Douglas Emmett, Inc. (DEI) Earns Buy Rating from Stifel Nicolaus
Stifel Nicolaus reissued their buy rating on shares of Douglas Emmett, Inc. (NYSE:DEI) in a research report released on Thursday morning. Stifel Nicolaus currently has a $42.00 price objective on the real estate investment trust’s stock.
Several other research firms have also commented on DEI. BidaskClub lowered shares of Douglas Emmett from a sell rating to a strong sell rating in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of Douglas Emmett from a buy rating to a hold rating in a research report on Friday, August 4th. BMO Capital Markets reiterated a hold rating and issued a $39.00 price objective on shares of Douglas Emmett in a research report on Tuesday, July 4th. Barclays PLC decreased their price objective on shares of Douglas Emmett from $36.00 to $35.00 and set an underweight rating on the stock in a research report on Tuesday, July 18th. Finally, Janney Montgomery Scott began coverage on shares of Douglas Emmett in a research report on Friday, September 8th. They issued a neutral rating on the stock. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Douglas Emmett currently has an average rating of Hold and a consensus target price of $39.56.
Douglas Emmett (DEI) opened at 38.88 on Thursday. Douglas Emmett has a 12-month low of $33.78 and a 12-month high of $40.79. The stock has a market capitalization of $6.33 billion, a P/E ratio of 66.46 and a beta of 0.69. The firm’s 50-day moving average is $38.34 and its 200 day moving average is $38.38.
Douglas Emmett (NYSE:DEI) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). The company had revenue of $199.60 million for the quarter, compared to analysts’ expectations of $198.60 million. Douglas Emmett had a return on equity of 2.95% and a net margin of 12.00%. Douglas Emmett’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Equities analysts expect that Douglas Emmett will post $0.55 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, September 28th. Douglas Emmett’s payout ratio is 155.93%.
In related news, Chairman Dan A. Emmett sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $37.96, for a total value of $3,796,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 17.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Douglas Emmett by 9.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 299 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in Douglas Emmett in the 2nd quarter valued at about $206,000. Clinton Group Inc. acquired a new position in Douglas Emmett in the 1st quarter valued at about $222,000. Riverhead Capital Management LLC raised its stake in Douglas Emmett by 68.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,220 shares of the real estate investment trust’s stock valued at $238,000 after purchasing an additional 2,520 shares during the last quarter. Finally, TLP Group LLC acquired a new position in Douglas Emmett in the 2nd quarter valued at about $248,000. 96.08% of the stock is owned by hedge funds and other institutional investors.
Douglas Emmett Company Profile
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).
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