Shares of Douglas Emmett, Inc. (NYSE:DEI – Get Rating) have earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $28.29.

Several research analysts have recently issued reports on DEI shares. Evercore ISI set a $33.00 target price on shares of Douglas Emmett in a report on Monday, June 20th. Credit Suisse Group started coverage on shares of Douglas Emmett in a report on Wednesday, June 22nd. They issued an “outperform” rating and a $27.00 target price on the stock. JPMorgan Chase & Co. cut their target price on shares of Douglas Emmett from $38.00 to $32.00 in a report on Tuesday, June 7th. Piper Sandler cut their target price on shares of Douglas Emmett to $30.00 in a report on Monday, July 4th. Finally, Wells Fargo & Company cut their target price on shares of Douglas Emmett from $28.00 to $24.00 and set an “overweight” rating on the stock in a report on Tuesday, August 30th.

Douglas Emmett Trading Up 2.5 %

DEI stock opened at $18.55 on Friday. The company has a market capitalization of $3.26 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 1.67 and a beta of 0.95. Douglas Emmett has a one year low of $17.54 and a one year high of $36.97. The company’s 50 day moving average price is $20.80 and its two-hundred day moving average price is $25.04. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.04 and a current ratio of 3.04.

Douglas Emmett (NYSE:DEI – Get Rating) last posted its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. The firm had revenue of $247.00 million for the quarter, compared to the consensus estimate of $245.29 million. Douglas Emmett had a net margin of 9.78% and a return on equity of 2.14%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. As a group, analysts predict that Douglas Emmett will post 2.05 earnings per share for the current fiscal year.

Douglas Emmett Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Friday, September 30th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 6.04%. The ex-dividend date is Thursday, September 29th. Douglas Emmett’s dividend payout ratio (DPR) is currently 228.58%.

Insider Activity at Douglas Emmett

In related news, Director William E. Simon, Jr. purchased 13,200 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The shares were acquired at an average price of $18.73 per share, for a total transaction of $247,236.00. Following the completion of the acquisition, the director now directly owns 81,000 shares in the company, valued at approximately $1,517,130. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Douglas Emmett news, Director William E. Simon, Jr. bought 13,200 shares of the company’s stock in a transaction dated Wednesday, September 28th. The shares were purchased at an average price of $18.73 per share, for a total transaction of $247,236.00. Following the acquisition, the director now owns 81,000 shares in the company, valued at approximately $1,517,130. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Shirley Wang bought 284,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were acquired at an average price of $21.17 per share, for a total transaction of $6,012,280.00. Following the acquisition, the director now owns 284,000 shares in the company, valued at approximately $6,012,280. The disclosure for this purchase can be found here. Insiders have purchased a total of 345,950 shares of company stock worth $7,257,916 over the last quarter. Corporate insiders own 13.40% of the company’s stock.

Institutional Trading of Douglas Emmett

A number of hedge funds have recently modified their holdings of the business. Federated Hermes Inc. boosted its holdings in shares of Douglas Emmett by 1.4% during the 2nd quarter. Federated Hermes Inc. now owns 37,589 shares of the real estate investment trust’s stock valued at $841,000 after buying an additional 521 shares in the last quarter. Verition Fund Management LLC raised its position in shares of Douglas Emmett by 830.4% in the 2nd quarter. Verition Fund Management LLC now owns 66,976 shares of the real estate investment trust’s stock worth $1,499,000 after purchasing an additional 59,777 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Douglas Emmett in the 2nd quarter worth about $305,000. Legal & General Group Plc raised its position in shares of Douglas Emmett by 1.7% in the 2nd quarter. Legal & General Group Plc now owns 1,697,629 shares of the real estate investment trust’s stock worth $37,993,000 after purchasing an additional 28,701 shares during the last quarter. Finally, ExodusPoint Capital Management LP raised its position in shares of Douglas Emmett by 109.0% in the 2nd quarter. ExodusPoint Capital Management LP now owns 206,795 shares of the real estate investment trust’s stock worth $4,628,000 after purchasing an additional 107,856 shares during the last quarter. Institutional investors own 93.57% of the company’s stock.

 

By: NickPosted on Categories: MONEY