State of Tennessee Treasury Department Increases Position in Douglas Emmett, Inc. (NYSE:DEI)
State of Tennessee Treasury Department boosted its stake in shares of Douglas Emmett, Inc. (NYSE:DEI) by 75.0% during the first quarter, HoldingsChannel.com reports. The firm owned 340,225 shares of the real estate investment trust’s stock after acquiring an additional 145,823 shares during the period. State of Tennessee Treasury Department’s holdings in Douglas Emmett were worth $10,381,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. First Trust Advisors LP grew its holdings in Douglas Emmett by 90.0% during the 1st quarter. First Trust Advisors LP now owns 57,674 shares of the real estate investment trust’s stock valued at $2,331,000 after purchasing an additional 27,327 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Douglas Emmett by 32.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 143,553 shares of the real estate investment trust’s stock worth $5,802,000 after purchasing an additional 34,975 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Douglas Emmett by 1.3% during the fourth quarter. Victory Capital Management Inc. now owns 31,330 shares of the real estate investment trust’s stock worth $1,300,000 after purchasing an additional 408 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Douglas Emmett by 11.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,721 shares of the real estate investment trust’s stock worth $251,000 after purchasing an additional 607 shares during the period. Finally, Aviva PLC lifted its stake in Douglas Emmett by 3.3% in the fourth quarter. Aviva PLC now owns 92,509 shares of the real estate investment trust’s stock valued at $4,061,000 after acquiring an additional 2,971 shares during the last quarter. 92.85% of the stock is currently owned by institutional investors.
DEI has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Douglas Emmett from $44.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Evercore ISI raised shares of Douglas Emmett from an “in-line” rating to an “outperform” rating and dropped their target price for the stock from $45.00 to $35.00 in a research report on Wednesday, March 25th. Wells Fargo & Co lowered their price target on shares of Douglas Emmett from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 10th. Stifel Nicolaus dropped their target price on shares of Douglas Emmett from $47.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, April 3rd. Finally, Zacks Investment Research lowered shares of Douglas Emmett from a “buy” rating to a “hold” rating in a report on Tuesday, April 21st. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Douglas Emmett presently has a consensus rating of “Hold” and a consensus target price of $37.82.
Shares of Douglas Emmett stock traded down $0.14 during trading on Friday, reaching $30.62. The company’s stock had a trading volume of 20,682 shares, compared to its average volume of 1,332,278. The business’s 50-day moving average price is $29.81 and its 200-day moving average price is $35.92. The firm has a market cap of $5.20 billion, a PE ratio of 14.93, a P/E/G ratio of 2.51 and a beta of 0.73. Douglas Emmett, Inc. has a 52 week low of $23.16 and a 52 week high of $45.59. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 1.12.
Douglas Emmett (NYSE:DEI) last announced its earnings results on Thursday, May 7th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.40). The business had revenue of $251.40 million during the quarter, compared to the consensus estimate of $236.99 million. Douglas Emmett had a net margin of 37.55% and a return on equity of 8.75%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. Equities analysts predict that Douglas Emmett, Inc. will post 2.13 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Monday, June 29th. Douglas Emmett’s dividend payout ratio (DPR) is presently 53.33%.
Douglas Emmett Profile
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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