Quantinno Capital Management LP grew its stake in shares of Douglas Emmett, Inc. (NYSE:DEI – Free Report) by 52.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 377,327 shares of the real estate investment trust’s stock after purchasing an additional 129,785 shares during the quarter. Quantinno Capital Management LP’s holdings in Douglas Emmett were worth $3,554,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in shares of Douglas Emmett by 43.4% in the 1st quarter. Royal Bank of Canada now owns 29,746 shares of the real estate investment trust’s stock valued at $476,000 after acquiring an additional 9,007 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Douglas Emmett by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,105 shares of the real estate investment trust’s stock worth $1,538,000 after purchasing an additional 4,186 shares during the period. Empowered Funds LLC boosted its holdings in Douglas Emmett by 8.4% in the first quarter. Empowered Funds LLC now owns 24,086 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 1,864 shares during the period. Intech Investment Management LLC increased its stake in Douglas Emmett by 33.4% during the first quarter. Intech Investment Management LLC now owns 83,994 shares of the real estate investment trust’s stock valued at $1,344,000 after purchasing an additional 21,035 shares during the last quarter. Finally, Creative Planning increased its stake in Douglas Emmett by 6.7% during the second quarter. Creative Planning now owns 21,024 shares of the real estate investment trust’s stock valued at $316,000 after purchasing an additional 1,317 shares during the last quarter. Institutional investors own 97.37% of the company’s stock.
Douglas Emmett Price Performance
NYSE DEI opened at $11.69 on Friday. Douglas Emmett, Inc. has a 12 month low of $9.04 and a 12 month high of $16.99. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.60 and a quick ratio of 2.63. The firm has a market capitalization of $1.96 billion, a PE ratio of -77.89, a P/E/G ratio of 6.09 and a beta of 1.15. The company’s 50 day simple moving average is $12.05 and its 200 day simple moving average is $11.01.
Douglas Emmett Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend was Tuesday, June 30th. Douglas Emmett’s payout ratio is presently -506.67%.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on DEI. Scotiabank raised their target price on shares of Douglas Emmett from $12.00 to $13.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. Piper Sandler upped their target price on Douglas Emmett from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Weiss Ratings raised Douglas Emmett from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 23rd. Citigroup boosted their price objective on Douglas Emmett from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, Wells Fargo & Company upped their price objective on Douglas Emmett from $13.00 to $14.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.71.
About Douglas Emmett
Douglas Emmett, Inc is a publicly traded real estate investment trust headquartered in Santa Monica, California. The company specializes in the ownership, management and development of high‐quality office and multifamily properties, primarily concentrated in the coastal regions of Los Angeles County and the Greater Honolulu area. As a vertically integrated real estate platform, Douglas Emmett controls all aspects of property operations, leasing, capital improvements and tenant relations, positioning it to deliver stable, long‐term cash flows.
The company’s office portfolio consists predominantly of Class A buildings located in prime business districts, featuring modern amenities, campus-like settings and environmentally conscious design elements.
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