Renaissance Technologies LLC raised its position in shares of Douglas Emmett, Inc. (NYSE:DEI) by 67.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,524,900 shares of the real estate investment trust’s stock after buying an additional 1,419,100 shares during the period. Renaissance Technologies LLC owned about 2.07% of Douglas Emmett worth $132,959,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in DEI. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Douglas Emmett by 5.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 162,058 shares of the real estate investment trust’s stock valued at $6,511,000 after purchasing an additional 8,370 shares during the last quarter. Virginia Retirement Systems ET AL lifted its holdings in Douglas Emmett by 14.2% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 183,200 shares of the real estate investment trust’s stock worth $7,361,000 after buying an additional 22,800 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Douglas Emmett during the 2nd quarter worth approximately $1,732,000. Boston Partners lifted its holdings in Douglas Emmett by 2.6% during the 2nd quarter. Boston Partners now owns 4,450,250 shares of the real estate investment trust’s stock worth $178,811,000 after buying an additional 112,228 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Douglas Emmett by 6.5% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 103,788 shares of the real estate investment trust’s stock worth $4,170,000 after buying an additional 6,338 shares during the last quarter. 92.38% of the stock is owned by institutional investors and hedge funds.
Shares of Douglas Emmett stock opened at $36.80 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.96 and a current ratio of 1.96. The company has a market cap of $6.32 billion, a PE ratio of 18.60, a P/E/G ratio of 2.78 and a beta of 0.62. Douglas Emmett, Inc. has a twelve month low of $34.72 and a twelve month high of $41.59.
Douglas Emmett (NYSE:DEI) last announced its quarterly 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). The company had revenue of $223.30 million for the quarter, compared to analyst estimates of $222.50 million. Douglas Emmett had a return on equity of 3.06% and a net margin of 14.32%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 earnings per share. As a group, research analysts expect that Douglas Emmett, Inc. will post 2.02 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.83%. This is a boost from Douglas Emmett’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, December 28th. Douglas Emmett’s dividend payout ratio is presently 52.63%.
A number of research analysts have commented on DEI shares. Raymond James reduced their target price on Douglas Emmett from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, November 5th. Bank of America downgraded Douglas Emmett from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $42.50 to $41.00 in a report on Tuesday, November 13th. Barclays increased their target price on Douglas Emmett from $38.00 to $39.00 and gave the stock an “underweight” rating in a report on Thursday, August 30th. Sandler O’Neill raised Douglas Emmett from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Thursday, November 15th. Finally, Scotiabank started coverage on Douglas Emmett in a report on Tuesday, October 16th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.45.
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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