Insider Selling: Douglas Emmett Chairman Sells 140,000 Shares of Stock (DEI)
Douglas Emmett (NYSE:DEI) Chairman Dan A. Emmett unloaded 140,000 shares of the stock on the open market in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $28.52, for a total transaction of $3,992,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Douglas Emmett (NYSE:DEI) remained flat at $28.60 during during mid-day trading trading on Monday. 530,533 shares of the company’s stock traded hands. Douglas Emmett has a one year low of $22.27 and a one year high of $29.37. The stock has a 50-day moving average of $28.2 and a 200-day moving average of $26.36. The company has a market cap of $4.109 billion and a price-to-earnings ratio of 90.51.
Douglas Emmett (NYSE:DEI) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.40 EPS for the quarter, beating the analysts’ consensus estimate of $0.39 by $0.01. The company had revenue of $148.90 million for the quarter, compared to the consensus estimate of $149.61 million. During the same quarter last year, the company posted $0.37 earnings per share. Douglas Emmett’s revenue was up 2.3% compared to the same quarter last year. Analysts expect that Douglas Emmett will post $1.60 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, June 26th.
A number of analysts have recently weighed in on DEI shares. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Douglas Emmett in a research note on Thursday, May 29th. They now have a $30.00 price target on the stock, up previously from $28.00. Separately, analysts at Wells Fargo & Co. downgraded shares of Douglas Emmett from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 13th. Finally, analysts at KeyCorp raised their price target on shares of Douglas Emmett from $29.00 to $30.00 in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $27.57.
Douglas Emmett, Inc is a self-administered and self-managed Real Estate Investment Trust (NYSE:DEI).
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