Convergence Investment Partners LLC Buys New Stake in Douglas Emmett, Inc. (NYSE:DEI)

Convergence Investment Partners LLC purchased a new stake in Douglas Emmett, Inc. (NYSE:DEI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,167 shares of the real estate investment trust's stock, valued at approximately $675,000.

Other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in Douglas Emmett by 203.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,927 shares of the real estate investment trust's stock worth $54,000 after acquiring an additional 1,964 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Douglas Emmett in the fourth quarter worth about $56,000. Sterling Capital Management LLC boosted its position in shares of Douglas Emmett by 808.8% in the fourth quarter. Sterling Capital Management LLC now owns 5,089 shares of the real estate investment trust's stock valued at $94,000 after acquiring an additional 4,529 shares during the period. FIL Ltd boosted its position in shares of Douglas Emmett by 19.0% in the fourth quarter. FIL Ltd now owns 5,546 shares of the real estate investment trust's stock valued at $103,000 after acquiring an additional 884 shares during the period. Finally, Quantbot Technologies LP boosted its position in shares of Douglas Emmett by 89.6% in the fourth quarter. Quantbot Technologies LP now owns 9,429 shares of the real estate investment trust's stock valued at $175,000 after acquiring an additional 4,455 shares during the period. 97.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on DEI. Piper Sandler cut their price objective on shares of Douglas Emmett from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Wall Street Zen upgraded shares of Douglas Emmett from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Scotiabank dropped their target price on shares of Douglas Emmett from $21.00 to $19.00 and set a "sector outperform" rating for the company in a research report on Monday, July 14th. BMO Capital Markets set a $17.00 target price on shares of Douglas Emmett and gave the company a "market perform" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company dropped their target price on shares of Douglas Emmett from $20.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $17.78.

Douglas Emmett Stock Up 0.4%

Douglas Emmett stock traded up $0.06 during mid-day trading on Friday, reaching $15.56. The stock had a trading volume of 705,944 shares, compared to its average volume of 1,419,617. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 48.61 and a beta of 1.23. The company has a 50-day moving average price of $15.06 and a two-hundred day moving average price of $15.59. Douglas Emmett, Inc. has a one year low of $12.39 and a one year high of $20.50. The company has a debt-to-equity ratio of 1.54, a current ratio of 3.89 and a quick ratio of 3.89.

Douglas Emmett (NYSE:DEI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. The business had revenue of $251.54 million for the quarter, compared to analysts' expectations of $246.49 million. Douglas Emmett had a net margin of 5.48% and a return on equity of 1.48%. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. On average, analysts expect that Douglas Emmett, Inc. will post 1.45 EPS for the current fiscal year.

Douglas Emmett Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 4.89%. The ex-dividend date was Monday, June 30th. Douglas Emmett's dividend payout ratio (DPR) is presently 237.50%.

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.