Douglas Emmett Inc. (DEI) Hits New 12-Month High at $36.55
Douglas Emmett Inc. (NYSE:DEI) hit a new 52-week high during trading on Thursday . The stock traded as high as $36.55 and last traded at $36.41, with a volume of 173,641 shares trading hands. The stock had previously closed at $36.47.
A number of research firms recently weighed in on DEI. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Douglas Emmett in a research note on Wednesday, March 16th. Citigroup Inc. upped their price target on Douglas Emmett from $30.50 to $35.50 and gave the stock a “neutral” rating in a research note on Thursday, July 7th. BMO Capital Markets downgraded Douglas Emmett from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $35.00 to $34.00 in a research note on Wednesday, June 1st. They noted that the move was a valuation call. Barclays PLC upped their price target on Douglas Emmett from $28.00 to $29.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 23rd. Finally, Robert W. Baird began coverage on Douglas Emmett in a research note on Thursday, June 30th. They set an “outperform” rating and a $39.00 price target on the stock. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. Douglas Emmett currently has a consensus rating of “Hold” and an average target price of $33.50.
The firm has a market capitalization of $5.38 billion and a P/E ratio of 100.33. The company’s 50 day moving average price is $34.47 and its 200 day moving average price is $31.00.
Douglas Emmett (NYSE:DEI) last announced its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The company had revenue of $168.60 million for the quarter, compared to analysts’ expectations of $160.24 million. The company’s revenue was up 8.9% on a year-over-year basis. On average, analysts anticipate that Douglas Emmett Inc. will post $1.77 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, June 28th. This represents a $0.88 dividend on an annualized basis and a yield of 2.41%.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 140,000 shares of the business’s stock in a transaction on Friday, April 22nd. The shares were sold at an average price of $31.52, for a total transaction of $4,412,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of large investors recently made changes to their positions in the stock. Standard Life Investments LTD raised its stake in shares of Douglas Emmett by 1.2% in the fourth quarter. Standard Life Investments LTD now owns 313,206 shares of the real estate investment trust’s stock worth $9,770,000 after buying an additional 3,736 shares in the last quarter. Wells Fargo & Company MN raised its stake in Douglas Emmett by 0.4% in the fourth quarter. Wells Fargo & Company MN now owns 52,238 shares of the real estate investment trust’s stock valued at $1,628,000 after buying an additional 209 shares during the period. Employees Retirement System of Texas raised its stake in Douglas Emmett by 24.4% in the fourth quarter. Employees Retirement System of Texas now owns 280,000 shares of the real estate investment trust’s stock valued at $8,730,000 after buying an additional 55,000 shares during the period. California Public Employees Retirement System raised its stake in Douglas Emmett by 1.0% in the fourth quarter. California Public Employees Retirement System now owns 346,445 shares of the real estate investment trust’s stock valued at $10,802,000 after buying an additional 3,500 shares during the period. Finally, Advantus Capital Management Inc raised its stake in Douglas Emmett by 165.8% in the fourth quarter. Advantus Capital Management Inc now owns 442,779 shares of the real estate investment trust’s stock valued at $13,806,000 after buying an additional 276,179 shares during the period.
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.
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