Millennium Management LLC decreased its holdings in Douglas Emmett, Inc. (NYSE:DEI) by 92.4% during the 2nd quarter, Holdings Channel reports. The firm owned 103,938 shares of the real estate investment trust’s stock after selling 1,264,146 shares during the quarter. Millennium Management LLC’s holdings in Douglas Emmett were worth $4,176,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of DEI. Cbre Clarion Securities LLC increased its stake in shares of Douglas Emmett by 226.1% in the 2nd quarter. Cbre Clarion Securities LLC now owns 6,615,753 shares of the real estate investment trust’s stock valued at $265,821,000 after purchasing an additional 4,587,109 shares during the last quarter. BlackRock Inc. increased its stake in shares of Douglas Emmett by 0.9% in the 2nd quarter. BlackRock Inc. now owns 19,109,240 shares of the real estate investment trust’s stock valued at $767,810,000 after purchasing an additional 176,454 shares during the last quarter. Heitman Real Estate Securities LLC increased its stake in shares of Douglas Emmett by 35.1% in the 2nd quarter. Heitman Real Estate Securities LLC now owns 504,762 shares of the real estate investment trust’s stock valued at $23,236,000 after purchasing an additional 131,039 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Douglas Emmett by 11.9% in the 1st quarter. Legal & General Group Plc now owns 1,070,456 shares of the real estate investment trust’s stock valued at $39,350,000 after purchasing an additional 113,515 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Douglas Emmett by 2.6% in the 2nd quarter. Boston Partners now owns 4,450,250 shares of the real estate investment trust’s stock valued at $178,811,000 after purchasing an additional 112,228 shares during the last quarter. Institutional investors own 95.36% of the company’s stock.
NYSE DEI opened at $36.77 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.30 and a current ratio of 2.30. Douglas Emmett, Inc. has a twelve month low of $34.72 and a twelve month high of $41.59. The firm has a market cap of $6.41 billion, a P/E ratio of 19.35, a PEG ratio of 2.77 and a beta of 0.60.
Douglas Emmett (NYSE:DEI) last released its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.31). Douglas Emmett had a net margin of 13.94% and a return on equity of 2.96%. The firm had revenue of $219.47 million for the quarter, compared to analyst estimates of $215.12 million. On average, analysts forecast that Douglas Emmett, Inc. will post 2.02 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 16th. Stockholders of record on Friday, September 28th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Thursday, September 27th. Douglas Emmett’s dividend payout ratio (DPR) is presently 52.63%.
Several equities research analysts recently weighed in on the company. Bank of America raised their price objective on Douglas Emmett from $42.00 to $44.00 and gave the company a “buy” rating in a report on Monday, August 13th. Stifel Nicolaus raised their price objective on Douglas Emmett from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Zacks Investment Research raised Douglas Emmett from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Wednesday, October 3rd. Scotiabank assumed coverage on Douglas Emmett in a report on Tuesday. They set an “outperform” rating on the stock. Finally, Barclays raised their price objective on Douglas Emmett from $38.00 to $39.00 and gave the company an “underweight” rating in a report on Thursday, August 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $41.55.
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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