Envestnet Asset Management Inc. Acquires 21,616 Shares of Douglas Emmett, Inc. (NYSE:DEI)

Key Points

• Envestnet Asset Management Inc. increased its stake in Douglas Emmett, Inc. by 48.5%, acquiring an additional 21,616 shares, bringing its total holdings to 66,217 shares valued at approximately $1.06 million.
• While Douglas Emmett stock has seen price target adjustments from various analysts, the consensus rating remains as a "Hold" with an average target price of $17.78.
• Douglas Emmett recently paid a quarterly dividend of $0.19 per share, translating to an annualized yield of 5.1%, despite a high payout ratio of 237.50%.

Envestnet Asset Management Inc. lifted its holdings in Douglas Emmett, Inc. (NYSE:DEI - Free Report) by 48.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,217 shares of the real estate investment trust's stock after acquiring an additional 21,616 shares during the period. Envestnet Asset Management Inc.'s holdings in Douglas Emmett were worth $1,059,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DEI. Principal Financial Group Inc. lifted its stake in shares of Douglas Emmett by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 833,426 shares of the real estate investment trust's stock valued at $13,335,000 after purchasing an additional 21,771 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Douglas Emmett by 130.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,684,597 shares of the real estate investment trust's stock valued at $49,826,000 after purchasing an additional 1,520,348 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Douglas Emmett by 42.5% in the 4th quarter. Bank of America Corp DE now owns 609,662 shares of the real estate investment trust's stock valued at $11,315,000 after purchasing an additional 181,909 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Douglas Emmett in the 1st quarter valued at approximately $392,000. Finally, KBC Group NV lifted its stake in shares of Douglas Emmett by 39.6% in the 1st quarter. KBC Group NV now owns 9,669 shares of the real estate investment trust's stock valued at $155,000 after purchasing an additional 2,743 shares during the last quarter. Institutional investors own 97.37% of the company's stock.

Wall Street Analysts Forecast Growth

DEI has been the subject of several analyst reports. BMO Capital Markets set a $17.00 price objective on Douglas Emmett and gave the company a "market perform" rating in a research note on Wednesday, July 16th. Wall Street Zen upgraded Douglas Emmett from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Scotiabank reduced their price target on Douglas Emmett from $21.00 to $19.00 and set a "sector outperform" rating on the stock in a report on Monday, July 14th. Wells Fargo & Company reduced their price target on Douglas Emmett from $20.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Finally, Piper Sandler reduced their price target on Douglas Emmett from $20.00 to $18.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Douglas Emmett presently has a consensus rating of "Hold" and an average target price of $17.78.

Douglas Emmett Stock Performance

Shares of DEI opened at $14.90 on Friday. The stock has a 50-day moving average of $15.15 and a two-hundred day moving average of $15.53. 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 quick ratio of 3.89 and a current ratio of 3.89. The stock has a market cap of $2.50 billion, a P/E ratio of 46.56 and a beta of 1.26.

Douglas Emmett (NYSE:DEI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. The company had revenue of $251.54 million during the quarter, compared to analysts' expectations of $246.49 million. Douglas Emmett had a return on equity of 1.48% and a net margin of 5.48%. The firm's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, research analysts predict that Douglas Emmett, Inc. will post 1.45 EPS for the current year.

Douglas Emmett Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.19 per share. The ex-dividend date was Monday, June 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.1%. 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.

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