Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its position in shares of Douglas Emmett, Inc. (NYSE:DEI) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,245 shares of the real estate investment trust’s stock after selling 67 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Douglas Emmett were worth $816,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Riverhead Capital Management LLC increased its stake in shares of 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 worth $110,000 after buying an additional 261 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in Douglas Emmett during the fourth quarter valued at approximately $149,000. Tyers Asset Management LLC acquired a new position in Douglas Emmett during the fourth quarter valued at approximately $159,000. Pacad Investment Ltd. acquired a new position in Douglas Emmett during the fourth quarter valued at approximately $201,000. Finally, A.R.T. Advisors LLC acquired a new position in Douglas Emmett during the fourth quarter valued at approximately $204,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.
Douglas Emmett, Inc. (DEI) opened at 39.03 on Friday. The stock has a 50 day moving average of $38.37 and a 200 day moving average of $38.19. The company has a market cap of $6.03 billion, a PE ratio of 67.88 and a beta of 0.73. Douglas Emmett, Inc. has a one year low of $33.20 and a one year high of $40.79.
Douglas Emmett (NYSE:DEI) last posted its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Douglas Emmett had a return on equity of 3.06% and a net margin of 11.97%. The business had revenue of $170.35 million for the quarter, compared to the consensus estimate of $191.93 million. On average, analysts anticipate that Douglas Emmett, Inc. will post $0.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Wednesday, June 28th. Douglas Emmett’s payout ratio is 158.62%.
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Several research firms have commented on DEI. Barclays PLC lifted their price target on shares of Douglas Emmett from $35.00 to $36.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 19th. Evercore ISI downgraded shares of Douglas Emmett from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. Zacks Investment Research downgraded shares of Douglas Emmett from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. BidaskClub raised shares of Douglas Emmett from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, J P Morgan Chase & Co lifted their price target on shares of Douglas Emmett from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, April 3rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Douglas Emmett currently has a consensus rating of “Hold” and an average target price of $39.15.
In other news, Chairman Dan A. Emmett sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $37.93, for a total value of $3,793,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 23.00% of the company’s stock.
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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