Insider Selling: Dan Emmett Unloads 140,000 Shares of Douglas Emmett Stock (DEI)
Douglas Emmett (NYSE:DEI) Chairman Dan Emmett unloaded 140,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $23.96, for a total value of $3,354,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on DEI. Analysts at Cowen and Company cut their price target on shares of Douglas Emmett (NYSE:DEI) from $24.00 to $22.00 in a research note to investors on Thursday, September 12th. They now have a “market perform” rating on the stock.
One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $24.75.
Shares of Douglas Emmett (NYSE:DEI) traded down 1.51% on Friday, hitting $23.52. The stock had a trading volume of 1,878,280 shares. Douglas Emmett has a 1-year low of $21.55 and a 1-year high of $28.59. The stock has a 50-day moving average of $23.58 and a 200-day moving average of $25.12. The company has a market cap of $3.354 billion and a P/E ratio of 94.39.
Douglas Emmett (NYSE:DEI) last released its earnings data on Tuesday, August 6th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $148.70 million for the quarter, compared to the consensus estimate of $146.70 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts expect that Douglas Emmett will post $1.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, September 26th.
Douglas Emmett, Inc is a self-administered and self-managed Real Estate Investment Trust (NYSE:DEI).
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