GSA Capital Partners LLP Acquires New Holdings in Douglas Emmett, Inc. (DEI)
GSA Capital Partners LLP acquired a new stake in shares of Douglas Emmett, Inc. (NYSE:DEI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,300 shares of the real estate investment trust’s stock, valued at approximately $317,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in DEI. PNC Financial Services Group Inc. grew its holdings in Douglas Emmett by 9.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 299 shares during the period. Riverhead Capital Management LLC grew its holdings in Douglas Emmett by 68.1% during the second quarter. Riverhead Capital Management LLC now owns 6,220 shares of the real estate investment trust’s stock valued at $238,000 after purchasing an additional 2,520 shares during the period. Fox Run Management L.L.C. bought a new position in Douglas Emmett during the second quarter valued at $260,000. Parametrica Management Ltd bought a new position in Douglas Emmett during the second quarter valued at $272,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Douglas Emmett by 0.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,554 shares of the real estate investment trust’s stock valued at $290,000 after purchasing an additional 64 shares during the period. 96.08% of the stock is owned by institutional investors and hedge funds.
DEI has been the subject of several research reports. BidaskClub lowered Douglas Emmett from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. BMO Capital Markets reissued a “hold” rating and set a $39.00 price objective on shares of Douglas Emmett in a report on Tuesday, July 4th. Barclays PLC reduced their price objective on Douglas Emmett from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Tuesday, July 18th. Zacks Investment Research raised Douglas Emmett from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Tuesday, July 18th. Finally, Stifel Nicolaus raised Douglas Emmett from a “hold” rating to a “buy” rating and increased their price objective for the company from $38.00 to $42.00 in a report on Wednesday, August 2nd. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $39.56.
Shares of Douglas Emmett, Inc. (NYSE DEI) opened at 40.87 on Tuesday. Douglas Emmett, Inc. has a 52-week low of $33.78 and a 52-week high of $40.91. The stock has a market cap of $6.66 billion, a P/E ratio of 69.86 and a beta of 0.70. The firm’s 50 day moving average price is $39.25 and its 200 day moving average price is $38.55.
Douglas Emmett (NYSE:DEI) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Douglas Emmett had a net margin of 12.00% and a return on equity of 2.95%. The business had revenue of $199.60 million for the quarter, compared to the consensus estimate of $198.60 million. During the same period in the previous year, the firm earned $0.46 EPS. The company’s revenue was up 6.6% on a year-over-year basis. On average, analysts expect that Douglas Emmett, Inc. will post $0.56 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Thursday, September 28th. Douglas Emmett’s payout ratio is 155.93%.
In other news, Chairman Dan A. Emmett sold 100,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $37.96, for a total transaction of $3,796,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 300,000 shares of company stock valued at $11,492,000. Insiders own 17.80% of the company’s stock.
Douglas Emmett Profile
Douglas Emmett, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is owner and operator of office and multifamily properties located in submarkets in Los Angeles and Honolulu. The Company operates through two segments: the acquisition, development, ownership and management of office real estate (Office Segment), and the acquisition, development, ownership and management of multifamily real estate (Multifamily Segment).
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