Texas Permanent School Fund Corp Has $1.94 Million Position in Douglas Emmett, Inc. (NYSE:DEI)

Posted by Defense World Staff on Jul 30th, 2023

Texas Permanent School Fund Corp raised its stake in Douglas Emmett, Inc. (NYSE:DEI – Free Report) by 33.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,300 shares of the real estate investment trust’s stock after purchasing an additional 39,251 shares during the period. Texas Permanent School Fund Corp owned 0.09% of Douglas Emmett worth $1,940,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of DEI. HighTower Advisors LLC acquired a new position in shares of Douglas Emmett in the first quarter valued at $210,000. PNC Financial Services Group Inc. increased its holdings in shares of Douglas Emmett by 16.9% in the first quarter. PNC Financial Services Group Inc. now owns 7,420 shares of the real estate investment trust’s stock valued at $248,000 after purchasing an additional 1,071 shares during the last quarter. Natixis Advisors L.P. acquired a new position in shares of Douglas Emmett in the first quarter valued at $371,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Douglas Emmett by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 64,314 shares of the real estate investment trust’s stock valued at $2,149,000 after purchasing an additional 6,132 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new position in shares of Douglas Emmett in the first quarter valued at $448,000. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on DEI. TheStreet downgraded shares of Douglas Emmett from a “c” rating to a “d+” rating in a research note on Tuesday, May 2nd. JPMorgan Chase & Co. decreased their price target on shares of Douglas Emmett from $20.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, April 10th. Piper Sandler upgraded shares of Douglas Emmett from a “neutral” rating to an “overweight” rating and upped their price target for the company from $13.00 to $15.00 in a research note on Wednesday, April 5th. Finally, StockNews.com downgraded shares of Douglas Emmett from a “hold” rating to a “sell” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.78.

Douglas Emmett Trading Up 3.1 %

Shares of Douglas Emmett stock opened at $14.39 on Friday. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 28.22 and a beta of 0.96. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 1.24. Douglas Emmett, Inc. has a 12-month low of $10.09 and a 12-month high of $23.85. The firm’s 50-day moving average price is $12.74 and its two-hundred day moving average price is $13.28.

Douglas Emmett Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Shareholders of record on Friday, June 30th were paid a dividend of $0.19 per share. The ex-dividend date was Thursday, June 29th. This represents a $0.76 dividend on an annualized basis and a yield of 5.28%. Douglas Emmett’s payout ratio is 149.02%.

Insiders Place Their Bets

In related news, Director William E. Simon, Jr. bought 10,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was purchased at an average price of $12.42 per share, with a total value of $124,200.00. Following the completion of the acquisition, the director now owns 91,000 shares of the company’s stock, valued at $1,130,220. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 14.00% of the company’s stock.

About Douglas Emmett

(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.