Douglas Emmett, Inc. (NYSE:DEI) – Analysts at KeyCorp lifted their FY2017 earnings estimates for Douglas Emmett in a research report issued to clients and investors on Wednesday. KeyCorp analyst C. Mailman now expects that the real estate investment trust will earn $1.92 per share for the year, up from their previous estimate of $1.91.
Douglas Emmett (NYSE:DEI) last issued its earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.47 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.47. Douglas Emmett had a return on equity of 3.06% and a net margin of 11.97%. The business had revenue of $170.35 million during the quarter, compared to analyst estimates of $191.93 million. COPYRIGHT VIOLATION WARNING: “Douglas Emmett, Inc. to Post FY2017 Earnings of $1.92 Per Share, KeyCorp Forecasts (NYSE:DEI)” was first posted by Markets Daily and is the property of of Markets Daily. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://www.themarketsdaily.com/2017/07/14/douglas-emmett-inc-to-post-fy2017-earnings-of-1-92-per-share-keycorp-forecasts-nysedei.html.
Several other equities research analysts also recently weighed in on DEI. BMO Capital Markets reissued a “hold” rating and issued a $39.00 price target on shares of Douglas Emmett in a report on Tuesday, July 4th. BidaskClub raised Douglas Emmett from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. J P Morgan Chase & Co raised their price objective on Douglas Emmett from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, April 3rd. Zacks Investment Research cut Douglas Emmett from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. Finally, DA Davidson cut Douglas Emmett from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $45.00 to $43.00 in a research note on Thursday, May 18th. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $39.88.
Shares of Douglas Emmett (DEI) traded up 0.80% during trading on Thursday, reaching $37.85. The company’s stock had a trading volume of 31,438 shares. The stock has a market capitalization of $5.85 billion, a PE ratio of 65.83 and a beta of 0.69. The firm’s 50-day moving average is $38.47 and its 200-day moving average is $38.27. Douglas Emmett has a 12-month low of $33.78 and a 12-month high of $40.79.
A number of hedge funds and other institutional investors have recently made changes to their positions in DEI. Vanguard Group Inc. raised its position in Douglas Emmett by 3.2% in the first quarter. Vanguard Group Inc. now owns 22,897,888 shares of the real estate investment trust’s stock worth $879,280,000 after buying an additional 718,419 shares during the period. BlackRock Inc. increased its stake in Douglas Emmett by 5,476.3% in 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 in the last quarter. Bank of New York Mellon Corp increased its stake in Douglas Emmett by 32.9% in the first quarter. Bank of New York Mellon Corp now owns 6,718,959 shares of the real estate investment trust’s stock valued at $258,007,000 after buying an additional 1,664,776 shares in the last quarter. State Street Corp increased its stake in Douglas Emmett by 1.8% in the first quarter. State Street Corp now owns 6,239,916 shares of the real estate investment trust’s stock valued at $239,609,000 after buying an additional 109,725 shares in the last quarter. Finally, Boston Partners increased its stake in Douglas Emmett by 12.8% in the first quarter. Boston Partners now owns 3,907,349 shares of the real estate investment trust’s stock valued at $150,042,000 after buying an additional 443,555 shares in the last quarter. Institutional investors own 97.05% of the company’s stock.
In related news, Chairman Dan A. Emmett sold 100,000 shares of Douglas Emmett stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $39.19, for a total transaction of $3,919,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 300,000 shares of company stock valued at $11,609,000. 23.00% of the stock is owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.45%. The ex-dividend date is Wednesday, June 28th. Douglas Emmett’s dividend payout ratio is currently 158.62%.
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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