Tower Research Capital LLC TRC raised its position in shares of Douglas Emmett Inc. (NYSE:DEI) by 15,373.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,725 shares of the real estate investment trust’s stock after buying an additional 5,688 shares during the period. Tower Research Capital LLC TRC’s holdings in Douglas Emmett were worth $203,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Douglas Emmett by 2.6% in the second quarter. Vanguard Group Inc. now owns 21,259,937 shares of the real estate investment trust’s stock worth $755,152,000 after buying an additional 533,442 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Douglas Emmett by 34.4% in the second quarter. Daiwa Securities Group Inc. now owns 6,981,183 shares of the real estate investment trust’s stock worth $247,971,000 after buying an additional 1,786,561 shares in the last quarter. State Street Corp increased its stake in shares of Douglas Emmett by 2.9% in the first quarter. State Street Corp now owns 5,992,229 shares of the real estate investment trust’s stock worth $180,426,000 after buying an additional 168,841 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Douglas Emmett by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,839,057 shares of the real estate investment trust’s stock worth $175,814,000 after buying an additional 28,636 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Douglas Emmett by 29.3% in the second quarter. Bank of New York Mellon Corp now owns 3,333,039 shares of the real estate investment trust’s stock worth $118,389,000 after buying an additional 754,795 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.
Douglas Emmett Inc. (NYSE:DEI) opened at 37.42 on Thursday. The company has a 50-day moving average price of $37.21 and a 200 day moving average price of $34.44. The stock has a market cap of $5.65 billion, a P/E ratio of 94.97 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.
Douglas Emmett (NYSE:DEI) last announced its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $187.22 million for the quarter, compared to the consensus estimate of $177.61 million. Douglas Emmett had a net margin of 8.88% and a return on equity of 2.45%. Douglas Emmett’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. Equities analysts expect that Douglas Emmett Inc. will post $1.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.88 dividend on an annualized basis and a yield of 2.35%. Douglas Emmett’s dividend payout ratio is currently 225.65%.
A number of equities research analysts have weighed in on DEI shares. BTIG Research started coverage on Douglas Emmett in a report on Thursday, August 25th. They issued a “neutral” rating on the stock. Barclays PLC reaffirmed an “underweight” rating and issued a $33.00 target price (up previously from $31.00) on shares of Douglas Emmett in a report on Tuesday, July 19th. BMO Capital Markets downgraded Douglas Emmett from an “outperform” rating to a “market perform” rating and reduced their target price 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. Mizuho downgraded Douglas Emmett from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Thursday, August 4th. Finally, Zacks Investment Research downgraded Douglas Emmett from a “buy” rating to a “hold” rating in a report on Monday, August 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Douglas Emmett presently has a consensus rating of “Hold” and an average target price of $34.46.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 140,000 shares of Douglas Emmett stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $36.99, for a total value of $5,178,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 23.00% of the stock is currently owned by company insiders.
Douglas Emmett Company Profile
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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