Douglas Emmett, Inc. (NYSE:DEI) Shares Bought by Retirement Systems of Alabama
Retirement Systems of Alabama increased its position in Douglas Emmett, Inc. (NYSE:DEI) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 189,320 shares of the real estate investment trust’s stock after buying an additional 1,556 shares during the period. Retirement Systems of Alabama’s holdings in Douglas Emmett were worth $7,234,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in Douglas Emmett by 9.1% in 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 buying an additional 299 shares during the period. Tyers Asset Management LLC raised its stake in Douglas Emmett by 23.5% in the first quarter. Tyers Asset Management LLC now owns 5,376 shares of the real estate investment trust’s stock worth $206,000 after buying an additional 1,024 shares during the period. Clinton Group Inc. bought a new stake in Douglas Emmett during the first quarter worth about $222,000. Fox Run Management L.L.C. bought a new stake in Douglas Emmett during the second quarter worth about $260,000. Finally, Parametrica Management Ltd acquired a new position in shares of Douglas Emmett during the second quarter valued at $272,000. 93.86% of the stock is owned by institutional investors and hedge funds.
Douglas Emmett, Inc. (DEI) opened at 38.28 on Tuesday. The company’s 50-day moving average is $38.00 and its 200 day moving average is $38.49. Douglas Emmett, Inc. has a 12 month low of $33.78 and a 12 month high of $40.79. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 65.44 and a beta of 0.69.
Douglas Emmett (NYSE:DEI) last released its earnings results 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. The firm had revenue of $199.60 million during the quarter, compared to the consensus estimate of $198.60 million. Douglas Emmett had a net margin of 12.00% and a return on equity of 2.95%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 EPS. Equities analysts forecast that Douglas Emmett, Inc. will post $0.55 earnings per share for the current fiscal year.
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Several brokerages recently weighed in on DEI. BidaskClub lowered shares of Douglas Emmett from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Stifel Nicolaus raised shares of 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 Tuesday, August 8th. Zacks Investment Research lowered shares of Douglas Emmett from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. BMO Capital Markets reaffirmed a “hold” rating and set a $39.00 price objective on shares of Douglas Emmett in a research report on Tuesday, July 4th. Finally, Barclays PLC cut their price objective on shares of Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 18th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $39.56.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $37.97, for a total value of $3,797,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 300,000 shares of company stock worth $11,487,000 in the last 90 days. Company insiders own 17.80% of the company’s stock.
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).
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