Douglas Emmett, Inc. (DEI) Receives $39.00 Average Target Price from Analysts
Shares of Douglas Emmett, Inc. (NYSE:DEI) have received a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $39.29.
Several research firms have recently commented on DEI. BidaskClub cut Douglas Emmett from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Mizuho restated a “hold” rating and set a $41.00 price target on shares of Douglas Emmett in a research note on Friday. Zacks Investment Research cut Douglas Emmett from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Stifel Nicolaus upgraded Douglas Emmett from a “hold” rating to a “buy” rating and upped their price target for the stock from $38.00 to $42.00 in a research note on Wednesday, August 2nd. They noted that the move was a valuation call. Finally, KeyCorp restated a “hold” rating on shares of Douglas Emmett in a research note on Sunday, September 24th.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of the stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 17.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in DEI. FMR LLC raised its position in Douglas Emmett by 9.8% in the second quarter. FMR LLC now owns 11,749,721 shares of the real estate investment trust’s stock worth $448,956,000 after acquiring an additional 1,049,842 shares in the last quarter. Bank of New York Mellon Corp raised its position in 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 worth $289,711,000 after acquiring an additional 863,062 shares in the last quarter. Balyasny Asset Management LLC raised its position in 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 worth $31,912,000 after acquiring an additional 690,349 shares in the last quarter. American Century Companies Inc. purchased a new position in Douglas Emmett in the second quarter worth $25,319,000. Finally, Renaissance Technologies LLC raised its position in Douglas Emmett by 272.9% in the second quarter. Renaissance Technologies LLC now owns 885,000 shares of the real estate investment trust’s stock worth $33,816,000 after acquiring an additional 647,700 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.
Douglas Emmett (NYSE:DEI) traded up 0.53% during trading on Thursday, reaching $39.79. 431,027 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $39.67 and a 200-day moving average of $38.66. The stock has a market capitalization of $6.48 billion, a PE ratio of 68.02 and a beta of 0.70. Douglas Emmett has a 52 week low of $33.78 and a 52 week high of $41.12.
Douglas Emmett (NYSE:DEI) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $198.60 million. During the same period in the previous year, the company posted $0.46 earnings per share. Douglas Emmett’s revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that Douglas Emmett will post $0.56 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, September 28th. Douglas Emmett’s payout ratio is 155.93%.
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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