Karp Capital Management Corp Buys New Position in Douglas Emmett, Inc. (DEI)
Karp Capital Management Corp purchased a new position in shares of Douglas Emmett, Inc. (NYSE:DEI) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,464 shares of the real estate investment trust’s stock, valued at approximately $1,247,000.
A number of other hedge funds also recently added to or reduced their stakes in DEI. Teza Capital Management LLC bought a new stake in Douglas Emmett during the first quarter worth approximately $552,000. Meadow Creek Investment Management LLC boosted its stake in shares of Douglas Emmett by 23.5% in the first quarter. Meadow Creek Investment Management LLC now owns 9,408 shares of the real estate investment trust’s stock valued at $361,000 after buying an additional 1,792 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Douglas Emmett by 22.1% in the first quarter. UBS Asset Management Americas Inc. now owns 282,431 shares of the real estate investment trust’s stock valued at $10,845,000 after buying an additional 51,126 shares during the last quarter. World Asset Management Inc boosted its stake in shares of Douglas Emmett by 3.0% in the first quarter. World Asset Management Inc now owns 8,953 shares of the real estate investment trust’s stock valued at $344,000 after buying an additional 262 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Douglas Emmett by 0.6% in the first quarter. Swiss National Bank now owns 237,100 shares of the real estate investment trust’s stock valued at $9,105,000 after buying an additional 1,300 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.
Shares of Douglas Emmett, Inc. (NYSE:DEI) opened at 39.00 on Friday. Douglas Emmett, Inc. has a 52 week low of $33.20 and a 52 week high of $40.79. The firm’s 50-day moving average is $38.34 and its 200-day moving average is $38.18. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 67.83 and a beta of 0.73.
Douglas Emmett (NYSE:DEI) last posted its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Douglas Emmett had a return on equity of 3.06% and a net margin of 11.97%. The firm had revenue of $170.35 million for the quarter, compared to analyst estimates of $191.93 million. On average, equities research analysts anticipate that Douglas Emmett, Inc. will post $0.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.36%. Douglas Emmett’s dividend payout ratio (DPR) is presently 158.62%.
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Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Douglas Emmett from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Tuesday, April 11th. BidaskClub raised shares of Douglas Emmett from a “sell” rating to a “hold” rating in a report on Thursday. DA Davidson lowered shares of Douglas Emmett from a “buy” rating to a “neutral” rating and cut their price target for the stock from $45.00 to $43.00 in a report on Thursday, May 18th. J P Morgan Chase & Co lifted their target price on shares of Douglas Emmett from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, April 3rd. Finally, Evercore ISI cut shares of Douglas Emmett from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $39.15.
In other news, Chairman Dan A. Emmett sold 100,000 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $37.93, for a total transaction of $3,793,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 23.00% of the company’s stock.
Douglas Emmett Company 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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