Westpac Banking Corp trimmed its position in Douglas Emmett, Inc. (NYSE:DEI) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 182,341 shares of the real estate investment trust’s stock after selling 1,600 shares during the period. Westpac Banking Corp owned 0.11% of Douglas Emmett worth $7,487,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Advisor Group Inc. grew its stake in Douglas Emmett by 451.6% in the third quarter. Advisor Group Inc. now owns 4,065 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 3,328 shares during the period. PNC Financial Services Group Inc. grew its stake in Douglas Emmett by 14.4% in the second quarter. PNC Financial Services Group Inc. now owns 4,120 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 520 shares during the period. CIBC Asset Management Inc purchased a new stake in Douglas Emmett in the third quarter worth $206,000. Timber Hill LLC purchased a new stake in Douglas Emmett in the third quarter worth $206,000. Finally, Virtu KCG Holdings LLC purchased a new stake in Douglas Emmett in the second quarter worth $206,000. 96.50% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on the company. Zacks Investment Research cut Douglas Emmett from a “hold” rating to a “sell” rating in a research note on Tuesday. Robert W. Baird reaffirmed a “buy” rating and issued a $45.00 price target on shares of Douglas Emmett in a research note on Tuesday, January 9th. KeyCorp reaffirmed a “hold” rating on shares of Douglas Emmett in a research note on Sunday, September 24th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $43.00 price target (up from $42.00) on shares of Douglas Emmett in a research note on Thursday, November 9th. Finally, TheStreet raised Douglas Emmett from a “c+” rating to a “b-” rating in a research note on Wednesday, November 15th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.13.
Douglas Emmett (NYSE:DEI) last released its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. Douglas Emmett had a return on equity of 2.58% and a net margin of 11.29%. The firm had revenue of $208.75 million for the quarter, compared to analysts’ expectations of $203.99 million. During the same period in the prior year, the firm posted $0.47 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. analysts anticipate that Douglas Emmett, Inc. will post 1.9 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Friday, December 29th were paid a $0.25 dividend. This is a boost from Douglas Emmett’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Thursday, December 28th. Douglas Emmett’s dividend payout ratio is currently 188.68%.
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About Douglas Emmett
Douglas Emmett, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is owner and operator of office and multifamily properties located in submarkets in Los Angeles and Honolulu. The Company operates through two segments: the acquisition, development, ownership and management of office real estate (Office Segment), and the acquisition, development, ownership and management of multifamily real estate (Multifamily Segment).
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