Sei Investments Co. boosted its position in shares of Douglas Emmett, Inc. (NYSE:DEI) by 8.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 729,189 shares of the real estate investment trust’s stock after purchasing an additional 57,686 shares during the period. Sei Investments Co. owned about 0.45% of Douglas Emmett worth $28,744,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in Douglas Emmett by 5.3% during the 3rd quarter. Principal Financial Group Inc. now owns 661,914 shares of the real estate investment trust’s stock worth $26,093,000 after purchasing an additional 33,600 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Douglas Emmett by 8.7% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 57,043 shares of the real estate investment trust’s stock worth $2,249,000 after purchasing an additional 4,573 shares in the last quarter. Boston Partners increased its holdings in Douglas Emmett by 0.3% during the 3rd quarter. Boston Partners now owns 4,082,102 shares of the real estate investment trust’s stock worth $160,916,000 after purchasing an additional 13,303 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Douglas Emmett by 4.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 6,425,963 shares of the real estate investment trust’s stock worth $253,311,000 after purchasing an additional 247,203 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Douglas Emmett by 10.8% during the 3rd quarter. American Century Companies Inc. now owns 734,221 shares of the real estate investment trust’s stock worth $28,943,000 after purchasing an additional 71,596 shares in the last quarter. Hedge funds and other institutional investors own 96.26% of the company’s stock.
A number of equities analysts have issued reports on DEI shares. Janney Montgomery Scott started coverage on Douglas Emmett in a report on Friday, September 8th. They set a “neutral” rating for the company. Barclays PLC lowered their target price on Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Tuesday, July 18th. Stifel Nicolaus restated a “buy” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Douglas Emmett in a report on Thursday. Zacks Investment Research upgraded Douglas Emmett from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Tuesday, July 18th. Finally, BidaskClub upgraded Douglas Emmett from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $40.60.
In related news, Chairman Dan A. Emmett sold 100,000 shares of Douglas Emmett stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $38.99, for a total transaction of $3,899,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.80% of the company’s stock.
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Shares of Douglas Emmett, Inc. (NYSE DEI) traded up $0.05 during midday trading on Friday, hitting $40.13. The stock had a trading volume of 571,900 shares, compared to its average volume of 531,256. The company has a market cap of $6,803.04, a PE ratio of 21.23, a price-to-earnings-growth ratio of 3.22 and a beta of 0.72. Douglas Emmett, Inc. has a 12 month low of $33.78 and a 12 month high of $41.12.
Douglas Emmett (NYSE:DEI) last posted its quarterly 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 business had revenue of $208.75 million during the quarter, compared to analysts’ expectations of $203.99 million. During the same quarter last year, the company posted $0.47 earnings per share. Douglas Emmett’s quarterly revenue was up 8.7% on a year-over-year basis. research analysts anticipate that Douglas Emmett, Inc. will post 1.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Thursday, September 28th. Douglas Emmett’s payout ratio is currently 173.59%.
Douglas Emmett Company Profile
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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