Brokerages expect Douglas Emmett, Inc. (NYSE:DEI) to report earnings of $0.48 per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Douglas Emmett’s earnings. The lowest EPS estimate is $0.47 and the highest is $0.48. Douglas Emmett posted earnings of $0.46 per share in the same quarter last year, which would indicate a positive year over year growth rate of 4.3%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 1st.
On average, analysts expect that Douglas Emmett will report full year earnings of $1.91 per share for the current fiscal year, with EPS estimates ranging from $1.90 to $1.94. For the next year, analysts expect that the company will report earnings of $2.04 per share, with EPS estimates ranging from $2.01 to $2.07. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Douglas Emmett.
Douglas Emmett (NYSE:DEI) last issued its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.47. The firm had revenue of $170.35 million during the quarter, compared to the consensus estimate of $191.93 million. Douglas Emmett had a net margin of 11.97% and a return on equity of 3.06%.
DEI has been the subject of a number of research reports. Evercore ISI downgraded shares of Douglas Emmett from a “hold” rating to an “underperform” rating in a research report on Friday, March 3rd. J P Morgan Chase & Co upped their price target on shares of Douglas Emmett from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, April 3rd. Zacks Investment Research upgraded shares of Douglas Emmett from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Tuesday, April 11th. Barclays PLC upped their price target on shares of Douglas Emmett from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Wednesday, April 19th. Finally, DA Davidson cut shares of Douglas Emmett from a “buy” rating to a “neutral” rating and dropped their price target for the company from $45.00 to $43.00 in a research note on Thursday, May 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $39.15.
In other news, Chairman Dan A. Emmett sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $38.97, for a total value of $3,897,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 300,000 shares of company stock valued at $11,609,000. Corporate insiders own 23.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in shares of Douglas Emmett by 9.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 299 shares during the period. Envestnet Asset Management Inc. purchased a new position in shares of Douglas Emmett during the fourth quarter valued at about $149,000. Tyers Asset Management LLC purchased a new position in shares of Douglas Emmett during the fourth quarter valued at about $159,000. Pacad Investment Ltd. purchased a new position in shares of Douglas Emmett during the fourth quarter valued at about $201,000. Finally, A.R.T. Advisors LLC purchased a new position in shares of Douglas Emmett during the fourth quarter valued at about $204,000. 97.19% of the stock is owned by institutional investors and hedge funds.
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Shares of Douglas Emmett (DEI) traded down 0.77% during midday trading on Wednesday, reaching $38.64. 702,345 shares of the company’s stock traded hands. The firm has a market cap of $5.97 billion, a PE ratio of 67.20 and a beta of 0.73. Douglas Emmett has a 12 month low of $33.20 and a 12 month high of $40.79. The stock has a 50-day moving average price of $38.43 and a 200 day moving average price of $38.25.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.38%. Douglas Emmett’s dividend payout ratio is 158.62%.
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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