Douglas Emmett, Inc. (DEI) Stock Rating Reaffirmed by Mizuho
Mizuho reaffirmed their hold rating on shares of Douglas Emmett, Inc. (NYSE:DEI) in a report released on Friday morning. They currently have a $41.00 price objective on the real estate investment trust’s stock.
Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus reiterated a buy rating and issued a $42.00 price objective on shares of Douglas Emmett in a research note on Thursday, September 21st. Zacks Investment Research upgraded shares of Douglas Emmett from a hold rating to a buy rating and set a $43.00 target price on the stock in a research note on Tuesday, July 18th. KeyCorp reaffirmed a hold rating on shares of Douglas Emmett in a report on Sunday, September 24th. BMO Capital Markets reaffirmed a hold rating and set a $39.00 price objective on shares of Douglas Emmett in a report on Tuesday, July 4th. Finally, Janney Montgomery Scott began coverage on shares of Douglas Emmett in a report on Friday, September 8th. They set a neutral rating for the company. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $39.78.
Shares of Douglas Emmett (NYSE DEI) opened at 39.58 on Friday. Douglas Emmett has a 12 month low of $33.78 and a 12 month high of $41.12. The firm has a 50-day moving average of $39.65 and a 200 day moving average of $38.65. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 67.66 and a beta of 0.70.
Douglas Emmett (NYSE:DEI) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Douglas Emmett had a net margin of 12.00% and a return on equity of 2.95%. The company had revenue of $199.60 million for the quarter, compared to analysts’ expectations of $198.60 million. During the same period in the previous year, the business earned $0.46 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. On average, analysts expect that Douglas Emmett will post $0.56 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a $0.23 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.32%. Douglas Emmett’s payout ratio is currently 155.93%.
In other Douglas Emmett 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 can be accessed through this link. Insiders own 17.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its holdings in Douglas Emmett by 10.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,304,547 shares of the real estate investment trust’s stock worth $49,847,000 after purchasing an additional 123,287 shares in the last quarter. Legal & General Group Plc raised its holdings in Douglas Emmett by 11.1% in the second quarter. Legal & General Group Plc now owns 751,696 shares of the real estate investment trust’s stock worth $28,723,000 after purchasing an additional 75,369 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Douglas Emmett by 8.8% in the second quarter. State of Alaska Department of Revenue now owns 39,400 shares of the real estate investment trust’s stock worth $1,504,000 after purchasing an additional 3,190 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Douglas Emmett by 35.6% in the second quarter. Canada Pension Plan Investment Board now owns 29,700 shares of the real estate investment trust’s stock worth $1,135,000 after purchasing an additional 7,800 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new position in Douglas Emmett in the second quarter worth about $1,709,000. Institutional investors and hedge funds own 96.29% 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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