Massachusetts Financial Services Co. MA trimmed its holdings in Douglas Emmett, Inc. (NYSE:DEI - Free Report) by 38.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,925,176 shares of the real estate investment trust's stock after selling 3,018,635 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.94% of Douglas Emmett worth $78,803,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Edgestream Partners L.P. acquired a new position in shares of Douglas Emmett in the 1st quarter valued at $2,230,000. Envestnet Asset Management Inc. increased its holdings in shares of Douglas Emmett by 48.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 66,217 shares of the real estate investment trust's stock valued at $1,059,000 after acquiring an additional 21,616 shares during the period. Palisade Capital Management LP increased its holdings in shares of Douglas Emmett by 4.0% in the 1st quarter. Palisade Capital Management LP now owns 130,505 shares of the real estate investment trust's stock valued at $2,088,000 after acquiring an additional 4,993 shares during the period. Principal Financial Group Inc. increased its holdings 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 acquiring an additional 21,771 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in Douglas Emmett in the 1st quarter valued at $392,000. 97.37% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Scotiabank lowered their price objective on shares of Douglas Emmett from $21.00 to $19.00 and set a "sector outperform" rating on the stock in a research report on Monday. Piper Sandler cut their price objective 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. Wells Fargo & Company reduced their target price on Douglas Emmett from $20.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, May 19th. BMO Capital Markets set a $17.00 target price on shares of Douglas Emmett and gave the stock a "market perform" rating in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Douglas Emmett from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $17.78.
View Our Latest Analysis on Douglas Emmett
Douglas Emmett Price Performance
NYSE DEI traded down $0.25 during trading hours on Friday, reaching $15.44. The company's stock had a trading volume of 1,142,077 shares, compared to its average volume of 1,780,677. The stock has a market cap of $2.59 billion, a PE ratio of 48.25 and a beta of 1.23. Douglas Emmett, Inc. has a fifty-two week low of $12.39 and a fifty-two week high of $20.50. The company's 50-day moving average is $14.96 and its two-hundred day moving average is $15.71. The company has a debt-to-equity ratio of 1.54, a quick ratio of 3.89 and a current ratio of 3.89.
Douglas Emmett (NYSE:DEI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.01. The firm 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 firm's revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 EPS. Analysts forecast that Douglas Emmett, Inc. will post 1.45 EPS for the current year.
Douglas Emmett Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend was Monday, June 30th. Douglas Emmett's payout ratio is 237.50%.
About Douglas Emmett
(
Free Report)
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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