American International Group Inc. reduced its position in shares of Douglas Emmett, Inc. (NYSE:DEI) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 319,105 shares of the real estate investment trust’s stock after selling 10,903 shares during the quarter. American International Group Inc. owned about 0.19% of Douglas Emmett worth $11,730,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of DEI. Tower Research Capital LLC TRC boosted its stake in Douglas Emmett by 514.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,641 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 2,211 shares in the last quarter. Massey Quick Simon & CO. LLC acquired a new stake in shares of Douglas Emmett during the 1st quarter valued at $147,000. Advisors Preferred LLC acquired a new stake in shares of Douglas Emmett during the 4th quarter valued at $165,000. Vident Investment Advisory LLC acquired a new stake in shares of Douglas Emmett during the 4th quarter valued at $215,000. Finally, Lourd Capital LLC acquired a new stake in shares of Douglas Emmett during the 4th quarter valued at $312,000. 97.70% of the stock is owned by hedge funds and other institutional investors.
DEI has been the subject of a number of recent research reports. Sandler O’Neill reiterated a “hold” rating and set a $42.00 price objective on shares of Douglas Emmett in a research report on Tuesday, January 23rd. Barclays increased their price objective on Douglas Emmett from $37.00 to $38.00 and gave the company an “underweight” rating in a research report on Friday, March 16th. BMO Capital Markets set a $38.00 price objective on Douglas Emmett and gave the company a “hold” rating in a research report on Tuesday, February 27th. Zacks Investment Research upgraded Douglas Emmett from a “sell” rating to a “hold” rating in a research report on Tuesday, March 20th. Finally, JPMorgan Chase cut their price objective 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $41.11.
Douglas Emmett (NYSE:DEI) last released its earnings results on Tuesday, May 8th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.17. The company 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%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 earnings per share. sell-side analysts anticipate that Douglas Emmett, Inc. will post 2 EPS for the current fiscal year.
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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