Summit Financial LLC Invests $2.05 Million in Douglas Emmett, Inc. (NYSE:DEI)

Summit Financial LLC purchased a new position in shares of Douglas Emmett, Inc. (NYSE:DEI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 109,456 shares of the real estate investment trust’s stock, valued at approximately $2,052,000. Summit Financial LLC owned approximately 0.07% of Douglas Emmett at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Pictet Asset Management Holding SA grew its stake in shares of Douglas Emmett by 8.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 53,832 shares of the real estate investment trust’s stock worth $999,000 after acquiring an additional 4,413 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Douglas Emmett by 4.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 221,500 shares of the real estate investment trust’s stock worth $4,111,000 after purchasing an additional 10,100 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Douglas Emmett in the 4th quarter valued at about $1,897,000. Norges Bank bought a new position in shares of Douglas Emmett during the 4th quarter worth approximately $23,526,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Douglas Emmett by 130.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,684,597 shares of the real estate investment trust’s stock worth $49,826,000 after buying an additional 1,520,348 shares during the last quarter. 97.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on DEI shares. Wedbush raised Douglas Emmett from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $19.00 to $21.00 in a research report on Thursday, January 2nd. StockNews.com lowered shares of Douglas Emmett from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Jefferies Financial Group initiated coverage on shares of Douglas Emmett in a research report on Monday, March 17th. They issued a “hold” rating and a $16.00 price objective on the stock. Janney Montgomery Scott reissued a “neutral” rating on shares of Douglas Emmett in a research report on Wednesday, January 15th. Finally, Piper Sandler raised shares of Douglas Emmett from a “neutral” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Monday, January 13th. One investment 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.50.

Douglas Emmett Stock Down 0.5 %

DEI opened at $16.01 on Tuesday. Douglas Emmett, Inc. has a 12 month low of $12.50 and a 12 month high of $20.50. The company has a market cap of $2.68 billion, a PE ratio of 123.19 and a beta of 1.13. The company has a current ratio of 4.32, a quick ratio of 4.09 and a debt-to-equity ratio of 1.50. The company has a 50 day moving average of $16.85 and a 200 day moving average of $17.79.

Douglas Emmett (NYSE:DEI) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $0.38 earnings per share 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%. On average, sell-side analysts expect that Douglas Emmett, Inc. will post 1.45 EPS for the current year.

Douglas Emmett Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend is Monday, March 31st. Douglas Emmett’s dividend payout ratio 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.