Dan A Emmett Maintains 4.7% Stake in Douglas Emmett Inc. (DEI)
Dan A Emmett recently revealed that they own 4.7% of Douglas Emmett Inc. (NYSE:DEI) in a Schedule 13G disclosure that was filed with the Securities and Exchange Commission (SEC) on Monday, September 19th. The investor owns 7,348,808 shares of the stock valued at $266,247,314. The filing is available through EDGAR at this hyperlink.
Other hedge funds have also made changes to their positions in the company. FMR LLC boosted its stake in shares of Douglas Emmett by 114.4% in the second quarter. FMR LLC now owns 11,409,301 shares of the real estate investment trust’s stock valued at $405,259,000 after buying an additional 6,087,389 shares during the last quarter. Cohen & Steers Inc. boosted its stake in shares of Douglas Emmett by 21.6% in the second quarter. Cohen & Steers Inc. now owns 16,114,639 shares of the real estate investment trust’s stock valued at $572,392,000 after buying an additional 2,857,418 shares during the last quarter. Daiwa Securities Group Inc. boosted 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 valued at $247,971,000 after buying an additional 1,786,561 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Douglas Emmett by 252.3% in the second quarter. Neuberger Berman Group LLC now owns 1,436,732 shares of the real estate investment trust’s stock valued at $51,033,000 after buying an additional 1,028,969 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Douglas Emmett by 83.9% in the first quarter. Wellington Management Group LLP now owns 1,994,797 shares of the real estate investment trust’s stock valued at $60,063,000 after buying an additional 910,048 shares during the last quarter. Institutional investors and hedge funds own 97.89% of the company’s stock.
Douglas Emmett Inc. (NYSE:DEI) remained flat at $36.23 during midday trading on Monday. The company’s stock had a trading volume of 748,926 shares. The firm has a 50 day moving average of $37.42 and a 200-day moving average of $33.60. Douglas Emmett Inc. has a one year low of $24.73 and a one year high of $38.40. The company has a market capitalization of $5.47 billion, a PE ratio of 91.95 and a beta of 0.91.
Douglas Emmett (NYSE:DEI) last announced its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $187.22 million for the quarter, compared to analyst estimates of $177.61 million. Douglas Emmett had a net margin of 8.88% and a return on equity of 2.45%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. Analysts anticipate that Douglas Emmett Inc. will post $1.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Wednesday, September 28th. Douglas Emmett’s dividend payout ratio is presently 225.65%.
DEI has been the subject of several research reports. Barclays PLC lifted their price objective on shares of Douglas Emmett from $33.00 to $35.00 and gave the company an “underweight” rating in a research note on Monday, August 29th. BTIG Research began coverage on shares of Douglas Emmett in a research note on Thursday, August 25th. They issued a “neutral” rating for the company. Zacks Investment Research cut shares of Douglas Emmett from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. Citigroup Inc. boosted their target price on shares of Douglas Emmett from $30.50 to $35.50 and gave the company a “neutral” rating in a research note on Thursday, July 7th. Finally, BMO Capital Markets cut shares of Douglas Emmett from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $35.00 to $34.00 in a research note on Wednesday, June 1st. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued 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 stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $36.99, for a total transaction of $5,178,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 23.00% of the company’s stock.
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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