Envestnet Asset Management Inc. Purchases 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. increased its holdings in shares of Douglas Emmett, Inc. (NYSE:DEI - Free Report) by 48.5% during the first quarter, according to its most recent Form 13F filing with the Securities and 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 quarter. Envestnet Asset Management Inc.'s holdings in Douglas Emmett were worth $1,059,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. increased its position in Douglas Emmett by 2.7% in the first quarter. Principal Financial Group Inc. now owns 833,426 shares of the real estate investment trust's stock worth $13,335,000 after buying an additional 21,771 shares during the last quarter. JPMorgan Chase & Co. increased its position in Douglas Emmett by 130.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,684,597 shares of the real estate investment trust's stock worth $49,826,000 after buying an additional 1,520,348 shares during the last quarter. Bank of America Corp DE increased its position in Douglas Emmett by 42.5% in the fourth quarter. Bank of America Corp DE now owns 609,662 shares of the real estate investment trust's stock worth $11,315,000 after buying an additional 181,909 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Douglas Emmett in the first quarter worth $392,000. Finally, KBC Group NV increased its position in Douglas Emmett by 39.6% in the first quarter. KBC Group NV now owns 9,669 shares of the real estate investment trust's stock worth $155,000 after buying an additional 2,743 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BMO Capital Markets set a $17.00 price target on Douglas Emmett and gave the company a "market perform" rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded Douglas Emmett from a "sell" rating to a "hold" rating in a research 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 for the company in a research 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 for the company in a research report on Monday, May 19th. Finally, Piper Sandler reduced their target price on Douglas Emmett from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $17.78.

Douglas Emmett Price Performance

Shares of DEI traded down $0.38 during midday trading on Wednesday, reaching $14.74. The stock had a trading volume of 1,215,612 shares, compared to its average volume of 1,939,226. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 46.10 and a beta of 1.26. Douglas Emmett, Inc. has a 12-month low of $12.39 and a 12-month high of $20.50. The company's 50-day moving average is $15.18 and its 200 day moving average is $15.50. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 1.54.

Douglas Emmett (NYSE:DEI - Get Free Report) last issued its earnings results on Tuesday, August 5th. The real estate investment trust reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The company had revenue of $252.43 million during the quarter, compared to analysts' expectations of $250.98 million. Douglas Emmett had a return on equity of 1.48% and a net margin of 5.48%. Douglas Emmett's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 EPS. On average, equities analysts predict that Douglas Emmett, Inc. will post 1.45 EPS for the current fiscal year.

Douglas Emmett Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.19 per share. The ex-dividend date was Monday, June 30th. This represents a $0.76 annualized dividend and a yield of 5.2%. Douglas Emmett's dividend payout ratio is currently 237.50%.

Douglas Emmett 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.