Douglas Emmett, Inc. (NYSE:DEI) – Stock analysts at DA Davidson raised their Q2 2017 EPS estimates for shares of Douglas Emmett in a research report issued to clients and investors on Wednesday. DA Davidson analyst B. Oxford now expects that the brokerage will post earnings per share of $0.48 for the quarter, up from their previous forecast of $0.46. DA Davidson also issued estimates for Douglas Emmett’s FY2017 earnings at $1.92 EPS.
Douglas Emmett (NYSE:DEI) last released its quarterly earnings data on Tuesday, February 7th. The real estate investment trust reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.36. The business had revenue of $194.64 million for the quarter, compared to analyst estimates of $192.10 million. Douglas Emmett had a return on equity of 3.03% and a net margin of 11.50%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS.
DEI has been the subject of several other reports. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $38.00 target price on shares of Douglas Emmett in a report on Friday, November 11th. Zacks Investment Research downgraded Douglas Emmett from a “buy” rating to a “hold” rating in a report on Friday, October 28th. Barclays PLC reduced their target price on Douglas Emmett from $35.00 to $32.00 and set an “underweight” rating for the company in a report on Monday, January 23rd. Wells Fargo & Company downgraded Douglas Emmett from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 13th. Finally, Stifel Nicolaus raised Douglas Emmett from a “sell” rating to a “hold” rating and upped their target price for the company from $30.00 to $38.00 in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $37.38.
Douglas Emmett (NYSE:DEI) opened at 38.94 on Friday. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 70.29 and a beta of 0.76. Douglas Emmett has a 1-year low of $25.04 and a 1-year high of $39.25. The stock has a 50 day moving average price of $37.30 and a 200 day moving average price of $36.82.
The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were given a $0.23 dividend. This is a positive change from Douglas Emmett’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Wednesday, December 28th. Douglas Emmett’s dividend payout ratio is presently 164.29%.
In other Douglas Emmett news, Chairman Dan A. Emmett sold 100,000 shares of the company’s stock in a transaction dated Thursday, January 19th. The stock was sold at an average price of $37.16, for a total value of $3,716,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Dan A. Emmett sold 140,000 shares of the company’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $35.59, for a total value of $4,982,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 357,288 shares of company stock worth $13,026,527. Insiders own 23.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Elkfork Partners LLC purchased a new position in shares of Douglas Emmett during the fourth quarter valued at $219,000. FMR LLC increased its stake in Douglas Emmett by 2.4% in the fourth quarter. FMR LLC now owns 11,879,195 shares of the real estate investment trust’s stock valued at $434,304,000 after buying an additional 282,023 shares during the period. Dimensional Fund Advisors LP increased its stake in Douglas Emmett by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,921,818 shares of the real estate investment trust’s stock valued at $70,259,000 after buying an additional 30,167 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Douglas Emmett by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,312 shares of the real estate investment trust’s stock valued at $779,000 after buying an additional 89 shares during the period. Finally, Comerica Bank increased its stake in Douglas Emmett by 6.6% in the fourth quarter. Comerica Bank now owns 106,699 shares of the real estate investment trust’s stock valued at $3,940,000 after buying an additional 6,586 shares during the period. 99.21% of the stock is currently owned by institutional investors.
Douglas Emmett Company Profile
Douglas Emmett, Inc is a self-administered and self-managed real estate investment trust. The Company is owner and operator of office and multifamily properties located in submarkets in California and Hawaii. The Company operates in two segments: the acquisition, development, ownership and management of office real estate, and the acquisition, development, ownership and management of multifamily real estate.
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