Balyasny Asset Management LLC Acquires 690,349 Shares of Douglas Emmett, Inc. (DEI)
Balyasny Asset Management LLC raised its holdings in shares of Douglas Emmett, Inc. (NYSE:DEI) by 476.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 835,184 shares of the real estate investment trust’s stock after buying an additional 690,349 shares during the period. Balyasny Asset Management LLC owned about 0.54% of Douglas Emmett worth $31,912,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. lifted its position in Douglas Emmett by 9.1% during the first quarter. PNC Financial Services Group Inc. now owns 3,600 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 299 shares in the last quarter. Virtu KCG Holdings LLC acquired a new position in Douglas Emmett during the second quarter valued at approximately $206,000. Clinton Group Inc. acquired a new position in Douglas Emmett during the first quarter valued at approximately $222,000. Riverhead Capital Management LLC lifted its position in Douglas Emmett by 68.1% during the second quarter. Riverhead Capital Management LLC now owns 6,220 shares of the real estate investment trust’s stock valued at $238,000 after buying an additional 2,520 shares in the last quarter. Finally, TLP Group LLC acquired a new position in Douglas Emmett during the second quarter valued at approximately $248,000. 96.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Douglas Emmett, Inc. (DEI) traded up 0.48% during mid-day trading on Friday, hitting $39.42. 775,451 shares of the company were exchanged. Douglas Emmett, Inc. has a 12-month low of $33.78 and a 12-month high of $40.79. The stock’s 50-day moving average price is $38.34 and its 200 day moving average price is $38.38. The stock has a market cap of $6.42 billion, a PE ratio of 67.38 and a beta of 0.69.
Douglas Emmett (NYSE:DEI) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Douglas Emmett had a return on equity of 2.95% and a net margin of 12.00%. The business had revenue of $199.60 million for the quarter, compared to analyst estimates of $198.60 million. During the same quarter last year, the firm earned $0.46 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities analysts anticipate that Douglas Emmett, Inc. will post $0.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.33%. Douglas Emmett’s payout ratio is 155.93%.
In related news, Chairman Dan A. Emmett sold 100,000 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $37.96, for a total value of $3,796,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 300,000 shares of company stock valued at $11,492,000 over the last 90 days. 17.80% of the stock is currently owned by corporate insiders.
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A number of brokerages have weighed in on DEI. BidaskClub cut shares of Douglas Emmett from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. KeyCorp reiterated a “hold” rating on shares of Douglas Emmett in a research note on Sunday, September 24th. Stifel Nicolaus upgraded shares of Douglas Emmett from a “hold” rating to a “buy” rating and lifted their price objective for the company from $38.00 to $42.00 in a research note on Tuesday, August 8th. Zacks Investment Research lowered shares of Douglas Emmett from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $39.00 price objective on shares of Douglas Emmett in a research note on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $39.56.
About Douglas Emmett
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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