Douglas Emmett’s (DEI) “Hold” Rating Reaffirmed at KeyCorp
Several other equities analysts also recently weighed in on the company. Zacks Investment Research raised Douglas Emmett from a hold rating to a buy rating and set a $43.00 price objective for the company in a research note on Tuesday, July 18th. Janney Montgomery Scott started coverage on Douglas Emmett in a research note on Friday, September 8th. They issued a neutral rating for the company. BidaskClub downgraded Douglas Emmett from a hold rating to a sell rating in a research note on Saturday, June 24th. Barclays PLC dropped their price objective on Douglas Emmett from $36.00 to $35.00 and set an underweight rating for the company in a research note on Tuesday, July 18th. Finally, BMO Capital Markets reaffirmed a hold rating and issued a $39.00 price objective on shares of Douglas Emmett in a research note on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $39.56.
Shares of Douglas Emmett (NYSE DEI) opened at 38.88 on Friday. Douglas Emmett has a 52 week low of $33.78 and a 52 week high of $40.79. The stock has a 50 day moving average price of $38.34 and a 200-day moving average price of $38.38. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 66.46 and a beta of 0.69.
Douglas Emmett (NYSE:DEI) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). Douglas Emmett had a net margin of 12.00% and a return on equity of 2.95%. The firm had revenue of $199.60 million during the quarter, compared to analysts’ expectations of $198.60 million. During the same period in the previous year, the business earned $0.46 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts anticipate 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 issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Thursday, September 28th. Douglas Emmett’s payout ratio is currently 155.93%.
In related news, Chairman Dan A. Emmett sold 100,000 shares of Douglas Emmett stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $37.96, for a total value of $3,796,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 17.80% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its holdings in Douglas Emmett by 9.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 299 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in Douglas Emmett in the second quarter valued at $206,000. Clinton Group Inc. acquired a new position in Douglas Emmett in the first quarter valued at $222,000. Riverhead Capital Management LLC boosted its holdings in Douglas Emmett by 68.1% in the second quarter. Riverhead Capital Management LLC now owns 6,220 shares of the real estate investment trust’s stock valued at $238,000 after acquiring an additional 2,520 shares during the last quarter. Finally, TLP Group LLC acquired a new position in Douglas Emmett in the second quarter valued at $248,000. Hedge funds and other institutional investors own 96.08% of the company’s stock.
About Douglas Emmett
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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