Renaissance Technologies LLC Reduces Stock Position in Douglas Emmett, Inc. (NYSE:DEI)

Renaissance Technologies LLC lessened its holdings in Douglas Emmett, Inc. (NYSE:DEI) by 38.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 742,687 shares of the real estate investment trust’s stock after selling 454,957 shares during the quarter. Renaissance Technologies LLC owned approximately 0.44% of Douglas Emmett worth $9,885,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Douglas Emmett by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 26,187,297 shares of the real estate investment trust’s stock worth $379,716,000 after buying an additional 229,301 shares during the period. Wellington Management Group LLP grew its holdings in Douglas Emmett by 1.7% during the 4th 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. Massachusetts Financial Services Co. MA increased its position in Douglas Emmett by 2.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,090,198 shares of the real estate investment trust’s stock valued at $107,681,000 after purchasing an additional 165,425 shares during the period. First Pacific Advisors LP raised its holdings in shares of Douglas Emmett by 10.5% in the 4th quarter. First Pacific Advisors LP now owns 5,546,488 shares of the real estate investment trust’s stock valued at $80,424,000 after purchasing an additional 527,036 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its position in shares of Douglas Emmett by 20.8% in the 1st quarter. Centersquare Investment Management LLC now owns 4,363,009 shares of the real estate investment trust’s stock worth $59,817,000 after purchasing an additional 751,419 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.

Analyst Upgrades and Downgrades

DEI has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Citigroup upped their price objective on Douglas Emmett from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Evercore ISI lifted their target price on Douglas Emmett from $15.00 to $16.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Wells Fargo & Company increased their price target on shares of Douglas Emmett from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, September 11th. Finally, Scotiabank lifted their price objective on shares of Douglas Emmett from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.88.

Douglas Emmett Stock Up 1.1 %

DEI stock opened at $17.43 on Tuesday. The stock has a market capitalization of $2.92 billion, a PE ratio of -56.21 and a beta of 1.10. Douglas Emmett, Inc. has a 52 week low of $10.76 and a 52 week high of $17.55. 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 firm has a 50 day moving average of $15.63 and a 200 day moving average of $14.29.

Douglas Emmett (NYSE:DEI) last posted its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $0.06 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.37). Douglas Emmett had a negative return on equity of 0.88% and a negative net margin of 3.55%. The company had revenue of $245.80 million for the quarter, compared to analyst estimates of $246.62 million. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The company’s quarterly revenue was down 3.0% on a year-over-year basis. Sell-side analysts forecast that Douglas Emmett, Inc. will post 1.67 earnings per share for the current year.

Douglas Emmett Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Monday, September 30th. Douglas Emmett’s payout ratio is -245.16%.

Douglas Emmett 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.