Nisa Investment Advisors LLC boosted its position in shares of Douglas Emmett, Inc. (NYSE:DEI) by 36.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 84,181 shares of the real estate investment trust’s stock after buying an additional 22,607 shares during the period. Nisa Investment Advisors LLC’s holdings in Douglas Emmett were worth $2,581,000 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. First Trust Advisors LP boosted its stake in Douglas Emmett by 90.0% during the first quarter. First Trust Advisors LP now owns 57,674 shares of the real estate investment trust’s stock valued at $2,331,000 after buying an additional 27,327 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Douglas Emmett by 32.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 143,553 shares of the real estate investment trust’s stock valued at $5,802,000 after purchasing an additional 34,975 shares during the last quarter. Man Group plc purchased a new stake in shares of Douglas Emmett during the fourth quarter valued at $487,000. Alliancebernstein L.P. lifted its holdings in shares of Douglas Emmett by 5.3% during the fourth quarter. Alliancebernstein L.P. now owns 365,374 shares of the real estate investment trust’s stock valued at $16,040,000 after purchasing an additional 18,550 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Douglas Emmett during the fourth quarter valued at $63,731,000. 92.76% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on DEI shares. Wells Fargo & Co reduced their target price on Douglas Emmett from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, June 10th. Raymond James reduced their target price on Douglas Emmett from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Citigroup upped their target price on Douglas Emmett from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, May 28th. Jefferies Financial Group started coverage on Douglas Emmett in a report on Thursday, April 16th. They set a “buy” rating and a $36.00 target price for the company. Finally, Mizuho reduced their price objective on Douglas Emmett from $45.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, April 28th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $37.83.
Douglas Emmett (NYSE:DEI) last issued its earnings results on Thursday, May 7th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.40). Douglas Emmett had a return on equity of 8.75% and a net margin of 37.55%. The firm had revenue of $251.40 million during the quarter, compared to analyst estimates of $236.99 million. During the same period in the previous year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. As a group, research analysts expect that Douglas Emmett, Inc. will post 2.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Monday, June 29th. Douglas Emmett’s dividend payout ratio is 53.33%.
In related news, Director Christopher H. Anderson acquired 40,000 shares of the stock in a transaction dated Monday, June 1st. The shares were acquired at an average price of $30.32 per share, with a total value of $1,212,800.00. Following the acquisition, the director now owns 2,341,660 shares in the company, valued at approximately $70,999,131.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 15.90% of the company’s stock.
Douglas Emmett Company 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.
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