The Manufacturers Life Insurance Company Acquires 3,183 Shares of Douglas Emmett, Inc. (NYSE:DEI)

The Manufacturers Life Insurance Company raised its holdings in shares of Douglas Emmett, Inc. (NYSE:DEI) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,554 shares of the real estate investment trust’s stock after purchasing an additional 3,183 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Douglas Emmett worth $1,219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DEI. Centersquare Investment Management LLC raised its position in Douglas Emmett by 20.8% during the 1st quarter. Centersquare Investment Management LLC now owns 4,363,009 shares of the real estate investment trust’s stock valued at $59,817,000 after purchasing an additional 751,419 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Douglas Emmett by 20.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,037,437 shares of the real estate investment trust’s stock valued at $44,043,000 after purchasing an additional 525,831 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in Douglas Emmett during the 2nd quarter valued at approximately $3,825,000. Vanguard Group Inc. raised its position in Douglas Emmett by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 26,187,297 shares of the real estate investment trust’s stock valued at $379,716,000 after purchasing an additional 229,301 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Douglas Emmett during the 2nd quarter worth approximately $2,573,000. Institutional investors own 97.37% of the company’s stock.

Douglas Emmett Price Performance

NYSE DEI opened at $17.65 on Friday. The business’s fifty day moving average price is $16.21 and its 200-day moving average price is $14.65. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -84.02 and a beta of 1.11. The company has a debt-to-equity ratio of 1.47, a current ratio of 5.11 and a quick ratio of 5.11. Douglas Emmett, Inc. has a 1-year low of $10.76 and a 1-year high of $17.94.

Douglas Emmett (NYSE:DEI) last released its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $245.80 million for the quarter, compared to the consensus estimate of $246.62 million. During the same period in the previous year, the company earned $0.48 earnings per share. Douglas Emmett’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities analysts predict that Douglas Emmett, Inc. will post 1.67 earnings per share for the current year.

Douglas Emmett Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Monday, September 30th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.76 dividend on an annualized basis and a yield of 4.31%. Douglas Emmett’s dividend payout ratio is currently -361.90%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DEI. Piper Sandler upped their target price on Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. JPMorgan Chase & Co. upped their target price on Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Wells Fargo & Company upped their price target on Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Evercore ISI upped their price target on Douglas Emmett from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Finally, Scotiabank upped their price target on Douglas Emmett from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Douglas Emmett presently has an average rating of “Hold” and a consensus target price of $16.29.

About Douglas Emmett

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.