Fintel reports that Fmr has filed a 13G/A form with the SEC disclosing ownership of 8.75MM shares of Douglas Emmett, Inc. (DEI). This represents 4.976% of the company.
In their previous filing dated February 9, 2022 they reported 13.92MM shares and 7.93% of the company, a decrease in shares of 37.14% and a decrease in total ownership of 2.95% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 11.97% Upside
As of February 7, 2023, the average one-year price target for Douglas Emmett is $18.50. The forecasts range from a low of $13.13 to a high of $24.15. The average price target represents an increase of 11.97% from its latest reported closing price of $16.52.
The projected annual revenue for Douglas Emmett is $1,048MM, an increase of 5.47%. The projected annual EPS is $0.52, a decrease of 5.89%.
What is the Fund Sentiment?
There are 660 funds or institutions reporting positions in Douglas Emmett. This is a decrease of 14 owner(s) or 2.08% in the last quarter. Average portfolio weight of all funds dedicated to DEI is 0.16%, a decrease of 18.85%. Total shares owned by institutions increased in the last three months by 1.25% to 199,814K shares. The put/call ratio of DEI is 3.38, indicating a bearish outlook.
What are large shareholders doing?
First Eagle Investment Management holds 12,017K shares representing 6.84% ownership of the company. In it's prior filing, the firm reported owning 11,164K shares, representing an increase of 7.10%. The firm decreased its portfolio allocation in DEI by 8.39% over the last quarter.
SGENX - First Eagle Global Fund holds 8,215K shares representing 4.67% ownership of the company. In it's prior filing, the firm reported owning 7,725K shares, representing an increase of 5.96%. The firm decreased its portfolio allocation in DEI by 14.37% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 7,967K shares representing 4.53% ownership of the company. In it's prior filing, the firm reported owning 8,060K shares, representing a decrease of 1.17%. The firm decreased its portfolio allocation in DEI by 11.43% over the last quarter.
Wellington Management Group Llp holds 7,760K shares representing 4.41% ownership of the company. In it's prior filing, the firm reported owning 7,601K shares, representing an increase of 2.05%. The firm decreased its portfolio allocation in DEI by 13.49% over the last quarter.
Norges Bank holds 7,302K shares representing 4.15% ownership of the company. In it's prior filing, the firm reported owning 7,344K shares, representing a decrease of 0.57%. The firm decreased its portfolio allocation in DEI by 4.59% over the last quarter.
Douglas Emmett Declares $0.19 Dividend
On December 8, 2022 the company declared a regular quarterly dividend of $0.19 per share ($0.76 annualized). Shareholders of record as of December 29, 2022 received the payment on January 18, 2023. Previously, the company paid $0.28 per share.
At the current share price of $16.52 / share, the stock's dividend yield is 4.60%. Looking back five years and taking a sample every week, the average dividend yield has been 3.46%, the lowest has been 2.35%, and the highest has been 7.02%. The standard deviation of yields is 1.03 (n=237).
The current dividend yield is 1.10 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.38. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.32%.
Douglas Emmett Background Information
(This description is provided by the company.)
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.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
