Thrivent Financial For Lutherans increased its position in Douglas Emmett, Inc. (NYSE:DEI) by 11.2% during the first quarter, Holdings Channel reports. The institutional investor owned 87,057 shares of the real estate investment trust’s stock after buying an additional 8,800 shares during the period. Thrivent Financial For Lutherans owned approximately 0.06% of Douglas Emmett worth $3,343,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Capstone Asset Management Co. boosted its position in Douglas Emmett by 3.1% in the first quarter. Capstone Asset Management Co. now owns 11,248 shares of the real estate investment trust’s stock worth $432,000 after buying an additional 340 shares in the last quarter. Clinton Group Inc. bought a new position in Douglas Emmett during the first quarter worth approximately $222,000. Norges Bank bought a new position in Douglas Emmett during the fourth quarter worth approximately $34,773,000. Janus Capital Management LLC boosted its position in Douglas Emmett by 40.2% in the fourth quarter. Janus Capital Management LLC now owns 153,400 shares of the real estate investment trust’s stock worth $5,608,000 after buying an additional 44,000 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in Douglas Emmett by 59.3% in the first quarter. Bank of Montreal Can now owns 204,989 shares of the real estate investment trust’s stock worth $7,872,000 after buying an additional 76,305 shares in the last quarter. 97.19% of the stock is owned by institutional investors and hedge funds.
Shares of Douglas Emmett, Inc. (DEI) opened at 38.50 on Friday. The stock has a market cap of $5.95 billion, a PE ratio of 66.96 and a beta of 0.73. The stock has a 50 day moving average of $38.43 and a 200-day moving average of $38.25. Douglas Emmett, Inc. has a 52 week low of $33.20 and a 52 week high of $40.79.
Douglas Emmett (NYSE:DEI) last announced its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. Douglas Emmett had a net margin of 11.97% and a return on equity of 3.06%. The company had revenue of $170.35 million for the quarter, compared to analysts’ expectations of $191.93 million. Equities research analysts predict that Douglas Emmett, Inc. will post $0.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Wednesday, June 28th. Douglas Emmett’s dividend payout ratio is presently 158.62%.
A number of equities analysts have commented on DEI shares. Evercore ISI cut shares of Douglas Emmett from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. J P Morgan Chase & Co boosted their price target on shares of Douglas Emmett from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, April 3rd. DA Davidson cut shares of Douglas Emmett from a “buy” rating to a “neutral” rating and cut their price target for the stock from $45.00 to $43.00 in a research note on Thursday, May 18th. Zacks Investment Research cut shares of Douglas Emmett from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. Finally, Barclays PLC boosted their price target on shares of Douglas Emmett from $35.00 to $36.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 19th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Douglas Emmett presently has an average rating of “Hold” and an average target price of $39.15.
In related news, Chairman Dan A. Emmett sold 100,000 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $37.93, for a total value of $3,793,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 300,000 shares of company stock worth $11,609,000 in the last 90 days. 23.00% of the stock is currently owned by company insiders.
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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