Douglas Emmett Inc. (DEI) Chairman Dan A. Emmett Sells 140,000 Shares of Stock
Douglas Emmett Inc. (NYSE:DEI) Chairman Dan A. Emmett sold 140,000 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $35.59, for a total value of $4,982,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Douglas Emmett Inc. (NYSE:DEI) traded up 0.08% during midday trading on Monday, hitting $35.68. The stock had a trading volume of 33,933 shares. The firm has a market capitalization of $5.41 billion, a P/E ratio of 68.48 and a beta of 0.86. Douglas Emmett Inc. has a 52-week low of $24.73 and a 52-week high of $38.71. The firm has a 50-day moving average of $35.72 and a 200 day moving average of $35.67.
Douglas Emmett (NYSE:DEI) last released its quarterly earnings results on Tuesday, November 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Douglas Emmett had a net margin of 11.27% and a return on equity of 3.04%. The business had revenue of $192.12 million for the quarter, compared to analyst estimates of $104.86 million. During the same period in the previous year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, equities analysts forecast that Douglas Emmett Inc. will post $1.80 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in DEI. TLP Group LLC purchased a new position in Douglas Emmett during the third quarter valued at about $102,000. Riverhead Capital Management LLC raised its position in Douglas Emmett by 9.5% in the third quarter. Riverhead Capital Management LLC now owns 3,000 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 261 shares in the last quarter. Bank of Montreal Can purchased a new position in Douglas Emmett during the second quarter valued at about $190,000. Tower Research Capital LLC TRC raised its position in Douglas Emmett by 15,373.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,725 shares of the real estate investment trust’s stock valued at $203,000 after buying an additional 5,688 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Douglas Emmett during the first quarter valued at about $226,000. 99.18% of the stock is currently owned by institutional investors and hedge funds.
DEI has been the topic of several analyst reports. Mizuho cut Douglas Emmett from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Thursday, August 4th. DA Davidson upped their price objective on Douglas Emmett from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research cut Douglas Emmett from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. BTIG Research initiated coverage on Douglas Emmett in a research report on Thursday, August 25th. They issued a “neutral” rating on the stock. Finally, Barclays PLC upped their price objective on Douglas Emmett from $33.00 to $35.00 and gave the company an “underweight” rating in a research report on Monday, August 29th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $35.71.
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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