Douglas Emmett, Inc. (NYSE:DEI) Chairman Sells $3,797,000.00 in Stock
Douglas Emmett, Inc. (NYSE:DEI) Chairman Dan A. Emmett sold 100,000 shares of Douglas Emmett stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $37.97, for a total transaction of $3,797,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of Douglas Emmett, Inc. (NYSE:DEI) traded up 0.19% on Monday, hitting $37.90. 839,735 shares of the company traded hands. Douglas Emmett, Inc. has a 1-year low of $33.78 and a 1-year high of $40.79. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 65.91 and a beta of 0.69. The firm’s 50 day moving average price is $38.30 and its 200-day moving average price is $38.40.
Douglas Emmett (NYSE:DEI) last posted its earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates 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 return on equity of 3.06% and a net margin of 11.97%. On average, equities research analysts expect that Douglas Emmett, Inc. will post $0.54 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.43%. Douglas Emmett’s dividend payout ratio is currently 158.62%.
Several equities research analysts have issued reports on DEI shares. DA Davidson lowered shares of Douglas Emmett from a “buy” rating to a “neutral” rating and dropped their target price for the company from $45.00 to $43.00 in a research report on Thursday, May 18th. Barclays PLC dropped their target price on shares of Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating for the company in a research report on Tuesday, July 18th. Zacks Investment Research upgraded shares of Douglas Emmett from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Tuesday, July 18th. J P Morgan Chase & Co boosted their price objective on shares of Douglas Emmett from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, April 3rd. Finally, BMO Capital Markets restated a “hold” rating and issued a $39.00 price objective on shares of Douglas Emmett in a report on Tuesday, July 4th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $39.11.
A number of hedge funds have recently modified their holdings of DEI. PNC Financial Services Group Inc. increased its stake 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 worth $139,000 after buying an additional 299 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Douglas Emmett during the fourth quarter worth about $149,000. Tyers Asset Management LLC increased its stake in shares of Douglas Emmett by 23.5% in the first quarter. Tyers Asset Management LLC now owns 5,376 shares of the real estate investment trust’s stock worth $206,000 after buying an additional 1,024 shares in the last quarter. Clinton Group Inc. bought a new stake in shares of Douglas Emmett during the first quarter worth about $222,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Douglas Emmett during the second quarter worth about $260,000. Institutional investors own 97.30% of the company’s stock.
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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