Sowell Financial Services LLC lifted its holdings in Douglas Emmett, Inc. (NYSE:DEI – Get Rating) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,995 shares of the real estate investment trust’s stock after buying an additional 2,432 shares during the period. Sowell Financial Services LLC’s holdings in Douglas Emmett were worth $1,892,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in Douglas Emmett by 82.4% in the 4th quarter. Fifth Third Bancorp now owns 748 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 338 shares during the period. Allworth Financial LP lifted its position in shares of Douglas Emmett by 132.3% in the 4th quarter. Allworth Financial LP now owns 950 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 541 shares during the period. AGF Investments Inc. purchased a new stake in shares of Douglas Emmett in the 3rd quarter worth approximately $183,000. CIBC Asset Management Inc purchased a new stake in shares of Douglas Emmett in the 3rd quarter worth approximately $202,000. Finally, Inspire Investing LLC purchased a new stake in shares of Douglas Emmett in the 3rd quarter worth approximately $227,000. 97.71% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on DEI. StockNews.com began coverage on shares of Douglas Emmett in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Evercore ISI upgraded shares of Douglas Emmett from an “in-line” rating to an “outperform” rating and set a $37.00 price objective for the company in a research note on Thursday, March 3rd. Raymond James upgraded shares of Douglas Emmett from a “market perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a research note on Monday, January 10th. Finally, Zacks Investment Research lowered shares of Douglas Emmett from a “buy” rating to a “hold” rating in a research note on Monday, January 17th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $39.67.
Douglas Emmett (NYSE:DEI – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.36). The company had revenue of $238.88 million for the quarter, compared to analyst estimates of $240.76 million. Douglas Emmett had a net margin of 7.38% and a return on equity of 1.64%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. On average, sell-side analysts predict that Douglas Emmett, Inc. will post 2.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 19th. Stockholders of record on Thursday, March 31st were paid a $0.28 dividend. The ex-dividend date was Wednesday, March 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.70%. Douglas Emmett’s payout ratio is currently 254.55%.
About Douglas Emmett (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Douglas Emmett (DEI)
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