Douglas Emmett, Inc. (NYSE:DEI) was upgraded by research analysts at Stifel Nicolaus from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, The Fly reports.
DEI has been the subject of several other reports. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $38.00 target price on shares of Douglas Emmett in a report on Friday, November 11th. Zacks Investment Research lowered Douglas Emmett from a “buy” rating to a “hold” rating in a report on Friday, October 28th. Barclays PLC lowered their target price on Douglas Emmett from $35.00 to $32.00 and set an “underweight” rating for the company in a report on Monday, January 23rd. Finally, Wells Fargo & Company lowered Douglas Emmett from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 13th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Douglas Emmett presently has an average rating of “Hold” and a consensus target price of $36.54.
Douglas Emmett (NYSE:DEI) traded up 2.38% during mid-day trading on Wednesday, hitting $38.68. The stock had a trading volume of 1,091,598 shares. The company has a 50-day moving average of $37.06 and a 200-day moving average of $36.78. Douglas Emmett has a 12-month low of $24.73 and a 12-month high of $39.25. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 74.24 and a beta of 0.76.
Douglas Emmett (NYSE:DEI) last announced its quarterly earnings data on Tuesday, February 7th. The real estate investment trust reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.36. The firm earned $194.64 million during the quarter, compared to analyst estimates of $192.10 million. Douglas Emmett had a return on equity of 3.04% and a net margin of 11.27%. Douglas Emmett’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 earnings per share. On average, analysts anticipate that Douglas Emmett will post $0.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.38%. This is an increase from Douglas Emmett’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, December 28th. Douglas Emmett’s dividend payout ratio is 176.93%.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, January 19th. The stock was sold at an average price of $37.16, for a total value of $3,716,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Dan A. Emmett sold 117,288 shares of the company’s stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $36.90, for a total value of $4,327,927.20. The disclosure for this sale can be found here. Insiders sold 357,288 shares of company stock valued at $13,026,527 over the last 90 days. 23.00% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. American International Group Inc. increased its stake in shares of Douglas Emmett by 1.9% in the third quarter. American International Group Inc. now owns 277,177 shares of the real estate investment trust’s stock worth $10,153,000 after buying an additional 5,160 shares during the period. BlackRock Advisors LLC increased its stake in shares of Douglas Emmett by 7.8% in the second quarter. BlackRock Advisors LLC now owns 77,515 shares of the real estate investment trust’s stock worth $2,753,000 after buying an additional 5,602 shares during the period. Sei Investments Co. increased its stake in shares of Douglas Emmett by 8.5% in the third quarter. Sei Investments Co. now owns 525,949 shares of the real estate investment trust’s stock worth $19,265,000 after buying an additional 41,084 shares during the period. Duff & Phelps Investment Management Co. increased its stake in shares of Douglas Emmett by 28.3% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,659,594 shares of the real estate investment trust’s stock worth $60,791,000 after buying an additional 366,223 shares during the period. Finally, BlackRock Group LTD increased its stake in shares of Douglas Emmett by 10.7% in the third quarter. BlackRock Group LTD now owns 1,018,676 shares of the real estate investment trust’s stock worth $37,315,000 after buying an additional 98,406 shares during the period. Hedge funds and other institutional investors own 99.21% of the company’s stock.
Douglas Emmett Company Profile
Douglas Emmett, Inc is a self-administered and self-managed real estate investment trust. The Company is owner and operator of office and multifamily properties located in submarkets in California and Hawaii. The Company operates in two segments: the acquisition, development, ownership and management of office real estate, and the acquisition, development, ownership and management of multifamily real estate.