Oppenheimer Asset Management Inc. raised its stake in Douglas Emmett, Inc. (NYSE:DEI) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,708 shares of the real estate investment trust’s stock after acquiring an additional 495 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Douglas Emmett were worth $1,517,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Douglas Emmett by 5,476.3% in the first quarter. BlackRock Inc. now owns 16,063,311 shares of the real estate investment trust’s stock worth $616,831,000 after buying an additional 15,775,247 shares during the period. Bank of New York Mellon Corp raised its stake in Douglas Emmett by 12.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,582,021 shares of the real estate investment trust’s stock valued at $289,711,000 after purchasing an additional 863,062 shares during the period. Vanguard Group Inc. raised its stake in Douglas Emmett by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 22,897,888 shares of the real estate investment trust’s stock valued at $879,280,000 after purchasing an additional 718,419 shares during the period. American Century Companies Inc. bought a new stake in Douglas Emmett during the 2nd quarter valued at approximately $25,319,000. Finally, Marshall Wace North America L.P. bought a new stake in Douglas Emmett during the 2nd quarter valued at approximately $17,506,000. 96.16% of the stock is currently owned by institutional investors.
In related news, Chairman Dan A. Emmett sold 100,000 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.80% of the stock is currently owned by corporate insiders.
DEI has been the subject of a number of research analyst reports. Zacks Investment Research raised Douglas Emmett from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Tuesday, July 18th. DA Davidson lowered Douglas Emmett from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $45.00 to $43.00 in a research note on Thursday, May 18th. BidaskClub lowered Douglas Emmett from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Barclays PLC decreased their target price on Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating for the company in a research report on Tuesday, July 18th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $39.00 price target 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 assigned a hold rating and one has given a buy rating to the company. Douglas Emmett has an average rating of “Hold” and a consensus target price of $39.56.
Douglas Emmett, Inc. (NYSE:DEI) traded down 0.18% during mid-day trading on Friday, reaching $39.09. The company’s stock had a trading volume of 144,592 shares. The stock’s 50 day moving average is $38.29 and its 200 day moving average is $38.44. Douglas Emmett, Inc. has a one year low of $33.78 and a one year high of $40.79. The firm has a market cap of $6.37 billion, a PE ratio of 66.82 and a beta of 0.69.
Douglas Emmett (NYSE:DEI) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.01). The business had revenue of $199.60 million for the quarter, compared to the consensus estimate of $198.60 million. Douglas Emmett had a return on equity of 2.95% and a net margin of 12.00%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 earnings per share. On average, analysts anticipate that Douglas Emmett, Inc. will post $0.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a $0.23 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.35%. Douglas Emmett’s dividend payout ratio (DPR) is presently 155.93%.
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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