Norges Bank Acquires New Stake in Douglas Emmett, Inc. (NYSE:DEI)

Norges Bank bought a new position in shares of Douglas Emmett, Inc. (NYSE:DEI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,267,580 shares of the real estate investment trust’s stock, valued at approximately $23,526,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Captrust Financial Advisors bought a new position in shares of Douglas Emmett in the third quarter worth approximately $211,000. Paloma Partners Management Co purchased a new position in Douglas Emmett in the 3rd quarter worth approximately $176,000. HighTower Advisors LLC increased its holdings in shares of Douglas Emmett by 9.6% in the 3rd quarter. HighTower Advisors LLC now owns 13,335 shares of the real estate investment trust’s stock worth $234,000 after buying an additional 1,171 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Douglas Emmett by 22.0% during the 3rd quarter. Quantinno Capital Management LP now owns 69,731 shares of the real estate investment trust’s stock valued at $1,225,000 after buying an additional 12,587 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Douglas Emmett by 43.4% during the 3rd quarter. Stifel Financial Corp now owns 17,783 shares of the real estate investment trust’s stock worth $312,000 after acquiring an additional 5,380 shares during the last quarter. 97.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on DEI. Jefferies Financial Group started coverage on Douglas Emmett in a research note on Monday, March 17th. They issued a “hold” rating and a $16.00 target price on the stock. Piper Sandler raised Douglas Emmett from a “neutral” rating to an “overweight” rating and set a $20.00 price objective on the stock in a report on Monday, January 13th. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Douglas Emmett in a research note on Wednesday, January 15th. Wedbush raised shares of Douglas Emmett from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $19.00 to $21.00 in a research note on Thursday, January 2nd. Finally, StockNews.com cut shares of Douglas Emmett from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.50.

Douglas Emmett Stock Down 2.4 %

Shares of NYSE:DEI opened at $14.25 on Monday. The stock’s 50-day moving average is $16.69 and its 200 day moving average is $17.75. The company has a market cap of $2.39 billion, a PE ratio of 109.60 and a beta of 1.13. The company has a debt-to-equity ratio of 1.50, a current ratio of 4.32 and a quick ratio of 4.09. Douglas Emmett, Inc. has a 1 year low of $12.50 and a 1 year high of $20.50.

Douglas Emmett (NYSE:DEI) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.44. Douglas Emmett had a return on equity of 0.63% and a net margin of 2.38%. Sell-side analysts anticipate that Douglas Emmett, Inc. will post 1.45 EPS for the current year.

Douglas Emmett Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.76 annualized dividend and a yield of 5.33%. Douglas Emmett’s dividend payout ratio (DPR) is presently 584.62%.

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.