Teacher Retirement System of Texas decreased its holdings in Douglas Emmett, Inc. (NYSE:DEI – Get Rating) by 5.6% during the 4th quarter, HoldingsChannel reports. The fund owned 53,414 shares of the real estate investment trust’s stock after selling 3,172 shares during the quarter. Teacher Retirement System of Texas’ holdings in Douglas Emmett were worth $838,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Quadrant Capital Group LLC grew its holdings in shares of Douglas Emmett by 1,066.3% during the 4th quarter. Quadrant Capital Group LLC now owns 6,566 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 6,003 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in Douglas Emmett by 128.1% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 163,945 shares of the real estate investment trust’s stock valued at $2,571,000 after acquiring an additional 92,083 shares during the period. Davis Selected Advisers grew its position in Douglas Emmett by 10.5% in the fourth quarter. Davis Selected Advisers now owns 483,820 shares of the real estate investment trust’s stock valued at $7,586,000 after purchasing an additional 46,040 shares in the last quarter. Creative Planning acquired a new position in shares of Douglas Emmett during the 4th quarter worth approximately $170,000. Finally, Amalgamated Bank raised its stake in Douglas Emmett by 8.0% in the 4th quarter. Amalgamated Bank now owns 134,582 shares of the real estate investment trust’s stock worth $2,110,000 after purchasing an additional 10,010 shares in the last quarter. Institutional investors own 97.25% of the company’s stock.
Analysts Set New Price Targets
DEI has been the subject of a number of recent research reports. StockNews.com lowered shares of Douglas Emmett from a “hold” rating to a “sell” rating in a research note on Thursday. TheStreet cut Douglas Emmett from a “c” rating to a “d+” rating in a report on Tuesday, May 2nd. Piper Sandler raised shares of Douglas Emmett from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $13.00 to $15.00 in a research note on Wednesday, April 5th. JPMorgan Chase & Co. lowered their price objective on shares of Douglas Emmett from $20.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, April 10th. Finally, Evercore ISI cut their price target on Douglas Emmett from $17.00 to $16.00 in a report on Monday, March 27th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.78.
Douglas Emmett Price Performance
Douglas Emmett Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 18th. Shareholders of record on Friday, June 30th will be paid a $0.19 dividend. The ex-dividend date is Thursday, June 29th. This represents a $0.76 annualized dividend and a yield of 6.04%. Douglas Emmett’s dividend payout ratio is currently 149.02%.
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.
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