Vanguard Group Inc. boosted its stake in Douglas Emmett Inc. (NYSE:DEI) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,259,937 shares of the real estate investment trust’s stock after buying an additional 533,442 shares during the period. Vanguard Group Inc. owned approximately 14.38% of Douglas Emmett worth $755,152,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. Invictus RG purchased a new stake in shares of Douglas Emmett during the first quarter valued at about $151,000. Bank of Montreal Can purchased a new stake in shares of Douglas Emmett during the second quarter valued at about $190,000. 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 in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Douglas Emmett during the first quarter valued at about $226,000. Finally, Oakbrook Investments LLC purchased a new stake in shares of Douglas Emmett during the second quarter valued at about $250,000. 97.75% of the stock is owned by institutional investors and hedge funds.
Douglas Emmett Inc. (NYSE:DEI) traded up 0.83% during trading on Wednesday, reaching $37.44. The company’s stock had a trading volume of 63,015 shares. Douglas Emmett Inc. has a 12-month low of $24.73 and a 12-month high of $38.71. The company has a market capitalization of $5.65 billion, a P/E ratio of 95.03 and a beta of 0.91. The firm’s 50-day moving average price is $37.22 and its 200 day moving average price is $34.41.
Douglas Emmett (NYSE:DEI) last released its quarterly earnings data 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. Douglas Emmett had a return on equity of 2.45% and a net margin of 8.88%. The business had revenue of $187.22 million for the quarter, compared to the consensus estimate of $177.61 million. During the same quarter in the previous year, the company posted $0.40 EPS. The company’s revenue was up 16.7% compared to the same quarter last year. On average, analysts predict that Douglas Emmett Inc. will post $1.79 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Wednesday, September 28th. Douglas Emmett’s payout ratio is 225.65%.
A number of research firms have recently weighed in on DEI. Robert W. Baird began coverage on Douglas Emmett in a research note on Thursday, June 30th. They set an “outperform” rating and a $39.00 price objective for the company. DA Davidson increased their price objective on Douglas Emmett from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Citigroup Inc. increased their price objective on Douglas Emmett from $30.50 to $35.50 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Zacks Investment Research lowered Douglas Emmett from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Finally, Barclays PLC reissued an “underweight” rating and set a $31.00 price objective on shares of Douglas Emmett in a research note on Tuesday, June 28th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Douglas Emmett presently has a consensus rating of “Hold” and an average target price of $34.46.
In other news, Chairman Dan A. Emmett sold 140,000 shares of Douglas Emmett stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.00% of the stock is owned by 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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