Public Sector Pension Investment Board Sells 13,100 Shares of Douglas Emmett, Inc. (NYSE:DEI)

Public Sector Pension Investment Board reduced its stake in Douglas Emmett, Inc. (NYSE:DEI) by 3.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 355,159 shares of the real estate investment trust’s stock after selling 13,100 shares during the period. Public Sector Pension Investment Board’s holdings in Douglas Emmett were worth $6,240,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in Douglas Emmett by 2.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,090,198 shares of the real estate investment trust’s stock valued at $107,681,000 after buying an additional 165,425 shares in the last quarter. FMR LLC increased its holdings in shares of Douglas Emmett by 8.5% during the third quarter. FMR LLC now owns 4,883,814 shares of the real estate investment trust’s stock valued at $85,809,000 after acquiring an additional 384,371 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Douglas Emmett by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,797,822 shares of the real estate investment trust’s stock worth $66,728,000 after purchasing an additional 127,274 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Douglas Emmett by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,495,263 shares of the real estate investment trust’s stock worth $33,212,000 after purchasing an additional 186,385 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Douglas Emmett by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,417,865 shares of the real estate investment trust’s stock valued at $32,182,000 after purchasing an additional 24,272 shares during the period. Institutional investors and hedge funds own 97.37% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on DEI. JPMorgan Chase & Co. raised their price objective on shares of Douglas Emmett from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Evercore ISI lifted their price target on Douglas Emmett from $16.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Wells Fargo & Company increased their price objective on Douglas Emmett from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Citigroup lifted their target price on Douglas Emmett from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Piper Sandler increased their price target on Douglas Emmett from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.43.

Douglas Emmett Stock Performance

DEI stock opened at $19.36 on Friday. The company has a quick ratio of 4.09, a current ratio of 4.09 and a debt-to-equity ratio of 1.51. The firm has a market cap of $3.24 billion, a PE ratio of -193.60 and a beta of 1.10. The business has a 50 day moving average of $18.30 and a 200-day moving average of $15.93. Douglas Emmett, Inc. has a 12-month low of $12.10 and a 12-month high of $19.80.

Douglas Emmett (NYSE:DEI) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.38). Douglas Emmett had a negative return on equity of 0.43% and a negative net margin of 1.68%. The business had revenue of $250.75 million during the quarter, compared to analysts’ expectations of $242.75 million. During the same period in the prior year, the firm posted $0.45 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, sell-side analysts expect that Douglas Emmett, Inc. will post 1.7 earnings per share for the current year.

Douglas Emmett Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend was Monday, September 30th. Douglas Emmett’s dividend payout ratio is -760.00%.

Douglas Emmett Profile

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.