Sumitomo Mitsui Trust Group Inc. Sells 1,524 Shares of Douglas Emmett, Inc. (NYSE:DEI)

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Douglas Emmett, Inc. (NYSE:DEI) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,937 shares of the real estate investment trust’s stock after selling 1,524 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.11% of Douglas Emmett worth $2,895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its holdings in Douglas Emmett by 1.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,943,811 shares of the real estate investment trust’s stock worth $147,437,000 after acquiring an additional 125,727 shares in the last quarter. FMR LLC raised its position in Douglas Emmett by 59.6% during the fourth quarter. FMR LLC now owns 7,794,304 shares of the real estate investment trust’s stock worth $144,662,000 after acquiring an additional 2,910,490 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Douglas Emmett by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,812,708 shares of the real estate investment trust’s stock worth $70,764,000 after acquiring an additional 14,886 shares in the last quarter. JPMorgan Chase & Co. raised its position in Douglas Emmett by 130.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,684,597 shares of the real estate investment trust’s stock worth $49,826,000 after acquiring an additional 1,520,348 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Douglas Emmett by 0.4% in the 4th quarter. Hsbc Holdings PLC now owns 2,508,153 shares of the real estate investment trust’s stock valued at $46,265,000 after purchasing an additional 9,876 shares during the last quarter. 97.37% of the stock is owned by institutional investors.

Douglas Emmett Price Performance

Shares of DEI opened at $15.69 on Friday. The stock has a market cap of $2.63 billion, a PE ratio of 49.03 and a beta of 1.23. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 1.54. The business has a 50-day simple moving average of $14.63 and a two-hundred day simple moving average of $15.91. Douglas Emmett, Inc. has a 12-month low of $12.39 and a 12-month high of $20.50.

Douglas Emmett (NYSE:DEI) last posted its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Douglas Emmett had a net margin of 5.48% and a return on equity of 1.48%. The firm had revenue of $251.54 million for the quarter, compared to analyst estimates of $246.49 million. During the same period in the previous year, the firm posted $0.45 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts anticipate that Douglas Emmett, Inc. will post 1.45 earnings per share for the current fiscal year.

Douglas Emmett Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.19 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.84%. Douglas Emmett’s dividend payout ratio (DPR) is presently 237.50%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DEI shares. Wells Fargo & Company dropped their price target on Douglas Emmett from $20.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Jefferies Financial Group started coverage on shares of Douglas Emmett in a research report on Monday, March 17th. They issued a “hold” rating and a $16.00 price objective on the stock. Piper Sandler lowered their target price on Douglas Emmett from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. Finally, Wall Street Zen upgraded Douglas Emmett from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.13.

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.