JPMorgan Chase & Co. Reduces Position in Douglas Emmett, Inc. (NYSE:DEI)

JPMorgan Chase & Co. cut its stake in shares of Douglas Emmett, Inc. (NYSE:DEIGet Rating) by 24.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,431,207 shares of the real estate investment trust’s stock after selling 1,096,657 shares during the quarter. JPMorgan Chase & Co.’s holdings in Douglas Emmett were worth $76,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. MCF Advisors LLC purchased a new stake in shares of Douglas Emmett during the first quarter valued at $30,000. Quantbot Technologies LP purchased a new stake in shares of Douglas Emmett during the first quarter valued at $40,000. Parallel Advisors LLC grew its holdings in shares of Douglas Emmett by 292.7% during the second quarter. Parallel Advisors LLC now owns 1,716 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 1,279 shares during the last quarter. CWM LLC grew its holdings in shares of Douglas Emmett by 444.4% during the second quarter. CWM LLC now owns 1,764 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 1,440 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Douglas Emmett by 89.6% during the second quarter. Lazard Asset Management LLC now owns 2,537 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 1,199 shares during the last quarter. 93.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DEI. Wells Fargo & Company dropped their price objective on shares of Douglas Emmett from $24.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, October 18th. Credit Suisse Group decreased their target price on shares of Douglas Emmett to $22.00 in a research report on Thursday, October 20th. Piper Sandler downgraded shares of Douglas Emmett from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $30.00 to $19.00 in a research report on Friday, October 7th. StockNews.com initiated coverage on shares of Douglas Emmett in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Raymond James decreased their target price on shares of Douglas Emmett from $28.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, October 18th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.71.

Douglas Emmett Trading Up 0.1 %

Shares of Douglas Emmett stock opened at $16.79 on Thursday. The firm has a 50-day simple moving average of $17.59 and a two-hundred day simple moving average of $21.38. The company has a market cap of $2.95 billion, a P/E ratio of 32.29, a price-to-earnings-growth ratio of 1.53 and a beta of 0.90. Douglas Emmett, Inc. has a fifty-two week low of $15.90 and a fifty-two week high of $36.97. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.54 and a current ratio of 2.54.

Douglas Emmett Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 18th. Shareholders of record on Friday, September 30th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.67%. Douglas Emmett’s dividend payout ratio (DPR) is currently 215.39%.

Insiders Place Their Bets

In other news, Director Shirley Wang acquired 284,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was acquired at an average price of $21.17 per share, for a total transaction of $6,012,280.00. Following the completion of the transaction, the director now owns 284,000 shares in the company, valued at approximately $6,012,280. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Shirley Wang bought 284,000 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was acquired at an average price of $21.17 per share, with a total value of $6,012,280.00. Following the completion of the purchase, the director now directly owns 284,000 shares of the company’s stock, valued at $6,012,280. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jordan L. Kaplan bought 48,750 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were bought at an average cost of $20.48 per share, with a total value of $998,400.00. Following the purchase, the insider now directly owns 2,851,640 shares of the company’s stock, valued at $58,401,587.20. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 345,950 shares of company stock worth $7,257,916. Company insiders own 13.40% of the company’s stock.

About Douglas Emmett

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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.

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Institutional Ownership by Quarter for Douglas Emmett (NYSE:DEI)

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