New Mexico Educational Retirement Board raised its stake in shares of Douglas Emmett, Inc. (NYSE:DEI) by 69.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,900 shares of the real estate investment trust’s stock after acquiring an additional 15,547 shares during the period. New Mexico Educational Retirement Board’s holdings in Douglas Emmett were worth $1,556,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Virtu KCG Holdings LLC acquired a new stake in shares of Douglas Emmett during the second quarter valued at about $206,000. Resolution Capital Ltd increased its position in shares of Douglas Emmett by 1.3% during the third quarter. Resolution Capital Ltd now owns 2,018,267 shares of the real estate investment trust’s stock valued at $79,560,000 after acquiring an additional 26,682 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Douglas Emmett by 4.0% during the third quarter. Daiwa Securities Group Inc. now owns 6,425,963 shares of the real estate investment trust’s stock valued at $253,311,000 after acquiring an additional 247,203 shares during the last quarter. Swiss National Bank increased its position in shares of Douglas Emmett by 7.3% during the fourth quarter. Swiss National Bank now owns 263,600 shares of the real estate investment trust’s stock valued at $10,823,000 after acquiring an additional 18,000 shares during the last quarter. Finally, BB&T Securities LLC acquired a new stake in shares of Douglas Emmett during the third quarter valued at about $327,000. Institutional investors and hedge funds own 98.29% of the company’s stock.
Douglas Emmett, Inc. (DEI) traded up $0.08 during midday trading on Wednesday, hitting $37.39. 636,276 shares of the stock traded hands, compared to its average volume of 935,725. Douglas Emmett, Inc. has a twelve month low of $34.72 and a twelve month high of $41.59. The stock has a market capitalization of $6,340.00, a price-to-earnings ratio of 65.60, a price-to-earnings-growth ratio of 2.83 and a beta of 0.70.
Douglas Emmett (NYSE:DEI) last posted its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). Douglas Emmett had a net margin of 12.36% and a return on equity of 2.69%. The business had revenue of $209.19 million during the quarter, compared to analysts’ expectations of $202.00 million. sell-side analysts expect that Douglas Emmett, Inc. will post 1.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 17th. Investors of record on Thursday, March 29th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.00 dividend on an annualized basis and a yield of 2.67%. Douglas Emmett’s dividend payout ratio is currently 175.44%.
DEI has been the subject of a number of recent analyst reports. TheStreet upgraded shares of Douglas Emmett from a “c+” rating to a “b-” rating in a research report on Wednesday, November 15th. Robert W. Baird reiterated a “buy” rating and set a $45.00 price target on shares of Douglas Emmett in a research report on Tuesday, January 9th. Stifel Nicolaus dropped their price target on shares of Douglas Emmett from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. BMO Capital Markets set a $38.00 price objective on shares of Douglas Emmett and gave the company a “hold” rating in a research note on Tuesday, February 27th. Finally, Zacks Investment Research raised shares of Douglas Emmett from a “sell” rating to a “hold” rating in a research note on Monday, January 8th. Three research 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’s stock. The company has an average rating of “Hold” and a consensus target price of $41.00.
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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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