Brokerages Set Douglas Emmett Inc. (NYSE:DEI) PT at $35.15
Shares of Douglas Emmett Inc. (NYSE:DEI) have been assigned a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $35.15.
A number of equities research analysts have weighed in on DEI shares. BTIG Research started coverage on Douglas Emmett in a report on Thursday, August 25th. They issued a “neutral” rating on the stock. Citigroup Inc. lifted their price target on shares of Douglas Emmett from $30.50 to $35.50 and gave the company a “neutral” rating in a research report on Thursday, July 7th. Barclays PLC lifted their price target on shares of Douglas Emmett from $33.00 to $35.00 and gave the company an “underweight” rating in a research report on Monday, August 29th. Zacks Investment Research downgraded shares of Douglas Emmett from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. Finally, BMO Capital Markets downgraded shares of Douglas Emmett from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $35.00 to $34.00 in a research report on Wednesday, June 1st. They noted that the move was a valuation call.
Douglas Emmett (NYSE:DEI) opened at 37.42 on Monday. The firm’s 50-day moving average price is $37.21 and its 200 day moving average price is $34.44. Douglas Emmett has a 52 week low of $24.73 and a 52 week high of $38.71. The company has a market capitalization of $5.65 billion, a PE ratio of 94.97 and a beta of 0.91.
Douglas Emmett (NYSE:DEI) last announced its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.01. Douglas Emmett had a return on equity of 2.45% and a net margin of 8.88%. The company had revenue of $187.22 million for the quarter, compared to analyst estimates of $177.61 million. During the same quarter in the previous year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. Equities research analysts expect that Douglas Emmett will post $1.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.35%. Douglas Emmett’s dividend payout ratio is currently 225.65%.
In related news, Chairman Dan A. Emmett sold 140,000 shares of Douglas Emmett stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $36.99, for a total transaction of $5,178,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 23.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of DEI. Geode Capital Management LLC increased its position in shares of Douglas Emmett by 4.0% in the first quarter. Geode Capital Management LLC now owns 1,098,714 shares of the real estate investment trust’s stock valued at $33,082,000 after buying an additional 42,465 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Douglas Emmett by 34.4% in the second quarter. Daiwa Securities Group Inc. now owns 6,981,183 shares of the real estate investment trust’s stock valued at $247,971,000 after buying an additional 1,786,561 shares during the period. Eqis Capital Management Inc. acquired a new position in shares of Douglas Emmett during the second quarter valued at $277,000. BlackRock Group LTD increased its position in shares of Douglas Emmett by 2.2% in the first quarter. BlackRock Group LTD now owns 953,105 shares of the real estate investment trust’s stock valued at $28,698,000 after buying an additional 20,717 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Douglas Emmett by 3.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 134,453 shares of the real estate investment trust’s stock valued at $4,048,000 after buying an additional 4,048 shares during the period. Institutional investors own 97.75% of the company’s stock.
About Douglas Emmett
Douglas Emmett, Inc is a self-administered and self-managed real estate investment trust. The Company is owner and operator of office and multifamily properties located in submarkets in California and Hawaii. The Company operates in two segments: the acquisition, development, ownership and management of office real estate, and the acquisition, development, ownership and management of multifamily real estate.
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