Dan A. Emmett Sells 140,000 Shares of Douglas Emmett Inc. (DEI) Stock
Douglas Emmett Inc. (NYSE:DEI) Chairman Dan A. Emmett sold 140,000 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $35.75, for a total value of $5,005,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Douglas Emmett Inc. (NYSE:DEI) opened at 36.84 on Thursday. The firm has a 50-day moving average price of $37.20 and a 200 day moving average price of $34.11. The firm has a market capitalization of $5.56 billion, a P/E ratio of 93.50 and a beta of 0.91. Douglas Emmett Inc. has a 52-week low of $24.73 and a 52-week high of $38.71.
Douglas Emmett (NYSE:DEI) last issued its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. Douglas Emmett had a return on equity of 2.45% and a net margin of 8.88%. The business had revenue of $187.22 million for the quarter, compared to the consensus estimate of $177.61 million. During the same period in the prior year, the business earned $0.40 earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. Analysts forecast that Douglas Emmett Inc. will post $1.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.39%. Douglas Emmett’s dividend payout ratio is currently 225.65%.
Hedge funds have recently modified their holdings of the stock. Invictus RG bought a new stake in shares of Douglas Emmett during the first quarter valued at about $151,000. Bank of Montreal Can bought a new stake in shares of Douglas Emmett during the second quarter valued at about $190,000. Tower Research Capital LLC TRC increased its stake in shares of Douglas Emmett by 15,373.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,725 shares of the real estate investment trust’s stock valued at $203,000 after buying an additional 5,688 shares in the last quarter. BlackRock Japan Co. Ltd increased its stake in shares of Douglas Emmett by 1.3% in the first quarter. BlackRock Japan Co. Ltd now owns 7,430 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 93 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Douglas Emmett during the first quarter valued at about $226,000. Institutional investors and hedge funds own 97.75% of the company’s stock.
A number of brokerages recently issued reports on DEI. Zacks Investment Research downgraded Douglas Emmett from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. DA Davidson raised their price objective on Douglas Emmett from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Mizuho downgraded Douglas Emmett from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Thursday, August 4th. BTIG Research began coverage on Douglas Emmett in a research report on Thursday, August 25th. They set a “neutral” rating for the company. Finally, Barclays PLC raised their price objective on Douglas Emmett from $33.00 to $35.00 and gave the stock an “underweight” rating in a research report on Monday, August 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $34.46.
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.
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