Corebridge Financial Inc. Reduces Stake in Douglas Emmett, Inc. (NYSE:DEI)

Corebridge Financial Inc. decreased its holdings in shares of Douglas Emmett, Inc. (NYSE:DEI) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,196 shares of the real estate investment trust’s stock after selling 6,737 shares during the quarter. Corebridge Financial Inc.’s holdings in Douglas Emmett were worth $1,600,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC raised its holdings in Douglas Emmett by 222.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,252 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 2,933 shares in the last quarter. GAMMA Investing LLC raised its stake in Douglas Emmett by 19.7% during the 4th quarter. GAMMA Investing LLC now owns 4,561 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 750 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in Douglas Emmett by 30.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 5,028 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 1,172 shares during the last quarter. KBC Group NV boosted its stake in Douglas Emmett by 41.1% in the fourth quarter. KBC Group NV now owns 6,926 shares of the real estate investment trust’s stock valued at $129,000 after acquiring an additional 2,018 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in Douglas Emmett by 89.6% in the fourth quarter. Quantbot Technologies LP now owns 9,429 shares of the real estate investment trust’s stock valued at $175,000 after acquiring an additional 4,455 shares in the last quarter. 97.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Douglas Emmett Stock Up 0.6 %

Shares of Douglas Emmett stock opened at $16.31 on Thursday. Douglas Emmett, Inc. has a one year low of $12.50 and a one year high of $20.50. The company has a market cap of $2.73 billion, a P/E ratio of 125.47 and a beta of 1.13. The company has a debt-to-equity ratio of 1.50, a quick ratio of 4.09 and a current ratio of 4.32. The firm has a fifty day moving average of $16.80 and a two-hundred day moving average of $17.78.

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

Douglas Emmett Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.66%. 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.