Citigroup Inc. Acquires 68,507 Shares of Douglas Emmett, Inc. (NYSE:DEI)

Citigroup Inc. increased its holdings in Douglas Emmett, Inc. (NYSE:DEI) by 43.0% during the 3rd quarter, Holdings Channel reports. The firm owned 227,814 shares of the real estate investment trust’s stock after buying an additional 68,507 shares during the period. Citigroup Inc.’s holdings in Douglas Emmett were worth $4,003,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Douglas Emmett by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,797,822 shares of the real estate investment trust’s stock worth $66,728,000 after purchasing an additional 127,274 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Douglas Emmett in the third quarter worth about $650,000. Natixis Advisors LLC grew its stake in shares of Douglas Emmett by 8.5% in the third quarter. Natixis Advisors LLC now owns 56,088 shares of the real estate investment trust’s stock worth $985,000 after purchasing an additional 4,410 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Douglas Emmett by 31.6% in the third quarter. Metis Global Partners LLC now owns 17,240 shares of the real estate investment trust’s stock worth $303,000 after purchasing an additional 4,142 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Douglas Emmett by 4,395.5% in the third quarter. Victory Capital Management Inc. now owns 1,578,205 shares of the real estate investment trust’s stock worth $27,729,000 after purchasing an additional 1,543,099 shares during the last quarter. 97.37% of the stock is owned by institutional investors.

Douglas Emmett Price Performance

Shares of DEI opened at $19.15 on Wednesday. The company has a market capitalization of $3.21 billion, a P/E ratio of -191.50 and a beta of 1.11. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 1.51. The firm has a 50 day moving average of $18.37 and a 200 day moving average of $16.00. Douglas Emmett, Inc. has a twelve month low of $12.35 and a twelve month high of $19.80.

Douglas Emmett (NYSE:DEI) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.38). Douglas Emmett had a negative return on equity of 0.43% and a negative net margin of 1.68%. The company had revenue of $250.75 million during the quarter, compared to the consensus estimate of $242.75 million. During the same period last year, the firm posted $0.45 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that Douglas Emmett, Inc. will post 1.7 earnings per share for the current fiscal year.

Douglas Emmett Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Monday, September 30th. Douglas Emmett’s payout ratio is -760.00%.

Wall Street Analyst Weigh In

Several analysts have commented on DEI shares. Scotiabank upgraded shares of Douglas Emmett from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $16.00 to $21.00 in a report on Thursday, November 14th. Piper Sandler raised their price objective on shares of Douglas Emmett from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Wells Fargo & Company raised their price objective on shares of Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, September 11th. Evercore ISI raised their price objective on shares of Douglas Emmett from $16.00 to $19.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Douglas Emmett from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.43.

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.