Landon Capital

Diamond Hill Capital, an investment management company, released its “Mid Cap Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy returned 10.42% net in the fourth quarter compared to a 9.18% return for the Russell Midcap Index, and in 2022, it returned -13.12% compared to a -17.32% return for the benchmark. The strategy outperformed the Russell Midcap Index in the fourth quarter and the calendar year. Holdings in information technology, consumer staples, and materials outperformed and contributed to the strategy’s relative performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Diamond Hill Mid Cap Strategy highlighted stocks like Douglas Emmett, Inc. (NYSE:DEI) in its Q4 2022 investor letter. Douglas Emmett, Inc. (NYSE:DEI) is a real estate investment trust. On February 15, 2023, Douglas Emmett, Inc. (NYSE:DEI) stock closed at $16.10 per share. One-month return of Douglas Emmett, Inc. (NYSE:DEI) was 5.09%, and its shares lost 50.28% of their value over the last 52 weeks. Douglas Emmett, Inc. (NYSE:DEI) has a market capitalization of $3.326 billion.

Diamond Hill Mid Cap Strategy made the following comment about Douglas Emmett, Inc. (NYSE:DEI) in its Q4 2022 investor letter:

“Other bottom contributors included energy exploration and production company Coterra Energy (CTRA) and West Coast-focused office and apartment REIT Douglas Emmett, Inc. (NYSE:DEI). DEI has been pressured amid a challenging interest rate environment for REITs. Further, Los Angeles’ economic recovery has been sluggish, hampering office real estate.”

Douglas Emmett, Inc. (NYSE:DEI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Douglas Emmett, Inc. (NYSE:DEI) at the end of the third quarter, which was 22 in the previous quarter.

We discussed Douglas Emmett, Inc. (NYSE:DEI) in another article and shared Longleaf Partners’ views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

Original article can be found on Insider Monkey.