Douglas Emmett Inc. (DEI) Sets New 1-Year High at $36.56
Douglas Emmett Inc. (NYSE:DEI) shares reached a new 52-week high on Wednesday . The company traded as high as $36.56 and last traded at $36.55, with a volume of 504,547 shares changing hands. The stock had previously closed at $36.36.
A number of research analysts have weighed in on the stock. Robert W. Baird assumed coverage on shares of Douglas Emmett in a report on Thursday, June 30th. They issued an “outperform” rating and a $39.00 price objective for the company. Credit Suisse Group AG reaffirmed a “sell” rating and issued a $29.00 price objective on shares of Douglas Emmett in a report on Thursday, May 5th. Barclays PLC reissued an “underweight” rating and set a $33.00 target price (up previously from $31.00) on shares of Douglas Emmett in a research note on Tuesday. Stifel Nicolaus boosted their target price on shares of Douglas Emmett from $23.50 to $30.00 and gave the stock a “sell” rating in a research note on Friday, May 6th. Finally, BMO Capital Markets cut shares of Douglas Emmett from an “outperform” rating to a “market perform” rating and cut their target price 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. 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. The company has an average rating of “Hold” and a consensus target price of $33.65.
The firm’s 50-day moving average is $34.83 and its 200-day moving average is $31.19. The stock has a market cap of $5.40 billion and a P/E ratio of 100.69.
Douglas Emmett (NYSE:DEI) last released its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The firm earned $168.60 million during the quarter, compared to analyst estimates of $160.24 million. The business’s revenue was up 8.9% on a year-over-year basis. Equities research analysts predict that Douglas Emmett Inc. will post $1.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Tuesday, June 28th.
In other news, Chairman Dan A. Emmett sold 140,000 shares of the firm’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $33.85, for a total value of $4,739,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Several hedge funds recently made changes to their positions in DEI. Vanguard Group Inc. boosted its stake in shares of Douglas Emmett by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 20,065,272 shares of the real estate investment trust’s stock valued at $625,634,000 after buying an additional 496,622 shares during the period. Schroder Investment Management Group boosted its stake in shares of Douglas Emmett by 15.0% in the fourth quarter. Schroder Investment Management Group now owns 2,413,746 shares of the real estate investment trust’s stock valued at $75,261,000 after buying an additional 315,073 shares during the period. Advantus Capital Management Inc boosted its stake in shares of 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. Boston Partners boosted its stake in shares of Douglas Emmett by 8.6% in the fourth quarter. Boston Partners now owns 2,870,489 shares of the real estate investment trust’s stock valued at $89,502,000 after buying an additional 228,109 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Douglas Emmett by 188.2% in the fourth quarter. First Trust Advisors LP now owns 145,774 shares of the real estate investment trust’s stock valued at $4,545,000 after buying an additional 95,195 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.