IBM Retirement Fund cut its stake in Douglas Emmett Inc. (NYSE:DEI) by 4.3% during the second quarter, Holdings Channel reports. The fund owned 14,124 shares of the real estate investment trust’s stock after selling 633 shares during the period. IBM Retirement Fund’s holdings in Douglas Emmett were worth $502,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of DEI. Invictus RG purchased a new stake in shares of Douglas Emmett during the first quarter valued at approximately $151,000. BlackRock Japan Co. Ltd raised its stake in shares of Douglas Emmett by 1.3% in the first quarter. BlackRock Japan Co. Ltd now owns 7,430 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 93 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Douglas Emmett during the first quarter valued at approximately $226,000. Eqis Capital Management Inc. purchased a new stake in shares of Douglas Emmett during the second quarter valued at approximately $277,000. Finally, Capstone Asset Management Co. raised its stake in shares of Douglas Emmett by 1.1% in the second quarter. Capstone Asset Management Co. now owns 11,358 shares of the real estate investment trust’s stock valued at $403,000 after buying an additional 120 shares during the last quarter. 97.75% of the stock is owned by institutional investors.
Douglas Emmett Inc. (NYSE:DEI) traded up 0.08% during midday trading on Friday, hitting $37.78. The company had a trading volume of 389,904 shares. The firm has a market capitalization of $5.71 billion, a P/E ratio of 95.89 and a beta of 0.91. Douglas Emmett Inc. has a 1-year low of $24.73 and a 1-year high of $38.71. The company has a 50 day moving average price of $37.21 and a 200 day moving average price of $34.20.
Douglas Emmett (NYSE:DEI) last issued its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. The company earned $187.22 million during the quarter, compared to analyst estimates of $177.61 million. Douglas Emmett had a return on equity of 2.45% and a net margin of 8.88%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. Equities research analysts forecast that Douglas Emmett Inc. will post $1.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.88 dividend on an annualized basis and a yield of 2.33%. Douglas Emmett’s dividend payout ratio (DPR) is 225.65%.
DEI has been the subject of several recent research reports. DA Davidson boosted their price target on Douglas Emmett from $43.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Zacks Investment Research lowered Douglas Emmett from a “buy” rating to a “hold” rating in a report on Monday, August 8th. BMO Capital Markets lowered Douglas Emmett from an “outperform” rating to a “market perform” rating and cut their price target for the company from $35.00 to $34.00 in a report on Wednesday, June 1st. They noted that the move was a valuation call. BTIG Research initiated coverage on Douglas Emmett in a report on Thursday, August 25th. They set a “neutral” rating for the company. Finally, Mizuho lowered Douglas Emmett from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Thursday, August 4th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Douglas Emmett presently has a consensus rating of “Hold” and a consensus price target of $34.46.
In related news, Chairman Dan A. Emmett sold 140,000 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $35.75, for a total value of $5,005,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 23.00% of the stock is owned by corporate insiders.
About Douglas Emmett
Douglas Emmett, Inc is a self-administered and self-managed real estate investment trust. The Company is owner and operator of office and multifamily properties located in submarkets in California and Hawaii. The Company operates in two segments: the acquisition, development, ownership and management of office real estate, and the acquisition, development, ownership and management of multifamily real estate.
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