Citigroup Inc. lifted its position in shares of Douglas Emmett, Inc. (NYSE:DEI) by 23.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 298,280 shares of the real estate investment trust’s stock after purchasing an additional 56,400 shares during the quarter. Citigroup Inc.’s holdings in Douglas Emmett were worth $10,028,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Rafferty Asset Management LLC increased its position in shares of Douglas Emmett by 52.1% during the second quarter. Rafferty Asset Management LLC now owns 14,040 shares of the real estate investment trust’s stock worth $472,000 after buying an additional 4,810 shares during the period. Duff & Phelps Investment Management Co. increased its position in shares of Douglas Emmett by 6.3% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,561,515 shares of the real estate investment trust’s stock worth $52,498,000 after buying an additional 92,553 shares during the period. Teza Capital Management LLC acquired a new stake in shares of Douglas Emmett during the second quarter worth $245,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Douglas Emmett by 7.2% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 61,336 shares of the real estate investment trust’s stock worth $2,062,000 after buying an additional 4,118 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Douglas Emmett by 15.8% in the second quarter. PNC Financial Services Group Inc. now owns 5,904 shares of the real estate investment trust’s stock worth $200,000 after purchasing an additional 804 shares during the period. Institutional investors own 92.97% of the company’s stock.
DEI has been the subject of a number of research reports. Piper Sandler raised their price target on shares of Douglas Emmett from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, September 1st. Mizuho upgraded shares of Douglas Emmett from a “neutral” rating to a “buy” rating and raised their price target for the stock from $32.00 to $40.00 in a report on Thursday, June 3rd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $34.33.
Douglas Emmett (NYSE:DEI) last released its quarterly earnings data on Tuesday, August 3rd. The real estate investment trust reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Douglas Emmett had a net margin of 5.83% and a return on equity of 1.23%. On average, research analysts forecast that Douglas Emmett, Inc. will post 1.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Wednesday, September 29th. Douglas Emmett’s dividend payout ratio (DPR) is 61.54%.
Douglas Emmett Company Profile
Douglas Emmett, Inc is a real estate investment trust, which engages in the acquisition, development, ownership, and management of real estate properties. It operates through the following segments: Office, and Multifamily. The Office segment comprises rental of office space and other tenant services, including parking and storage space rental.
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