Legal & General Group Plc boosted its stake in shares of Douglas Emmett, Inc. (NYSE:DEI) by 11.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,070,456 shares of the real estate investment trust’s stock after acquiring an additional 113,515 shares during the quarter. Legal & General Group Plc owned about 0.63% of Douglas Emmett worth $39,350,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of DEI. Millennium Management LLC boosted its position in shares of Douglas Emmett by 39.3% during the first quarter. Millennium Management LLC now owns 1,368,084 shares of the real estate investment trust’s stock valued at $50,291,000 after buying an additional 386,068 shares during the period. TLP Group LLC boosted its position in shares of Douglas Emmett by 38,558.3% during the first quarter. TLP Group LLC now owns 9,278 shares of the real estate investment trust’s stock valued at $341,000 after buying an additional 9,254 shares during the period. Verition Fund Management LLC boosted its position in shares of Douglas Emmett by 271.3% during the first quarter. Verition Fund Management LLC now owns 24,263 shares of the real estate investment trust’s stock valued at $892,000 after buying an additional 17,728 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in shares of Douglas Emmett by 27.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 237,514 shares of the real estate investment trust’s stock valued at $8,731,000 after buying an additional 51,454 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Douglas Emmett during the first quarter valued at approximately $834,000. 96.09% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on DEI shares. JPMorgan Chase & Co. dropped their target price on Douglas Emmett from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, March 23rd. Zacks Investment Research upgraded 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 Wednesday, June 6th. Mizuho upgraded Douglas Emmett from a “neutral” rating to a “buy” rating and boosted their target price for the company from $39.00 to $44.00 in a research report on Monday, June 18th. Finally, Barclays restated a “sell” rating and set a $37.00 target price on shares of Douglas Emmett in a research report on Tuesday, April 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.25.
In other Douglas Emmett news, Director William E. Simon, Jr. acquired 7,700 shares of Douglas Emmett stock in a transaction that occurred on Friday, June 1st. The stock was bought at an average price of $38.55 per share, with a total value of $296,835.00. Following the completion of the purchase, the director now directly owns 9,700 shares of the company’s stock, valued at approximately $373,935. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.80% of the stock is currently owned by insiders.
Shares of Douglas Emmett opened at $40.18 on Friday, according to MarketBeat Ratings. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $6.72 billion, a P/E ratio of 20.50, a PEG ratio of 2.93 and a beta of 0.67. Douglas Emmett, Inc. has a 52-week low of $34.72 and a 52-week high of $41.59.
Douglas Emmett (NYSE:DEI) last announced its quarterly earnings results on Tuesday, May 8th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The firm had revenue of $212.20 million during the quarter, compared to analyst estimates of $212.25 million. Douglas Emmett had a return on equity of 2.76% and a net margin of 12.86%. Douglas Emmett’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 earnings per share. analysts anticipate that Douglas Emmett, Inc. will post 2.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be issued a $0.25 dividend. The ex-dividend date is Thursday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.49%. Douglas Emmett’s payout ratio is 52.63%.
Douglas Emmett Company Profile
Douglas Emmett, Inc (DEI) is a fully integrated, self-administered and self-managed real estate investment trust (REIT), and one of the largest owners and operators of high-quality office and multifamily properties located in the premier coastal submarkets of Los Angeles and Honolulu. Douglas Emmett focuses on owning and acquiring a substantial share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive housing and key lifestyle amenities.
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