Stifel Nicolaus reiterated their buy rating on shares of Douglas Emmett, Inc. (NYSE:DEI) in a research report sent to investors on Thursday. The brokerage currently has a $42.00 target price on the real estate investment trust’s stock.
A number of other equities analysts have also commented on DEI. BidaskClub upgraded shares of Douglas Emmett from a sell rating to a hold rating in a report on Thursday, June 15th. BMO Capital Markets reiterated a hold rating and issued a $39.00 price objective on shares of Douglas Emmett in a report on Tuesday, July 4th. Barclays PLC cut their price objective on shares of Douglas Emmett from $36.00 to $35.00 and set an underweight rating on the stock in a report on Tuesday, July 18th. Zacks Investment Research upgraded shares of Douglas Emmett from a hold rating to a buy rating and set a $43.00 price objective on the stock in a report on Tuesday, July 18th. Finally, Janney Montgomery Scott initiated coverage on shares of Douglas Emmett in a report on Friday, September 8th. They issued a neutral rating on the stock. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $39.56.
Douglas Emmett (NYSE:DEI) opened at 38.88 on Thursday. Douglas Emmett has a 12-month low of $33.78 and a 12-month high of $40.79. The company has a 50-day moving average price of $38.34 and a 200 day moving average price of $38.38. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 66.46 and a beta of 0.69.
Douglas Emmett (NYSE:DEI) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). 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 analyst estimates of $198.60 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts predict that Douglas Emmett will post $0.55 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.37%. Douglas Emmett’s dividend payout ratio (DPR) is presently 155.93%.
In other news, Chairman Dan A. Emmett sold 100,000 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $37.97, for a total value of $3,797,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 17.80% of the company’s stock.
Several institutional investors have recently modified their holdings of DEI. Wells Fargo & Company MN raised its stake in shares of Douglas Emmett by 42.0% in the 1st quarter. Wells Fargo & Company MN now owns 94,115 shares of the real estate investment trust’s stock valued at $3,614,000 after purchasing an additional 27,828 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Douglas Emmett by 63.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 21,900 shares of the real estate investment trust’s stock valued at $841,000 after purchasing an additional 8,500 shares in the last quarter. Suntrust Banks Inc. raised its stake in shares of Douglas Emmett by 2.5% in the 1st quarter. Suntrust Banks Inc. now owns 11,698 shares of the real estate investment trust’s stock valued at $448,000 after purchasing an additional 285 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Douglas Emmett by 2.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,732 shares of the real estate investment trust’s stock valued at $1,257,000 after purchasing an additional 702 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Douglas Emmett by 0.6% in the 1st quarter. Swiss National Bank now owns 237,100 shares of the real estate investment trust’s stock valued at $9,105,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 96.08% 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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