BlackRock Inc. Lowers Position in Douglas Emmett, Inc. (NYSE:DEI)
BlackRock Inc. trimmed its stake in Douglas Emmett, Inc. (NYSE:DEI) by 2.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,647,829 shares of the real estate investment trust’s stock after selling 528,174 shares during the quarter. BlackRock Inc. owned about 0.11% of Douglas Emmett worth $782,768,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. NEXT Financial Group Inc grew its holdings in Douglas Emmett by 76.3% in the second quarter. NEXT Financial Group Inc now owns 1,733 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 750 shares during the period. Altshuler Shaham Ltd grew its holdings in Douglas Emmett by 102.2% in the second quarter. Altshuler Shaham Ltd now owns 2,218 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 1,121 shares during the period. Exane Derivatives purchased a new stake in Douglas Emmett in the second quarter valued at approximately $194,000. Great Lakes Advisors LLC purchased a new stake in Douglas Emmett in the second quarter valued at approximately $201,000. Finally, Natixis purchased a new stake in Douglas Emmett in the second quarter valued at approximately $209,000. Hedge funds and other institutional investors own 92.54% of the company’s stock.
Several equities research analysts have issued reports on DEI shares. Barclays reiterated a “hold” rating and set a $47.00 price objective on shares of Douglas Emmett in a research note on Sunday, October 13th. Zacks Investment Research downgraded shares of Douglas Emmett from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. BMO Capital Markets reiterated a “hold” rating and set a $45.00 price objective on shares of Douglas Emmett in a research note on Wednesday. Robert W. Baird set a $51.00 price objective on shares of Douglas Emmett and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, ValuEngine upgraded shares of Douglas Emmett from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $44.00.
Douglas Emmett (NYSE:DEI) last released its quarterly earnings data on Tuesday, November 5th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.38). Douglas Emmett had a return on equity of 2.84% and a net margin of 12.05%. The business had revenue of $238.07 million for the quarter, compared to analysts’ expectations of $237.69 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Douglas Emmett’s quarterly revenue was up 6.6% compared to the same quarter last year. Research analysts anticipate that Douglas Emmett, Inc. will post 2.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were paid a $0.26 dividend. The ex-dividend date was Friday, September 27th. This represents a $1.04 annualized dividend and a dividend yield of 2.41%. Douglas Emmett’s dividend payout ratio (DPR) is presently 51.49%.
About Douglas Emmett
Douglas Emmett, Inc (DEI) is a fully integrated, self-administered and self-managed real estate investment trust (REIT), and one of the largest owners and operators of high-quality office and multifamily properties located in the premier coastal submarkets of Los Angeles and Honolulu. Douglas Emmett focuses on owning and acquiring a substantial share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive housing and key lifestyle amenities.
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