake in Douglas Emmett Inc. (NYSE:DEI) by 44.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,376 shares of the real estate investment trust’s stock after selling 153,442 shares during the period. Standard Life Investments LTD’s holdings in Douglas Emmett were worth $6,870,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of DEI. Retirement Systems of Alabama raised its position in shares of Douglas Emmett by 0.4% in the second quarter. Retirement Systems of Alabama now owns 181,128 shares of the real estate investment trust’s stock valued at $6,434,000 after buying an additional 640 shares during the period. Bank of Montreal Can purchased a new position in shares of Douglas Emmett during the second quarter valued at $190,000. Daiwa Securities Group Inc. raised its position in shares of Douglas Emmett by 34.4% in the second quarter. Daiwa Securities Group Inc. now owns 6,981,183 shares of the real estate investment trust’s stock valued at $247,971,000 after buying an additional 1,786,561 shares during the period. New York State Teachers Retirement System raised its position in shares of Douglas Emmett by 82.8% in the second quarter. New York State Teachers Retirement System now owns 35,100 shares of the real estate investment trust’s stock valued at $1,247,000 after buying an additional 15,900 shares during the period. Finally, Oakbrook Investments LLC purchased a new position in shares of Douglas Emmett during the second quarter valued at $250,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.
Douglas Emmett Inc. (NYSE:DEI) traded up 0.17% during trading on Friday, reaching $35.29. The company had a trading volume of 502,923 shares. Douglas Emmett Inc. has a 12-month low of $24.73 and a 12-month high of $38.71. The firm has a 50-day moving average price of $36.84 and a 200 day moving average price of $34.69. The stock has a market cap of $5.33 billion, a P/E ratio of 89.57 and a beta of 0.93.
Douglas Emmett (NYSE:DEI) last released its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, beating the 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 business earned $187.22 million during the quarter, compared to analyst estimates of $177.61 million. During the same quarter in the previous year, the business earned $0.40 EPS. Douglas Emmett’s quarterly revenue was up 16.7% compared to the same quarter last year. Equities research analysts predict that Douglas Emmett Inc. will post $1.79 EPS 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 paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Wednesday, September 28th. Douglas Emmett’s payout ratio is presently 225.65%.
Several brokerages recently weighed in on DEI. Zacks Investment Research raised 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. Barclays PLC raised their price objective on Douglas Emmett from $33.00 to $35.00 and gave the company an “underweight” rating in a research report on Monday, August 29th. BTIG Research began coverage on Douglas Emmett in a research report on Thursday, August 25th. They issued a “neutral” rating on the stock. DA Davidson raised their price objective on Douglas Emmett from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, Mizuho lowered Douglas Emmett from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Thursday, August 4th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target 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 Monday, August 22nd. The shares were sold at an average price of $36.99, for a total transaction of $5,178,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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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