Douglas Emmett, Inc. (DEI) Sets New 1-Year High at $40.85

Douglas Emmett, Inc. (NYSE:DEI) hit a new 52-week high on Friday . The stock traded as high as $40.85 and last traded at $0.00, with a volume of shares.

Several equities research analysts recently weighed in on the company. BidaskClub lowered Douglas Emmett from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Zacks Investment Research lowered Douglas Emmett from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Stifel Nicolaus raised Douglas Emmett from a “hold” rating to a “buy” rating and lifted their target price for the company from $38.00 to $42.00 in a report on Tuesday, August 8th. KeyCorp reaffirmed a “hold” rating on shares of Douglas Emmett in a report on Sunday, September 24th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $39.00 target price on shares of Douglas Emmett in a report on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Douglas Emmett presently has a consensus rating of “Hold” and an average price target of $39.56.

The firm’s 50-day moving average price is $39.14 and its 200-day moving average price is $38.52. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 69.66 and a beta of 0.70.

Douglas Emmett (NYSE:DEI) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Douglas Emmett had a return on equity of 2.95% and a net margin of 12.00%. The business had revenue of $199.60 million for the quarter, compared to analysts’ expectations of $198.60 million. During the same quarter in the prior year, the business posted $0.46 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities research analysts expect that Douglas Emmett, Inc. will post $0.55 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Thursday, September 28th. Douglas Emmett’s dividend payout ratio is currently 155.93%.

In related news, Chairman Dan A. Emmett sold 100,000 shares of the stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $38.99, for a total transaction of $3,899,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 300,000 shares of company stock valued at $11,492,000 in the last quarter. 17.80% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC grew its position in shares of Douglas Emmett by 372.6% during the first quarter. Citadel Advisors LLC now owns 29,869 shares of the real estate investment trust’s stock worth $1,147,000 after purchasing an additional 23,549 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Douglas Emmett by 10.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,304,547 shares of the real estate investment trust’s stock worth $49,847,000 after purchasing an additional 123,287 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Douglas Emmett by 8.8% during the second quarter. State of Alaska Department of Revenue now owns 39,400 shares of the real estate investment trust’s stock worth $1,504,000 after purchasing an additional 3,190 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Douglas Emmett by 35.6% during the second quarter. Canada Pension Plan Investment Board now owns 29,700 shares of the real estate investment trust’s stock worth $1,135,000 after purchasing an additional 7,800 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Douglas Emmett by 11.1% during the second quarter. Legal & General Group Plc now owns 751,696 shares of the real estate investment trust’s stock worth $28,723,000 after purchasing an additional 75,369 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

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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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