Crossmark Global Holdings Inc. lessened its stake in shares of Douglas Emmett, Inc. (NYSE:DEI – Free Report) by 6.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,513 shares of the real estate investment trust’s stock after selling 1,060 shares during the period. Crossmark Global Holdings Inc.’s holdings in Douglas Emmett were worth $209,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in DEI. Asset Management One Co. Ltd. increased its stake in shares of Douglas Emmett by 1.1% during the 2nd quarter. Asset Management One Co. Ltd. now owns 277,529 shares of the real estate investment trust’s stock worth $3,489,000 after purchasing an additional 2,932 shares during the last quarter. KBC Group NV purchased a new stake in Douglas Emmett in the second quarter worth $2,924,000. Victory Capital Management Inc. increased its holdings in Douglas Emmett by 6.7% in the 2nd quarter. Victory Capital Management Inc. now owns 31,607 shares of the real estate investment trust’s stock worth $397,000 after acquiring an additional 1,997 shares during the last quarter. New York State Teachers Retirement System raised its stake in Douglas Emmett by 10.3% in the 2nd quarter. New York State Teachers Retirement System now owns 128,466 shares of the real estate investment trust’s stock valued at $1,615,000 after acquiring an additional 11,978 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in Douglas Emmett by 2.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 53,000 shares of the real estate investment trust’s stock valued at $666,000 after acquiring an additional 1,261 shares during the period. Hedge funds and other institutional investors own 97.37% of the company’s stock.
Wall Street Analyst Weigh In
DEI has been the subject of a number of research reports. Wedbush initiated coverage on shares of Douglas Emmett in a research report on Tuesday, October 3rd. They set a “neutral” rating and a $13.00 target price for the company. Bank of America cut shares of Douglas Emmett from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $12.00 to $10.00 in a report on Tuesday, August 8th. StockNews.com started coverage on Douglas Emmett in a report on Thursday, October 5th. They issued a “sell” rating for the company. Raymond James reduced their price target on Douglas Emmett from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Finally, Evercore ISI dropped their price objective on Douglas Emmett from $15.00 to $13.00 in a report on Monday, October 9th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Douglas Emmett has a consensus rating of “Hold” and an average target price of $14.09.
Douglas Emmett Stock Performance
Shares of NYSE DEI opened at $11.13 on Monday. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 33.73 and a beta of 0.99. Douglas Emmett, Inc. has a 1-year low of $10.09 and a 1-year high of $18.24. The stock’s 50-day moving average is $12.72 and its 200 day moving average is $12.68. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 1.29.
Douglas Emmett Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Friday, September 29th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 6.83%. The ex-dividend date was Thursday, September 28th. Douglas Emmett’s payout ratio is presently 230.31%.
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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