Douglas Emmett, Inc. (NYSE:DEI) has received a consensus recommendation of “Hold” from the twelve research firms that are currently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $40.63.
Separately, Zacks Investment Research lowered Douglas Emmett from a “buy” rating to a “hold” rating in a report on Thursday, May 9th.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 40,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $40.78, for a total transaction of $1,631,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc boosted its position in Douglas Emmett by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 23,659,581 shares of the real estate investment trust’s stock worth $892,439,000 after acquiring an additional 368,007 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Douglas Emmett by 3,313.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,157,494 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 2,094,280 shares during the last quarter. Comerica Bank boosted its position in Douglas Emmett by 2.5% during the 4th quarter. Comerica Bank now owns 105,500 shares of the real estate investment trust’s stock worth $3,940,000 after acquiring an additional 2,609 shares during the last quarter. Jennison Associates LLC acquired a new position in Douglas Emmett during the 4th quarter worth approximately $8,735,000. Finally, Westpac Banking Corp boosted its position in Douglas Emmett by 9.1% during the 4th quarter. Westpac Banking Corp now owns 244,716 shares of the real estate investment trust’s stock worth $8,352,000 after acquiring an additional 20,400 shares during the last quarter. 92.18% of the stock is owned by institutional investors and hedge funds.
Shares of DEI stock traded down $0.57 during trading on Tuesday, hitting $40.07. The company’s stock had a trading volume of 462,509 shares, compared to its average volume of 856,997. The company has a market cap of $6.96 billion, a P/E ratio of 19.84, a PEG ratio of 3.16 and a beta of 0.74. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.09. The business’s fifty day moving average is $41.01. Douglas Emmett has a 52 week low of $32.32 and a 52 week high of $42.41.
Douglas Emmett (NYSE:DEI) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $224.19 million during the quarter, compared to analyst estimates of $227.52 million. Douglas Emmett had a return on equity of 3.01% and a net margin of 13.45%. Douglas Emmett’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. On average, sell-side analysts expect that Douglas Emmett will post 2.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, June 27th. Douglas Emmett’s dividend payout ratio is presently 51.49%.
Douglas Emmett Company Profile
Douglas Emmett, Inc (DEI) is a fully integrated, self-administered and self-managed real estate investment trust (REIT), and one of the largest owners and operators of high-quality office and multifamily properties located in the premier coastal submarkets of Los Angeles and Honolulu. Douglas Emmett focuses on owning and acquiring a substantial share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive housing and key lifestyle amenities.
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