Bamco Inc. NY decreased its position in Douglas Emmett, Inc. (NYSE:DEI) by 0.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,070,548 shares of the real estate investment trust’s stock after selling 13,499 shares during the period. Douglas Emmett comprises 0.9% of Bamco Inc. NY’s investment portfolio, making the stock its 23rd biggest position. Bamco Inc. NY owned approximately 3.57% of Douglas Emmett worth $228,981,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Douglas Emmett by 2.6% in the third quarter. BlackRock Inc. now owns 19,613,474 shares of the real estate investment trust’s stock valued at $739,819,000 after buying an additional 504,234 shares in the last quarter. Cbre Clarion Securities LLC increased its holdings in Douglas Emmett by 226.1% in the second quarter. Cbre Clarion Securities LLC now owns 6,615,753 shares of the real estate investment trust’s stock valued at $265,821,000 after buying an additional 4,587,109 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Douglas Emmett by 15.6% in the third quarter. JPMorgan Chase & Co. now owns 4,221,607 shares of the real estate investment trust’s stock valued at $159,239,000 after buying an additional 569,703 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Douglas Emmett by 67.4% in the third quarter. Renaissance Technologies LLC now owns 3,524,900 shares of the real estate investment trust’s stock valued at $132,959,000 after buying an additional 1,419,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Douglas Emmett by 2.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,448,527 shares of the real estate investment trust’s stock valued at $92,355,000 after buying an additional 65,590 shares in the last quarter. 92.38% of the stock is owned by institutional investors.
DEI has been the topic of several research analyst reports. Bank of America dropped their target price on shares of Douglas Emmett from $44.00 to $42.50 and set a “buy” rating on the stock in a research report on Monday, September 10th. Barclays lifted their target price on shares of Douglas Emmett from $38.00 to $39.00 and gave the company an “underweight” rating in a research report on Thursday, August 30th. Scotiabank initiated coverage on shares of Douglas Emmett in a research report on Tuesday, October 16th. They issued an “outperform” rating on the stock. Zacks Investment Research lowered shares of Douglas Emmett from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Finally, Raymond James dropped their target price on shares of Douglas Emmett from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, November 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Douglas Emmett has an average rating of “Hold” and an average target price of $41.45.
Shares of NYSE DEI opened at $36.80 on Monday. The stock has a market capitalization of $6.25 billion, a PE ratio of 19.37, a P/E/G ratio of 2.75 and a beta of 0.62. Douglas Emmett, Inc. has a 52-week low of $34.72 and a 52-week high of $41.59. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 1.05.
Douglas Emmett (NYSE:DEI) last posted its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.33). The business had revenue of $223.30 million for the quarter, compared to analyst estimates of $222.50 million. Douglas Emmett had a return on equity of 3.06% and a net margin of 14.32%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Research analysts predict that Douglas Emmett, Inc. will post 2.02 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, December 28th. This is a positive change from Douglas Emmett’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 2.83%. Douglas Emmett’s payout ratio is presently 52.63%.
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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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