Daiwa Securities Group Inc. trimmed its position in shares of Douglas Emmett, Inc. (NYSE:DEI) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,062,594 shares of the real estate investment trust’s stock after selling 19,247 shares during the quarter. Douglas Emmett accounts for 1.4% of Daiwa Securities Group Inc.’s portfolio, making the stock its 18th largest position. Daiwa Securities Group Inc. owned approximately 2.39% of Douglas Emmett worth $161,854,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue grew its stake in Douglas Emmett by 14.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 80,402 shares of the real estate investment trust’s stock valued at $3,202,000 after buying an additional 10,053 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in Douglas Emmett by 2.9% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 176,750 shares of the real estate investment trust’s stock valued at $7,041,000 after buying an additional 5,000 shares during the last quarter. Machina Capital S.A.S. grew its stake in Douglas Emmett by 497.2% in the 2nd quarter. Machina Capital S.A.S. now owns 5,452 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 4,539 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Douglas Emmett in the 2nd quarter valued at about $405,000. Finally, NEXT Financial Group Inc grew its stake in Douglas Emmett by 76.3% in the 2nd quarter. NEXT Financial Group Inc now owns 1,733 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 750 shares during the last quarter. 92.47% of the stock is currently owned by institutional investors.
In other news, Chairman Dan A. Emmett sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $40.78, for a total transaction of $1,631,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.20% of the company’s stock.
Douglas Emmett (NYSE:DEI) last issued its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.52 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.52. Douglas Emmett had a net margin of 13.45% and a return on equity of 3.01%. The company had revenue of $224.19 million during the quarter, compared to the consensus estimate of $227.52 million. During the same quarter in the prior year, the firm posted $0.49 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, research analysts forecast that Douglas Emmett, Inc. will post 2.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Thursday, June 27th. Douglas Emmett’s dividend payout ratio (DPR) is presently 51.49%.
Separately, Zacks Investment Research upgraded shares of Douglas Emmett from a “sell” rating to a “hold” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Douglas Emmett currently has a consensus rating of “Hold” and an average target price of $41.13.
Douglas Emmett Company 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.
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