Westpac Banking Corp Increases Holding in Douglas Emmett, Inc. (DEI)

Westpac Banking Corp Increases Holding in Douglas Emmett, Inc. (DEI)

Westpac Banking Corp raised its stake in shares of Douglas Emmett, Inc. (NYSE:DEI) by 8.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,233 shares of the real estate investment trust’s stock after buying an additional 11,192 shares during the period. Westpac Banking Corp’s holdings in Douglas Emmett were worth $4,611,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. FMR LLC raised its position in shares of Douglas Emmett by 2.4% in the fourth quarter. FMR LLC now owns 11,879,195 shares of the real estate investment trust’s stock valued at $434,304,000 after buying an additional 282,023 shares during the period. Bank of New York Mellon Corp raised its position in shares of Douglas Emmett by 32.9% in the first quarter. Bank of New York Mellon Corp now owns 6,718,959 shares of the real estate investment trust’s stock valued at $258,007,000 after buying an additional 1,664,776 shares during the period. Boston Partners raised its position in shares of Douglas Emmett by 12.8% in the first quarter. Boston Partners now owns 3,907,349 shares of the real estate investment trust’s stock valued at $150,042,000 after buying an additional 443,555 shares during the period. AMP Capital Investors Ltd raised its position in shares of Douglas Emmett by 16.8% in the third quarter. AMP Capital Investors Ltd now owns 2,153,932 shares of the real estate investment trust’s stock valued at $78,875,000 after buying an additional 309,800 shares during the period. Finally, Resolution Capital Ltd raised its position in shares of Douglas Emmett by 5.6% in the first quarter. Resolution Capital Ltd now owns 1,992,285 shares of the real estate investment trust’s stock valued at $76,504,000 after buying an additional 105,385 shares during the period. 99.06% of the stock is currently owned by hedge funds and other institutional investors.

Douglas Emmett (NYSE:DEI) last released its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. Douglas Emmett had a return on equity of 3.03% and a net margin of 11.50%. The business had revenue of $170.35 million during the quarter, compared to analysts’ expectations of $191.93 million.

Several equities analysts have issued reports on DEI shares. DA Davidson lowered Douglas Emmett from a “buy” rating to a “neutral” rating and dropped their price target for the company from $45.00 to $43.00 in a research note on Thursday, May 18th. Zacks Investment Research raised Douglas Emmett from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Tuesday, April 11th. JPMorgan Chase & Co. boosted their price target on Douglas Emmett from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, April 3rd. BMO Capital Markets reissued a “hold” rating and issued a $37.00 price target on shares of Douglas Emmett in a research note on Wednesday, February 8th. Finally, Mizuho boosted their price target on Douglas Emmett from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, February 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $39.15.

In other news, Chairman Dan A. Emmett sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $39.19, for a total value of $3,919,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 300,000 shares of company stock valued at $11,546,000. 23.00% of the stock is currently owned by company insiders.

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “DEI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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