5 Best Penny Stocks to Buy Now

3. Douglas Elliman Inc. (NYSE:DOUG)

Number of Hedge Fund Holders: 16

Douglas Elliman Inc. (NYSE:DOUG) is a New York-based multi-channel real estate company with over 7,000 agents and 113 offices across the US.

On July 26, Douglas Elliman Inc. (NYSE:DOUG) increased its presence in the state of Colorado by opening a new office in Basalt. Following this development, Douglas Elliman has four offices in Colorado now. The company is one of the biggest residential real estate brokers in the US, with a focus on luxury properties. Douglas Elliman Inc. (NYSE:DOUG) stock offers an attractive forward dividend yield of 4.2% at a time when the 10-year treasury rate is hovering around 3.2% as of September 7. Furthermore, Douglas Elliman Inc. (NYSE:DOUG) is making progress as it was involved in 21% of the real estate transactions in New York in 2022 as opposed to 19% in 2017.

Citadel Investment Group raised its stake in Douglas Elliman Inc. (NYSE:DOUG) by over 100% during the second quarter of the year.