Daiwa Securities Group Inc. Increases Stock Holdings in Douglas Emmett, Inc. (NYSE:DEI)

Posted by Defense World Staff on Jul 29th, 2023

Daiwa Securities Group Inc. lifted its position in Douglas Emmett, Inc. (NYSE:DEI – Free Report) by 11.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,419 shares of the real estate investment trust’s stock after purchasing an additional 6,060 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Douglas Emmett were worth $733,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Douglas Emmett by 0.5% in the third quarter. Vanguard Group Inc. now owns 25,142,146 shares of the real estate investment trust’s stock valued at $450,799,000 after purchasing an additional 135,881 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of Douglas Emmett by 3.3% in the fourth quarter. First Eagle Investment Management LLC now owns 12,416,793 shares of the real estate investment trust’s stock valued at $194,695,000 after purchasing an additional 399,783 shares during the period. State Street Corp grew its holdings in shares of Douglas Emmett by 13.1% in the first quarter. State Street Corp now owns 9,474,627 shares of the real estate investment trust’s stock valued at $319,244,000 after purchasing an additional 1,095,717 shares during the period. Norges Bank purchased a new stake in shares of Douglas Emmett in the fourth quarter valued at about $114,497,000. Finally, Wellington Management Group LLP boosted its stake in Douglas Emmett by 12.5% during the first quarter. Wellington Management Group LLP now owns 6,844,166 shares of the real estate investment trust’s stock worth $228,732,000 after buying an additional 759,320 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Insider Buying and Selling

In other news, Director William E. Simon, Jr. bought 10,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was purchased at an average price of $12.42 per share, for a total transaction of $124,200.00. Following the completion of the purchase, the director now owns 91,000 shares in the company, valued at approximately $1,130,220. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 14.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DEI shares. StockNews.com lowered shares of Douglas Emmett from a “hold” rating to a “sell” rating in a research note on Thursday. Piper Sandler raised shares of Douglas Emmett from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $13.00 to $15.00 in a research note on Wednesday, April 5th. JPMorgan Chase & Co. lowered their target price on shares of Douglas Emmett from $20.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, April 10th. Finally, TheStreet lowered shares of Douglas Emmett from a “c” rating to a “d+” rating in a research note on Tuesday, May 2nd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Douglas Emmett has an average rating of “Hold” and a consensus target price of $15.78.

Douglas Emmett Trading Up 3.0 %

NYSE DEI opened at $14.39 on Friday. The stock has a market capitalization of $2.44 billion, a PE ratio of 28.21 and a beta of 0.96. The firm has a 50 day moving average of $12.74 and a two-hundred day moving average of $13.29. Douglas Emmett, Inc. has a 52 week low of $10.09 and a 52 week high of $23.85. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 1.24.

Douglas Emmett Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Investors of record on Friday, June 30th were paid a dividend of $0.19 per share. The ex-dividend date was Thursday, June 29th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.28%. Douglas Emmett’s payout ratio is currently 149.02%.

Douglas Emmett Profile

(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.