Douglas Emmett, Inc. (DEI) Shares Sold by California Public Employees Retirement System
California Public Employees Retirement System lowered its holdings in shares of Douglas Emmett, Inc. (NYSE:DEI) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 302,730 shares of the real estate investment trust’s stock after selling 400 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Douglas Emmett worth $11,567,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. 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 worth $139,000 after purchasing an additional 299 shares in the last quarter. Clinton Group Inc. purchased a new stake in shares of Douglas Emmett during the first quarter worth about $222,000. Riverhead Capital Management LLC grew its position in shares of Douglas Emmett by 68.1% during the second quarter. Riverhead Capital Management LLC now owns 6,220 shares of the real estate investment trust’s stock worth $238,000 after purchasing an additional 2,520 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Douglas Emmett during the second quarter worth about $260,000. Finally, Parametrica Management Ltd purchased a new stake in shares of Douglas Emmett during the second quarter worth about $272,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.
DEI has been the subject of several research analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $42.00 target price on shares of Douglas Emmett in a research report on Thursday, September 21st. Zacks Investment Research upgraded Douglas Emmett from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Tuesday, July 18th. KeyCorp reiterated a “hold” rating on shares of Douglas Emmett in a research report on Sunday, September 24th. BidaskClub upgraded Douglas Emmett from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $39.00 target price on shares of Douglas Emmett in a research report on Tuesday, July 4th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Douglas Emmett currently has a consensus rating of “Hold” and a consensus target price of $39.56.
Douglas Emmett, Inc. (DEI) opened at 40.31 on Friday. The stock has a market cap of $6.57 billion, a PE ratio of 68.91 and a beta of 0.70. The firm’s 50-day moving average price is $38.80 and its 200 day moving average price is $38.45. Douglas Emmett, Inc. has a 12-month low of $33.78 and a 12-month high of $40.79.
Douglas Emmett (NYSE:DEI) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.01). Douglas Emmett had a return on equity of 2.95% and a net margin of 12.00%. The firm had revenue of $199.60 million for the quarter, compared to analysts’ expectations of $198.60 million. During the same quarter last year, the firm posted $0.46 earnings per share. Douglas Emmett’s quarterly revenue was up 6.6% on a year-over-year basis. Analysts anticipate that Douglas Emmett, Inc. will post $0.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.92 annualized dividend and a yield of 2.28%. Douglas Emmett’s dividend payout ratio (DPR) is currently 155.93%.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $37.96, for a total transaction of $3,796,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 300,000 shares of company stock valued at $11,492,000. 17.80% of the stock is owned by company insiders.
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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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