Northwestern Mutual Investment Management Company LLC decreased its position in shares of Douglas Emmett, Inc. (NYSE:DEI) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,241 shares of the real estate investment trust’s stock after selling 823 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Douglas Emmett were worth $861,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of DEI. PNC Financial Services Group Inc. raised its holdings in shares of Douglas Emmett by 9.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 299 shares during the last quarter. Tyers Asset Management LLC raised its holdings in shares of Douglas Emmett by 23.5% during the first quarter. Tyers Asset Management LLC now owns 5,376 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 1,024 shares during the last quarter. Clinton Group Inc. purchased a new position in shares of Douglas Emmett during the first quarter worth $222,000. Fox Run Management L.L.C. purchased a new position in shares of Douglas Emmett during the second quarter worth $260,000. Finally, Parametrica Management Ltd purchased a new position in shares of Douglas Emmett during the second quarter worth $272,000. 96.08% of the stock is owned by institutional investors.
Douglas Emmett, Inc. (NYSE:DEI) opened at 38.88 on Friday. Douglas Emmett, Inc. has a 12-month low of $33.78 and a 12-month high of $40.79. The firm has a market cap of $6.33 billion, a PE ratio of 66.46 and a beta of 0.69. The firm’s 50-day moving average is $38.34 and its 200 day moving average is $38.38.
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). The company had revenue of $199.60 million during the quarter, compared to the consensus estimate of $198.60 million. Douglas Emmett had a net margin of 12.00% and a return on equity of 2.95%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. Equities research analysts predict that Douglas Emmett, Inc. will post $0.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, September 28th. Douglas Emmett’s payout ratio is presently 155.93%.
In other news, Chairman Dan A. Emmett sold 100,000 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $37.97, for a total transaction of $3,797,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 17.80% of the stock is currently owned by corporate insiders.
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Several analysts recently commented on DEI shares. BMO Capital Markets reiterated a “hold” rating and issued a $39.00 target price on shares of Douglas Emmett in a research report on Tuesday, July 4th. Zacks Investment Research raised shares of Douglas Emmett from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Tuesday, July 18th. Stifel Nicolaus reissued a “buy” rating and issued a $42.00 price target on shares of Douglas Emmett in a research note on Thursday. BidaskClub downgraded shares of Douglas Emmett from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, Barclays PLC reduced their price target on shares of Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 18th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Douglas Emmett has a consensus rating of “Hold” and an average price target of $39.56.
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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