Nomura Asset Management Co. Ltd. decreased its holdings in shares of Douglas Emmett, Inc. (NYSE:DEI) by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 88,850 shares of the real estate investment trust’s stock after selling 8,020 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.05% of Douglas Emmett worth $3,502,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in DEI. FMR LLC boosted its stake in shares of 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 worth $448,956,000 after buying an additional 1,049,842 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of 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 worth $289,711,000 after buying an additional 863,062 shares during the period. Balyasny Asset Management LLC boosted its stake in shares of Douglas Emmett by 476.6% during the second quarter. Balyasny Asset Management LLC now owns 835,184 shares of the real estate investment trust’s stock worth $31,912,000 after buying an additional 690,349 shares during the period. American Century Companies Inc. acquired a new stake in shares of Douglas Emmett during the second quarter worth about $25,319,000. Finally, Renaissance Technologies LLC boosted its stake in shares of 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 worth $33,816,000 after buying an additional 647,700 shares during the period. Institutional investors and hedge funds own 96.51% of the company’s stock.
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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.80% of the stock is currently owned by company insiders.
Douglas Emmett (NYSE:DEI) last announced its quarterly earnings data on Tuesday, November 7th. The real estate investment trust reported $0.48 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.48. Douglas Emmett had a net margin of 11.29% and a return on equity of 2.58%. The firm had revenue of $208.75 million during the quarter, compared to the consensus estimate of $203.99 million. During the same quarter last year, the firm earned $0.47 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. research analysts forecast that Douglas Emmett, Inc. will post 1.9 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.46%. This is an increase from Douglas Emmett’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, December 28th. Douglas Emmett’s dividend payout ratio (DPR) is presently 173.59%.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Douglas Emmett from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. TheStreet upgraded shares of Douglas Emmett from a “c+” rating to a “b-” rating in a research report on Wednesday, November 15th. Robert W. Baird raised their price objective on shares of Douglas Emmett from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. Stifel Nicolaus restated a “buy” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Douglas Emmett in a research report on Thursday, November 9th. Finally, Mizuho restated a “hold” rating and issued a $41.00 price objective on shares of Douglas Emmett in a research report on Friday, October 27th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Douglas Emmett currently has an average rating of “Hold” and an average target price of $40.67.
Douglas Emmett 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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