Douglas Emmett, Inc. (DEI) Given Average Rating of “Hold” by Brokerages
Douglas Emmett, Inc. (NYSE:DEI) has been assigned a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $41.14.
DEI has been the topic of a number of analyst reports. TheStreet raised shares of Douglas Emmett from a “c+” rating to a “b-” rating in a research note on Wednesday, November 15th. Stifel Nicolaus reissued a “buy” rating and issued a $42.00 target price on shares of Douglas Emmett in a research note on Thursday, September 21st. KeyCorp reissued a “hold” rating on shares of Douglas Emmett in a research note on Sunday, September 24th. Mizuho reaffirmed a “hold” rating and set a $41.00 price objective on shares of Douglas Emmett in a research note on Friday, October 27th. Finally, Janney Montgomery Scott started coverage on shares of Douglas Emmett in a research note on Friday, September 8th. They set a “neutral” rating on the stock.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $38.99, for a total transaction of $3,899,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.80% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in DEI. FMR LLC lifted its position in shares of Douglas Emmett by 9.8% during the second quarter. FMR LLC now owns 11,749,721 shares of the real estate investment trust’s stock worth $448,956,000 after purchasing an additional 1,049,842 shares in the last quarter. Cohen & Steers Inc. lifted its position in shares of Douglas Emmett by 7.0% during the third quarter. Cohen & Steers Inc. now owns 15,328,882 shares of the real estate investment trust’s stock worth $604,265,000 after purchasing an additional 1,000,650 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Douglas Emmett by 12.8% during the second quarter. Bank of New York Mellon Corp now owns 7,582,021 shares of the real estate investment trust’s stock worth $289,711,000 after purchasing an additional 863,062 shares in the last quarter. Balyasny Asset Management LLC lifted its position in shares of Douglas Emmett by 476.6% during the second quarter. Balyasny Asset Management LLC now owns 835,184 shares of the real estate investment trust’s stock worth $31,912,000 after purchasing an additional 690,349 shares in the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of Douglas Emmett during the second quarter worth approximately $25,319,000. Institutional investors own 96.51% of the company’s stock.
Shares of Douglas Emmett (NYSE DEI) opened at $41.01 on Friday. The firm has a market cap of $6,925.11, a PE ratio of 21.61, a P/E/G ratio of 3.36 and a beta of 0.71. Douglas Emmett has a 52 week low of $35.27 and a 52 week high of $41.28.
Douglas Emmett (NYSE:DEI) last posted its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.48 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.48. The business had revenue of $208.75 million for the quarter, compared to analysts’ expectations of $203.99 million. Douglas Emmett had a net margin of 11.29% and a return on equity of 2.58%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 earnings per share. equities analysts anticipate that Douglas Emmett will post 1.9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.44%. This is a boost from Douglas Emmett’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, December 28th. Douglas Emmett’s dividend payout ratio is currently 173.59%.
About Douglas Emmett
Douglas Emmett, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is owner and operator of office and multifamily properties located in submarkets in Los Angeles and Honolulu. The Company operates through two segments: the acquisition, development, ownership and management of office real estate (Office Segment), and the acquisition, development, ownership and management of multifamily real estate (Multifamily Segment).
Receive News & Ratings for Douglas Emmett Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Douglas Emmett and related companies with Analyst Ratings Network's FREE daily email newsletter.