Centersquare Investment Management LLC Decreases Stock Position in Douglas Emmett, Inc. (NYSE:DEI)

Key Points

• Centersquare Investment Management LLC reduced its stake in Douglas Emmett, Inc. by 95.8%, selling 1,202,020 shares and bringing its holdings down to 53,000 shares valued at $848,000.
• Douglas Emmett recently announced a quarterly dividend of $0.19 per share, representing a 5.0% dividend yield with a payout ratio of 237.50%.
• The stock is currently rated "Hold" by analysts with a consensus price target of $17.78, while the stock price has fluctuated between $12.39 and $20.50 over the past year.

Centersquare Investment Management LLC lowered its position in Douglas Emmett, Inc. (NYSE:DEI - Free Report) by 95.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 53,000 shares of the real estate investment trust's stock after selling 1,202,020 shares during the period. Centersquare Investment Management LLC's holdings in Douglas Emmett were worth $848,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DEI. Resona Asset Management Co. Ltd. bought a new position in Douglas Emmett in the fourth quarter worth approximately $1,234,000. Wells Fargo & Company MN boosted its holdings in Douglas Emmett by 7.5% in the fourth quarter. Wells Fargo & Company MN now owns 164,944 shares of the real estate investment trust's stock worth $3,061,000 after acquiring an additional 11,556 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Douglas Emmett by 70.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 44,601 shares of the real estate investment trust's stock worth $828,000 after acquiring an additional 18,440 shares in the last quarter. FMR LLC boosted its holdings in Douglas Emmett by 59.6% in the fourth quarter. FMR LLC now owns 7,794,304 shares of the real estate investment trust's stock worth $144,662,000 after acquiring an additional 2,910,490 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in Douglas Emmett by 7.3% in the fourth quarter. Bank of Montreal Can now owns 32,037 shares of the real estate investment trust's stock worth $595,000 after acquiring an additional 2,177 shares in the last quarter. Institutional investors own 97.37% of the company's stock.

Douglas Emmett Stock Performance

Shares of DEI traded down $0.13 on Friday, reaching $14.40. 1,624,498 shares of the company's stock traded hands, compared to its average volume of 1,561,917. The company has a current ratio of 3.49, a quick ratio of 3.89 and a debt-to-equity ratio of 1.55. The stock has a market cap of $2.41 billion, a PE ratio of 65.43 and a beta of 1.26. The stock's 50 day simple moving average is $15.19 and its two-hundred day simple moving average is $15.45. Douglas Emmett, Inc. has a 52-week low of $12.39 and a 52-week high of $20.50.

Douglas Emmett (NYSE:DEI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.37 EPS for the quarter, meeting analysts' consensus estimates of $0.37. The company had revenue of $252.43 million during the quarter, compared to the consensus estimate of $250.98 million. Douglas Emmett had a return on equity of 1.04% and a net margin of 3.77%. Douglas Emmett's revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $0.46 earnings per share. On average, analysts forecast that Douglas Emmett, Inc. will post 1.45 earnings per share for the current fiscal year.

Douglas Emmett Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend was Monday, June 30th. Douglas Emmett's dividend payout ratio (DPR) is currently 345.45%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Scotiabank lowered their price objective on Douglas Emmett from $21.00 to $19.00 and set a "sector outperform" rating for the company in a research note on Monday, July 14th. Wells Fargo & Company lowered their price objective on Douglas Emmett from $20.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Wall Street Zen downgraded Douglas Emmett from a "hold" rating to a "sell" rating in a research note on Saturday. BMO Capital Markets set a $17.00 price objective on Douglas Emmett and gave the stock a "market perform" rating in a research note on Wednesday, July 16th. Finally, Piper Sandler lowered their price objective on Douglas Emmett from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Douglas Emmett has an average rating of "Hold" and an average price target of $17.78.

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.