Douglas Emmett, Inc. (DEI) Position Boosted by Swiss National Bank
Swiss National Bank lifted its holdings in Douglas Emmett, Inc. (NYSE:DEI) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 242,300 shares of the real estate investment trust’s stock after purchasing an additional 5,200 shares during the period. Swiss National Bank owned about 0.16% of Douglas Emmett worth $9,258,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in DEI. BlackRock Inc. increased its stake in shares of Douglas Emmett by 5,476.3% in the 1st quarter. BlackRock Inc. now owns 16,063,311 shares of the real estate investment trust’s stock valued at $616,831,000 after purchasing an additional 15,775,247 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Douglas Emmett by 12.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,582,021 shares of the real estate investment trust’s stock valued at $289,711,000 after purchasing an additional 863,062 shares in the last quarter. Vanguard Group Inc. increased its stake in Douglas Emmett by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 22,897,888 shares of the real estate investment trust’s stock worth $879,280,000 after buying an additional 718,419 shares in the last quarter. American Century Companies Inc. purchased a new stake in Douglas Emmett during the 2nd quarter worth approximately $25,319,000. Finally, Marshall Wace North America L.P. purchased a new stake in Douglas Emmett during the 2nd quarter worth approximately $17,506,000. Hedge funds and other institutional investors own 96.16% of the company’s stock.
Several research firms have commented on DEI. BidaskClub lowered Douglas Emmett from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Janney Montgomery Scott began coverage on Douglas Emmett in a research note on Friday, September 8th. They set a “neutral” rating for the company. 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 note on Tuesday, July 18th. Stifel Nicolaus upgraded Douglas Emmett from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $38.00 to $42.00 in a research note on Wednesday, August 2nd. They noted that the move was a valuation call. Finally, DA Davidson lowered Douglas Emmett from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $45.00 to $43.00 in a research note on Thursday, May 18th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $39.56.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $37.96, for a total value of $3,796,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 300,000 shares of company stock valued at $11,490,000. 17.80% of the stock is currently owned by corporate insiders.
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Douglas Emmett, Inc. (NYSE DEI) opened at 38.67 on Thursday. The stock’s 50 day moving average price is $38.23 and its 200 day moving average price is $38.44. The firm has a market capitalization of $6.30 billion, a PE ratio of 66.10 and a beta of 0.69. Douglas Emmett, Inc. has a one year low of $33.78 and a one year high of $40.79.
Douglas Emmett (NYSE:DEI) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.01). Douglas Emmett had a net margin of 12.00% and a return on equity of 2.95%. The company had revenue of $199.60 million during the quarter, compared to analysts’ expectations of $198.60 million. During the same period last year, the business posted $0.46 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Analysts expect that Douglas Emmett, Inc. will post $0.55 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.38%. Douglas Emmett’s dividend payout ratio (DPR) is presently 155.93%.
Douglas Emmett 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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