Oppenheimer & Co. Inc. continued to hold its position in shares of Douglas Emmett, Inc. (NYSE:DEI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,300 shares of the real estate investment trust’s stock at the end of the second quarter. Oppenheimer & Co. Inc.’s holdings in Douglas Emmett were worth $394,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of Douglas Emmett by 9.1% in 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 acquiring an additional 299 shares during the period. Clinton Group Inc. acquired a new position in shares of Douglas Emmett in the 1st quarter valued at $222,000. Fox Run Management L.L.C. acquired a new position in shares of Douglas Emmett in the 2nd quarter valued at $260,000. Parametrica Management Ltd acquired a new position in shares of Douglas Emmett in the 2nd quarter valued at $272,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Douglas Emmett by 0.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,554 shares of the real estate investment trust’s stock valued at $290,000 after acquiring an additional 64 shares during the period. 96.16% of the stock is currently owned by hedge funds and other institutional investors.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of Douglas Emmett stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $37.96, for a total value of $3,796,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 17.80% of the company’s stock.
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Several equities analysts recently issued reports on the company. BidaskClub downgraded Douglas Emmett from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded Douglas Emmett from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Stifel Nicolaus raised Douglas Emmett from a “hold” rating to a “buy” rating and upped their target price for the company from $38.00 to $42.00 in a research report on Tuesday, August 8th. Janney Montgomery Scott assumed coverage on Douglas Emmett in a research report on Friday, September 8th. They issued a “neutral” rating on the stock. Finally, BMO Capital Markets reissued a “hold” rating and issued a $39.00 target price on shares of Douglas Emmett in a research report on Tuesday, July 4th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Douglas Emmett has an average rating of “Hold” and an average price target of $39.56.
Shares of Douglas Emmett, Inc. (DEI) opened at 38.72 on Friday. The firm’s 50-day moving average price is $38.31 and its 200 day moving average price is $38.43. Douglas Emmett, Inc. has a 12 month low of $33.78 and a 12 month high of $40.79. The firm has a market capitalization of $6.31 billion, a P/E ratio of 66.19 and a beta of 0.69.
Douglas Emmett (NYSE:DEI) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Douglas Emmett had a net margin of 12.00% and a return on equity of 2.95%. The company had revenue of $199.60 million during the quarter, compared to analysts’ expectations of $198.60 million. During the same period last year, the firm earned $0.46 earnings per share. Douglas Emmett’s revenue was up 6.6% on a year-over-year basis. Analysts anticipate that Douglas Emmett, Inc. will post $0.55 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a $0.23 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.92 dividend on an annualized basis and a yield of 2.38%. Douglas Emmett’s dividend payout ratio is presently 155.93%.
Douglas Emmett 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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