Douglas Emmett, Inc. (DEI) Posts Earnings Results, Misses Estimates By $0.01 EPS
Douglas Emmett, Inc. (NYSE:DEI) posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.01, Bloomberg Earnings reports. 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 during the quarter, compared to the consensus estimate of $198.60 million. During the same quarter in the previous year, the company earned $0.46 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. Douglas Emmett updated its FY17 guidance to $1.89-1.93 EPS.
Shares of Douglas Emmett (DEI) traded down 0.84% during trading on Friday, reaching $37.55. 2,323,587 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $37.94 and a 200 day moving average price of $38.49. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 64.19 and a beta of 0.69. Douglas Emmett has a 12 month low of $33.78 and a 12 month high of $40.79.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $37.97, for a total transaction of $3,797,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.80% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Douglas Emmett by 5,476.3% in the first quarter. BlackRock Inc. now owns 16,063,311 shares of the real estate investment trust’s stock worth $616,831,000 after buying an additional 15,775,247 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Douglas Emmett by 32.9% in the first quarter. Bank of New York Mellon Corp now owns 6,718,959 shares of the real estate investment trust’s stock worth $258,007,000 after buying an additional 1,664,776 shares in the last quarter. FMR LLC increased its stake in Douglas Emmett by 9.8% in the second quarter. FMR LLC now owns 11,749,721 shares of the real estate investment trust’s stock worth $448,956,000 after buying an additional 1,049,842 shares in the last quarter. Vanguard Group Inc. increased its stake in Douglas Emmett by 3.2% in the first quarter. Vanguard Group Inc. now owns 22,897,888 shares of the real estate investment trust’s stock worth $879,280,000 after buying an additional 718,419 shares in the last quarter. Finally, Balyasny Asset Management LLC increased its stake in Douglas Emmett by 476.6% in the second quarter. Balyasny Asset Management LLC now owns 835,184 shares of the real estate investment trust’s stock worth $31,912,000 after buying an additional 690,349 shares in the last quarter. Institutional investors and hedge funds own 93.86% of the company’s stock.
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Several analysts have recently issued reports on the stock. BidaskClub upgraded shares of Douglas Emmett from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. BMO Capital Markets reiterated a “hold” rating and issued a $39.00 target price on shares of Douglas Emmett in a research note on Tuesday, July 4th. Zacks Investment Research lowered shares of Douglas Emmett from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Stifel Nicolaus upgraded shares of Douglas Emmett from a “hold” rating to a “buy” rating and increased their price target for the company from $38.00 to $42.00 in a research report on Tuesday, August 8th. Finally, DA Davidson lowered shares of Douglas Emmett from a “buy” rating to a “neutral” rating and reduced their price target for the company from $45.00 to $43.00 in a research report on Thursday, May 18th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $39.56.
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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