Bank of Montreal Can trimmed its position in Douglas Emmett, Inc. (NYSE:DEI) by 5.1% during the third quarter, Holdings Channel reports. The institutional investor owned 193,461 shares of the real estate investment trust’s stock after selling 10,469 shares during the period. Bank of Montreal Can’s holdings in Douglas Emmett were worth $7,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently bought and sold shares of the company. Qube Research & Technologies Ltd acquired a new stake in Douglas Emmett in the second quarter valued at $165,000. Natixis acquired a new stake in Douglas Emmett in the second quarter valued at $218,000. Cadence Capital Management LLC acquired a new stake in Douglas Emmett in the second quarter valued at $250,000. CIBC Asset Management Inc acquired a new stake in Douglas Emmett in the second quarter valued at $254,000. Finally, Massey Quick Simon & CO. LLC lifted its holdings in Douglas Emmett by 142.5% in the second quarter. Massey Quick Simon & CO. LLC now owns 9,700 shares of the real estate investment trust’s stock valued at $389,000 after acquiring an additional 5,700 shares during the period. Hedge funds and other institutional investors own 95.26% of the company’s stock.
A number of research firms have commented on DEI. Zacks Investment Research downgraded Douglas Emmett from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Citigroup raised their target price on Douglas Emmett from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, August 8th. Scotiabank began coverage on Douglas Emmett in a report on Tuesday, October 16th. They issued an “outperform” rating for the company. Stifel Nicolaus raised their target price on Douglas Emmett from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Finally, Bank of America reduced their target price on Douglas Emmett from $44.00 to $42.50 and set a “buy” rating for the company in a report on Monday, September 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Douglas Emmett has a consensus rating of “Hold” and a consensus price target of $41.55.
Douglas Emmett (NYSE:DEI) last released its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.31). The firm had revenue of $219.47 million for the quarter, compared to analyst estimates of $215.12 million. Douglas Emmett had a return on equity of 2.96% and a net margin of 13.94%. On average, analysts expect that Douglas Emmett, Inc. will post 2.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 16th. Stockholders of record on Friday, September 28th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.76%. The ex-dividend date 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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