New Mexico Educational Retirement Board Has $881,000 Position in Douglas Emmett, Inc. (DEI)
New Mexico Educational Retirement Board increased its stake in shares of Douglas Emmett, Inc. (NYSE:DEI) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,353 shares of the real estate investment trust’s stock after purchasing an additional 1,400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Douglas Emmett were worth $881,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of DEI. FMR LLC increased its position in Douglas Emmett by 9.8% during the 2nd quarter. FMR LLC now owns 11,749,721 shares of the real estate investment trust’s stock valued at $448,956,000 after buying an additional 1,049,842 shares in the last quarter. Cohen & Steers Inc. increased its holdings in shares of Douglas Emmett by 7.0% in the third quarter. Cohen & Steers Inc. now owns 15,328,882 shares of the real estate investment trust’s stock valued at $604,265,000 after purchasing an additional 1,000,650 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Douglas Emmett by 12.8% in the second quarter. Bank of New York Mellon Corp now owns 7,582,021 shares of the real estate investment trust’s stock valued at $289,711,000 after purchasing an additional 863,062 shares during the period. Balyasny Asset Management LLC increased its holdings in shares of Douglas Emmett by 476.6% in the second quarter. Balyasny Asset Management LLC now owns 835,184 shares of the real estate investment trust’s stock valued at $31,912,000 after purchasing an additional 690,349 shares during the period. Finally, American Century Companies Inc. acquired a new position in shares of Douglas Emmett in the second quarter valued at about $25,319,000. Hedge funds and other institutional investors own 96.51% of the company’s stock.
In other news, Chairman Dan A. Emmett sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $38.99, for a total value of $3,899,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 17.80% of the company’s stock.
Douglas Emmett, Inc. (NYSE DEI) traded up $0.16 during midday trading on Friday, hitting $41.01. The stock had a trading volume of 841,700 shares, compared to its average volume of 748,778. The stock has a market capitalization of $6,925.11, a P/E ratio of 21.61, a PEG ratio of 3.36 and a beta of 0.71. Douglas Emmett, Inc. has a 1-year low of $35.27 and a 1-year high of $41.28.
Douglas Emmett (NYSE:DEI) last released its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. The business had revenue of $208.75 million for the quarter, compared to the consensus estimate of $203.99 million. Douglas Emmett had a return on equity of 2.58% and a net margin of 11.29%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 earnings per share. research analysts forecast that Douglas Emmett, Inc. will post 1.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Thursday, December 28th. This is an increase from Douglas Emmett’s previous quarterly dividend of $0.23. Douglas Emmett’s dividend payout ratio (DPR) is 173.59%.
A number of analysts have recently commented on DEI shares. TheStreet upgraded Douglas Emmett from a “c+” rating to a “b-” rating in a research note on Wednesday, November 15th. Stifel Nicolaus restated a “buy” rating and issued a $42.00 target price on shares of Douglas Emmett in a research note on Thursday, September 21st. KeyCorp reiterated a “hold” rating on shares of Douglas Emmett in a research report on Sunday, September 24th. Mizuho reiterated a “hold” rating and set a $41.00 price target on shares of Douglas Emmett in a research report on Friday, October 27th. Finally, Janney Montgomery Scott assumed coverage on Douglas Emmett in a research report on Friday, September 8th. They set a “neutral” rating on the stock. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $41.38.
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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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