Comerica Bank Sells 369,937 Shares of Douglas Emmett, Inc. (NYSE:DEI)

Comerica Bank decreased its stake in shares of Douglas Emmett, Inc. (NYSE:DEIGet Rating) by 82.4% in the 3rd quarter, Holdings Channel reports. The fund owned 78,950 shares of the real estate investment trust’s stock after selling 369,937 shares during the quarter. Comerica Bank’s holdings in Douglas Emmett were worth $1,318,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Parallel Advisors LLC grew its position in Douglas Emmett by 292.7% in the second quarter. Parallel Advisors LLC now owns 1,716 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 1,279 shares in the last quarter. CWM LLC grew its position in Douglas Emmett by 444.4% in the second quarter. CWM LLC now owns 1,764 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,440 shares in the last quarter. Quantbot Technologies LP bought a new position in Douglas Emmett in the first quarter valued at $40,000. Lazard Asset Management LLC grew its position in Douglas Emmett by 89.6% in 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 purchasing an additional 1,199 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Douglas Emmett by 24.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,294 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 645 shares in the last quarter. Institutional investors own 97.25% of the company’s stock.

Douglas Emmett Stock Performance

NYSE DEI opened at $15.40 on Tuesday. The firm has a 50-day moving average of $15.97 and a 200-day moving average of $18.46. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.54 and a current ratio of 2.54. The stock has a market cap of $2.71 billion, a PE ratio of 29.62, a P/E/G ratio of 1.45 and a beta of 0.89. Douglas Emmett, Inc. has a 52-week low of $14.72 and a 52-week high of $34.70.

Douglas Emmett Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 18th. Stockholders of record on Friday, December 30th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date was Thursday, December 29th. Douglas Emmett’s dividend payout ratio is presently 146.16%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DEI shares. 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. Jefferies Financial Group cut shares of Douglas Emmett from a “hold” rating to an “underperform” rating and cut their price target for the company from $17.00 to $13.00 in a research note on Monday, January 2nd. Credit Suisse Group cut shares of Douglas Emmett from an “outperform” rating to a “neutral” rating and set a $16.00 price target for the company. in a research note on Monday, January 9th. Citigroup cut their price target on shares of Douglas Emmett from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, December 12th. Finally, Wells Fargo & Company cut their price target on shares of Douglas Emmett to $18.00 in a research note on Wednesday, December 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Douglas Emmett presently has an average rating of “Hold” and a consensus target price of $21.25.

Douglas Emmett Profile

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Douglas Emmett, Inc is a real estate investment trust, engages in the acquisition, development, ownership, and management of real estate properties. It operates through the following segments: Office, and Multifamily. The Office segment comprises rental of office space and other tenant services, including parking and storage space rental.

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

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