Millennium Management LLC lessened its stake in Douglas Emmett, Inc. (NYSE:DEI - Free Report) by 61.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 382,604 shares of the real estate investment trust's stock after selling 622,110 shares during the period. Millennium Management LLC owned about 0.23% of Douglas Emmett worth $5,092,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in DEI. Quarry LP acquired a new position in shares of Douglas Emmett in the fourth quarter worth $57,000. Goldman Sachs Group Inc. grew its stake in shares of Douglas Emmett by 20.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,037,437 shares of the real estate investment trust's stock worth $44,043,000 after acquiring an additional 525,831 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Douglas Emmett by 1.7% in the fourth quarter. Wellington Management Group LLP now owns 9,358,733 shares of the real estate investment trust's stock worth $135,702,000 after acquiring an additional 156,761 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Douglas Emmett by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 26,187,297 shares of the real estate investment trust's stock worth $379,716,000 after acquiring an additional 229,301 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Douglas Emmett in the fourth quarter worth $762,000. Institutional investors and hedge funds own 97.37% of the company's stock.
Douglas Emmett Stock Performance
DEI traded up $0.31 on Friday, reaching $17.64. The company had a trading volume of 789,837 shares, compared to its average volume of 1,668,898. Douglas Emmett, Inc. has a 1 year low of $10.76 and a 1 year high of $17.94. The stock has a market capitalization of $2.95 billion, a PE ratio of -56.90 and a beta of 1.11. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 1.47. The stock has a 50-day moving average price of $16.26 and a 200-day moving average price of $14.67.
Douglas Emmett (NYSE:DEI - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.37). Douglas Emmett had a negative net margin of 3.55% and a negative return on equity of 0.88%. The company had revenue of $245.80 million during the quarter, compared to analysts' expectations of $246.62 million. During the same period last year, the firm earned $0.48 earnings per share. Douglas Emmett's revenue was down 3.0% on a year-over-year basis. As a group, research analysts forecast that Douglas Emmett, Inc. will post 1.67 EPS for the current fiscal year.
Douglas Emmett Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be issued a $0.19 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.31%. Douglas Emmett's payout ratio is -245.16%.
Analysts Set New Price Targets
Several research firms have commented on DEI. Citigroup boosted their price target on shares of Douglas Emmett from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. lifted their price objective on shares of Douglas Emmett from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, September 9th. Wells Fargo & Company lifted their price objective on shares of Douglas Emmett from $15.00 to $17.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 11th. Piper Sandler lifted their price objective on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, August 12th. Finally, Evercore ISI lifted their price objective on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $16.29.
View Our Latest Report on Douglas Emmett
About Douglas Emmett
(
Free Report)
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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