Douglas Emmett, Inc. (DEI) Holdings Reduced by Royal Bank of Canada
Royal Bank of Canada cut its holdings in shares of Douglas Emmett, Inc. (NYSE:DEI) by 53.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,556 shares of the real estate investment trust’s stock after selling 13,499 shares during the quarter. Royal Bank of Canada’s holdings in Douglas Emmett were worth $442,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of DEI. Teachers Advisors LLC grew its position in shares of Douglas Emmett by 3.3% during the first quarter. Teachers Advisors LLC now owns 200,090 shares of the real estate investment trust’s stock valued at $7,683,000 after purchasing an additional 6,471 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Douglas Emmett by 9.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 299 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Douglas Emmett by 82.7% during the first quarter. Renaissance Technologies LLC now owns 237,300 shares of the real estate investment trust’s stock valued at $9,112,000 after purchasing an additional 107,400 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Douglas Emmett during the second quarter valued at about $260,000. Finally, Capstone Asset Management Co. grew its position in shares of Douglas Emmett by 8.3% during the second quarter. Capstone Asset Management Co. now owns 12,178 shares of the real estate investment trust’s stock valued at $465,000 after purchasing an additional 930 shares in the last quarter. 95.88% of the stock is currently owned by institutional investors and hedge funds.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of the firm’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $38.99, for a total value of $3,899,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.80% of the stock is owned by company insiders.
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DEI has been the subject of a number of research analyst reports. Barclays PLC cut their price objective on Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating for the company in a research report on Tuesday, July 18th. Zacks Investment Research upgraded Douglas Emmett from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Tuesday, July 18th. Stifel Nicolaus upgraded Douglas Emmett from a “hold” rating to a “buy” rating and raised their price objective for the company from $38.00 to $42.00 in a research report on Wednesday, August 2nd. They noted that the move was a valuation call. BidaskClub lowered Douglas Emmett from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Finally, Janney Montgomery Scott initiated coverage on Douglas Emmett in a research report on Friday, September 8th. They set a “neutral” rating for the company. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.60.
Douglas Emmett, Inc. (DEI) opened at $40.65 on Wednesday. The company has a market capitalization of $6,867.47, a PE ratio of 21.43, a P/E/G ratio of 3.25 and a beta of 0.72. Douglas Emmett, Inc. has a 12-month low of $34.34 and a 12-month high of $41.12.
Douglas Emmett (NYSE:DEI) last released its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.48 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. The company had revenue of $208.75 million during the quarter, compared to analyst estimates of $203.99 million. Douglas Emmett had a return on equity of 2.58% and a net margin of 11.29%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.47 earnings per share. analysts expect that Douglas Emmett, Inc. will post 1.9 earnings per share for the current fiscal year.
Douglas Emmett Company Profile
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).
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