TIAA CREF Investment Management LLC Has $14.77 Million Holdings in Douglas Emmett, Inc. (DEI)
TIAA CREF Investment Management LLC raised its stake in shares of Douglas Emmett, Inc. (NYSE:DEI) by 50.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 386,610 shares of the real estate investment trust’s stock after purchasing an additional 129,905 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.25% of Douglas Emmett worth $14,772,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in DEI. PNC Financial Services Group Inc. boosted its stake in Douglas Emmett by 9.1% during the 1st 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 during the last quarter. Clinton Group Inc. acquired a new position in Douglas Emmett during the 1st quarter valued at about $222,000. Riverhead Capital Management LLC boosted its stake in Douglas Emmett by 68.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,220 shares of the real estate investment trust’s stock valued at $238,000 after purchasing an additional 2,520 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Douglas Emmett during the 2nd quarter valued at about $260,000. Finally, Parametrica Management Ltd acquired a new position in Douglas Emmett during the 2nd quarter valued at about $272,000. Institutional investors and hedge funds own 96.08% of the company’s stock.
Douglas Emmett, Inc. (DEI) opened at 39.42 on Friday. Douglas Emmett, Inc. has a 52-week low of $33.78 and a 52-week high of $40.79. The company has a market cap of $6.42 billion, a PE ratio of 67.38 and a beta of 0.69. The firm’s 50 day moving average is $38.34 and its 200 day moving average is $38.38.
Douglas Emmett (NYSE:DEI) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 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 firm had revenue of $199.60 million for the quarter, compared to analysts’ expectations of $198.60 million. During the same quarter in the previous year, the company earned $0.46 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. Analysts forecast that Douglas Emmett, Inc. will post $0.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, September 28th. Douglas Emmett’s payout ratio is 155.93%.
A number of equities analysts have issued reports on the company. BidaskClub downgraded Douglas Emmett from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. KeyCorp reiterated a “hold” rating on shares of Douglas Emmett in a research note on Sunday, September 24th. Stifel Nicolaus upgraded Douglas Emmett from a “hold” rating to a “buy” rating and lifted their price target for the company from $38.00 to $42.00 in a research note on Tuesday, August 8th. Zacks Investment Research downgraded Douglas Emmett from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $39.00 price target on shares of Douglas Emmett in a research note on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.56.
In other news, Chairman Dan A. Emmett sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $37.96, for a total transaction of $3,796,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 300,000 shares of company stock worth $11,492,000. Corporate insiders own 17.80% of the company’s stock.
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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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