Douglas Emmett Inc. (DEI) Shares Bought by Retirement Systems of Alabama
Retirement Systems of Alabama raised its position in shares of Douglas Emmett Inc. (NYSE:DEI) by 0.4% during the second quarter, Holdings Channel reports. The firm owned 181,128 shares of the real estate investment trust’s stock after buying an additional 640 shares during the period. Retirement Systems of Alabama’s holdings in Douglas Emmett were worth $6,434,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the stock. Invictus RG acquired a new stake in shares of Douglas Emmett during the first quarter worth about $151,000. Bank of Montreal Can acquired a new stake in shares of Douglas Emmett during the second quarter worth about $190,000. BlackRock Japan Co. Ltd boosted 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 worth $224,000 after buying an additional 93 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Douglas Emmett during the first quarter worth about $226,000. Finally, Oakbrook Investments LLC acquired a new stake in shares of Douglas Emmett during the second quarter worth about $250,000. 97.75% of the stock is owned by institutional investors.
Shares of Douglas Emmett Inc. (NYSE:DEI) traded down 1.54% on Tuesday, reaching $35.20. 979,246 shares of the company’s stock traded hands. The stock has a 50-day moving average of $36.80 and a 200 day moving average of $34.83. The firm has a market cap of $5.32 billion, a P/E ratio of 89.34 and a beta of 0.93. Douglas Emmett Inc. has a 12-month low of $24.73 and a 12-month high of $38.71.
Douglas Emmett (NYSE:DEI) last posted its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Douglas Emmett had a net margin of 8.88% and a return on equity of 2.45%. The firm earned $187.22 million during the quarter, compared to analyst estimates of $177.61 million. During the same period last year, the firm posted $0.40 earnings per share. Douglas Emmett’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities research analysts expect that Douglas Emmett Inc. will post $1.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Wednesday, September 28th. Douglas Emmett’s dividend payout ratio (DPR) is presently 225.65%.
DEI has been the subject of a number of research reports. DA Davidson upped their price objective on shares of Douglas Emmett from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Zacks Investment Research raised shares of Douglas Emmett from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, October 5th. BTIG Research initiated coverage on shares of Douglas Emmett in a research note on Thursday, August 25th. They issued a “neutral” rating for the company. Mizuho cut shares of Douglas Emmett from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Thursday, August 4th. Finally, Citigroup Inc. upped their price target on shares of Douglas Emmett from $30.50 to $35.50 and gave the company a “neutral” rating in a report on Thursday, July 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $35.29.
In related news, Chairman Dan A. Emmett sold 140,000 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $36.99, for a total value of $5,178,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.00% of the stock is currently owned by corporate insiders.
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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