Pendal Group Ltd grew its holdings in Douglas Emmett, Inc. (NYSE:DEI) by 8.3% during the 3rd quarter, Holdings Channel reports. The firm owned 42,900 shares of the real estate investment trust’s stock after acquiring an additional 3,300 shares during the quarter. Pendal Group Ltd’s holdings in Douglas Emmett were worth $1,618,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Qube Research & Technologies Ltd acquired a new stake in shares of Douglas Emmett in the second quarter valued at about $165,000. Natixis acquired a new stake in shares of Douglas Emmett in the second quarter valued at about $218,000. Cadence Capital Management LLC acquired a new stake in shares of Douglas Emmett in the second quarter valued at about $250,000. CIBC Asset Management Inc acquired a new stake in shares of Douglas Emmett in the second quarter valued at about $254,000. Finally, Signition LP acquired a new stake in shares of Douglas Emmett in the third quarter valued at about $266,000. 95.10% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on DEI shares. Zacks Investment Research downgraded Douglas Emmett from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Stifel Nicolaus raised their price target on Douglas Emmett from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. Citigroup raised their price target on Douglas Emmett from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, August 8th. Bank of America raised their price target on Douglas Emmett from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Finally, Barclays lifted their target price on Douglas Emmett from $38.00 to $39.00 and gave the stock an “underweight” rating in a research report on Thursday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $41.59.
DEI stock opened at $36.15 on Friday. Douglas Emmett, Inc. has a twelve month low of $34.72 and a twelve month high of $41.59. The stock has a market cap of $6.15 billion, a P/E ratio of 18.09, a PEG ratio of 2.66 and a beta of 0.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.30 and a current ratio of 1.96.
Douglas Emmett (NYSE:DEI) last released its earnings results on Thursday, November 1st. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.33). Douglas Emmett had a return on equity of 3.06% and a net margin of 14.32%. The firm had revenue of $223.30 million for the quarter, compared to analyst estimates of $222.50 million. During the same period last year, the business earned $0.48 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts predict that Douglas Emmett, Inc. will post 2.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 16th. Investors of record on Friday, September 28th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Thursday, September 27th. Douglas Emmett’s dividend payout ratio (DPR) is presently 52.63%.
About Douglas Emmett
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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