Arizona State Retirement System Reduces Stock Holdings in Douglas Emmett, Inc. (NYSE:DEI)

Arizona State Retirement System cut its stake in Douglas Emmett, Inc. (NYSE:DEIFree Report) by 2.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 48,351 shares of the real estate investment trust’s stock after selling 1,030 shares during the quarter. Arizona State Retirement System’s holdings in Douglas Emmett were worth $617,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DEI. Vanguard Group Inc. increased its position in Douglas Emmett by 0.5% during the third quarter. Vanguard Group Inc. now owns 25,142,146 shares of the real estate investment trust’s stock worth $450,799,000 after purchasing an additional 135,881 shares during the last quarter. BlackRock Inc. grew its stake in shares of Douglas Emmett by 3.8% in the first quarter. BlackRock Inc. now owns 21,032,102 shares of the real estate investment trust’s stock valued at $259,326,000 after buying an additional 772,207 shares in the last quarter. State Street Corp grew its stake in shares of Douglas Emmett by 15.9% in the second quarter. State Street Corp now owns 11,186,067 shares of the real estate investment trust’s stock valued at $142,686,000 after buying an additional 1,537,089 shares in the last quarter. Norges Bank acquired a new position in shares of Douglas Emmett in the fourth quarter worth $114,497,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Douglas Emmett by 91.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,155,765 shares of the real estate investment trust’s stock worth $88,232,000 after acquiring an additional 3,411,463 shares in the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on DEI shares. Piper Sandler increased their price target on shares of Douglas Emmett from $13.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, December 20th. Jefferies Financial Group raised Douglas Emmett from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $10.00 to $15.00 in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.11.

View Our Latest Stock Report on DEI

Douglas Emmett Price Performance

Shares of NYSE:DEI opened at $13.64 on Friday. The company has a quick ratio of 3.86, a current ratio of 3.86 and a debt-to-equity ratio of 1.38. Douglas Emmett, Inc. has a fifty-two week low of $10.09 and a fifty-two week high of $16.86. The firm has a 50-day simple moving average of $14.27 and a 200 day simple moving average of $13.26. The company has a market cap of $2.27 billion, a PE ratio of -52.15 and a beta of 1.08.

Douglas Emmett Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 17th. Stockholders of record on Friday, December 29th were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.76 annualized dividend and a dividend yield of 5.57%. Douglas Emmett’s payout ratio is -292.31%.

Insider Activity

In other news, Director William E. Simon, Jr. sold 91,000 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $13.95, for a total transaction of $1,269,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.00% of the company’s stock.

Douglas Emmett Company Profile

(Free Report)

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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