Janney Montgomery Scott started coverage on shares of Douglas Emmett, Inc. (NYSE:DEI) in a research note published on Friday, September 8th, MarketBeat reports. The firm issued a neutral rating on the real estate investment trust’s stock.
A number of other brokerages have also issued reports on DEI. BidaskClub raised Douglas Emmett from a sell rating to a hold rating in a research note on Thursday, June 15th. BMO Capital Markets reaffirmed a hold rating and issued a $39.00 price target on shares of Douglas Emmett in a research note on Tuesday, July 4th. Zacks Investment Research lowered Douglas Emmett from a buy rating to a hold rating in a research note on Friday, August 4th. Stifel Nicolaus raised Douglas Emmett from a hold rating to a buy rating and boosted their price objective for the stock from $38.00 to $42.00 in a research note on Tuesday, August 8th. Finally, DA Davidson lowered Douglas Emmett from a buy rating to a neutral rating and lowered their price objective for the stock from $45.00 to $43.00 in a research note on Thursday, May 18th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $39.56.
Douglas Emmett (NYSE DEI) traded down 1.12% on Friday, reaching $38.72. 1,459,024 shares of the company’s stock traded hands. The company has a market cap of $6.31 billion, a PE ratio of 66.19 and a beta of 0.69. Douglas Emmett has a 12 month low of $33.78 and a 12 month high of $40.79. The firm’s 50 day moving average price is $38.31 and its 200 day moving average price is $38.43.
Douglas Emmett (NYSE:DEI) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.01). The business had revenue of $199.60 million during the quarter, compared to analysts’ expectations of $198.60 million. Douglas Emmett had a net margin of 12.00% and a return on equity of 2.95%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 earnings per share. On average, equities analysts expect that Douglas Emmett will post $0.55 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.92 annualized dividend and a yield of 2.38%. Douglas Emmett’s dividend payout ratio (DPR) is 155.93%.
In other news, Chairman Dan A. Emmett sold 100,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $37.96, for a total value of $3,796,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 17.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its position in shares of Douglas Emmett by 9.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 299 shares during the period. Tyers Asset Management LLC boosted its position in shares of Douglas Emmett by 23.5% in the 1st quarter. Tyers Asset Management LLC now owns 5,376 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 1,024 shares during the period. Virtu KCG Holdings LLC acquired a new stake in shares of Douglas Emmett in the 2nd quarter valued at about $206,000. Clinton Group Inc. acquired a new stake in Douglas Emmett during the 1st quarter worth approximately $222,000. Finally, Riverhead Capital Management LLC lifted its position in Douglas Emmett by 68.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,220 shares of the real estate investment trust’s stock worth $238,000 after acquiring an additional 2,520 shares during the period. 96.16% of the stock is owned by hedge funds and other institutional investors.
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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