Numeric Investors LLC acquired a new stake in shares of Douglas Emmett, Inc. (NYSE:DEI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 29,500 shares of the real estate investment trust’s stock, valued at approximately $1,127,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in Douglas Emmett by 5,476.3% during the first quarter. BlackRock Inc. now owns 16,063,311 shares of the real estate investment trust’s stock valued at $616,831,000 after buying an additional 15,775,247 shares during the last quarter. FMR LLC increased its holdings in Douglas Emmett by 9.8% during the second quarter. FMR LLC now owns 11,749,721 shares of the real estate investment trust’s stock valued at $448,956,000 after buying an additional 1,049,842 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Douglas Emmett by 12.8% during the second quarter. Bank of New York Mellon Corp now owns 7,582,021 shares of the real estate investment trust’s stock valued at $289,711,000 after buying an additional 863,062 shares during the last quarter. American Century Companies Inc. purchased a new stake in Douglas Emmett during the second quarter valued at approximately $25,319,000. Finally, Renaissance Technologies LLC increased its holdings in Douglas Emmett by 272.9% during the second quarter. Renaissance Technologies LLC now owns 885,000 shares of the real estate investment trust’s stock valued at $33,816,000 after buying an additional 647,700 shares during the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.
In other news, Chairman Dan A. Emmett sold 100,000 shares of Douglas Emmett stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $38.99, for a total transaction of $3,899,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 300,000 shares of company stock valued at $11,492,000. Insiders own 17.80% of the company’s stock.
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Shares of Douglas Emmett, Inc. (DEI) opened at 40.21 on Wednesday. The stock has a 50 day moving average of $39.00 and a 200-day moving average of $38.49. Douglas Emmett, Inc. has a 52 week low of $33.78 and a 52 week high of $40.79. The stock has a market capitalization of $6.55 billion, a PE ratio of 68.74 and a beta of 0.70.
Douglas Emmett (NYSE:DEI) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). The firm had revenue of $199.60 million for the quarter, compared to analysts’ expectations of $198.60 million. Douglas Emmett had a net margin of 12.00% and a return on equity of 2.95%. Douglas Emmett’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. On average, equities research analysts expect that Douglas Emmett, Inc. will post $0.55 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Thursday, September 28th. Douglas Emmett’s dividend payout ratio (DPR) is 155.93%.
DEI has been the subject of a number of research reports. BidaskClub raised shares of Douglas Emmett from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. BMO Capital Markets reaffirmed a “hold” rating and set a $39.00 target price on shares of Douglas Emmett in a report on Tuesday, July 4th. Barclays PLC reduced their target price on shares of Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Tuesday, July 18th. Zacks Investment Research raised shares of Douglas Emmett from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Tuesday, July 18th. Finally, Stifel Nicolaus raised shares of Douglas Emmett from a “hold” rating to a “buy” rating and upped their target price for the company from $38.00 to $42.00 in a report on Wednesday, August 2nd. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. Douglas Emmett presently has an average rating of “Hold” and an average price target of $39.56.
About Douglas Emmett
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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